's (NASDAQ: PEP) stock has a lot going for it in 2023. Its last few earnings updates showed that it could boost sales and earnings even as shoppers spent less freely on groceries. And the consumer staples giant is positioned for growth through what could be a rocky time for the economy.

Yet the stock has underperformed the market so far this year on worries about slowing sales and declining profit margins. So, let's take a closer look at Pepsi's potential as an investment in 2023 ahead of its upcoming earnings update in late April.

At a glance, PepsiCo's latest earnings report suggested no growth struggles. Organic sales ended the year on a strong note, jumping 15% in the fourth quarter and rising by 14% for the full 2022 year.

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Source Fool.com