We now anticipate PepsiCo will generate high-single-digit percentage revenue growth in 2023, including about 10% organic expansion, partly offset by low-single-digit currency headwinds. Moreover, management provided preliminary high-level expectations for 2024, including results toward the upper end of the company?s long-term target ranges for both organic revenue (4%-6% annual increase) and core constant currency earnings per share growth (high-single-digit percentage increase). We believe PepsiCo?s confident view on 2024 is underpinned by still solid demand growth for its products in the more economically sensitive convenience store and food service channels. Moreover, PepsiCo has demonstrated expertise in product innovation and maintained good profitability despite significant macroeconomic disruptions over the last several years, mainly due to substantial investments in the business. We also
