Quaker Oats product recalls ate into PepsiCo’s quarterly earnings

Volume was down for the North American Quaker Food division after more than 60 products were recalled in December and January.

This December, the U.S. Food and Drug Administration (FDA) issued a recall of more than 40 Quaker Oats products due to possible salmonella contamination. Then, in January, dozens of additional Quaker Oats products were tacked onto the original notice—including Cap’n Crunch bars and Quaker Cereal. And now, PepsiCo’s first-quarter earnings and revenue report shows that the major recalls put a dent in U.S. sales.