PepsiCo, Inc.: Beat — EPS $2.34, Revenue $25.27B
PEPPepsiCo, Inc.•Q3 2026•Oct 08, 2026, 6:49 AM EDT
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Earnings BeatQ3 2026 · Pre-market
@trystockwhiz
Did PepsiCo, Inc. (PEP) beat earnings today?
Yes, PepsiCo, Inc. (PEP) beat Wall Street analyst expectations for Q3 2026, reporting higher-than-expected EPS and higher-than-expected revenue.
Earnings Per Share+1.74% surprise
$2.34Actual
Expected: $2.30
vs. year ago +17.0%
Total Revenue+1.26% surprise
$25.27BActual
Expected: $24.96B
vs. year ago +5.6%
Released Oct 08 · 6:49 AM ET
Earning Report
| Metric | Q3 2026 | Q3 2025 | YoY Change % |
|---|---|---|---|
| Net Revenue | $25.27B | $23.94B | +5.6% |
| └─PFNA | $6.50B | $6.53B | -0.3% |
| └─PBNA | $7.71B | $7.33B | +5.0% |
| └─IB Franchise | $1.40B | $1.29B | +8.0% |
| └─EMEA | $5.41B | $5.02B | +8.0% |
| └─LatAm Foods | $3.02B | $2.66B | +14.0% |
| └─Asia Pacific Foods | $1.23B | $1.11B | +10.0% |
| EPS | $2.23 | $1.90 | +17.0% |
| Core EPS | $2.34 | $2.29 | +2.0% |
| Net income | $3.07B | $2.62B | +17.3% |
Financial Outlook / Guidance
| Metric | Next Quarter Outlook | FY 2026 Outlook |
|---|---|---|
| Organic Revenue | — | Approximately +3% (prev. +2% to +4%) |
| Foreign Exchange Translation | — | Approximately +1.5% to net revenue and core EPS growth (prev. Approximately +1%) |
| Acquisitions, net of Divestitures | — | Approximately +1.5% to net revenue growth (prev. Approximately +1%) |
| Net Revenue | — | Approximately +6% (prev. +4% to +6%) |
| Core Constant Currency EPS | — | +1% to +2% (prev. Low-end of +4% to +6%) |
| Core EPS | — | +2.5% to +3.5% (prev. Low-end of +5% to +7%) |
| Capital Spending | — | Below 5% of net revenue (prev. Below 5% of net revenue) |
| Free Cash Flow Conversion Ratio | — | At least 80 percent (prev. At least 80 percent) |
| Cash Returns to Shareholders | — | $8.9 billion (prev. $8.9 billion) |
Business Highlights
- ➤International business demonstrated scale and resilience.
- ➤Global portfolio continued to evolve.
- ➤Company improved presence in underpenetrated channels and occasions.
- ➤North America convenient foods benefited from savory snacks momentum.
- ➤International performance was aided by organic volume across Asia Pacific Foods, IB Franchise and LatAm Foods.
- ➤North America initiatives included innovation and affordability.
- ➤Management identified additional structural cost reduction actions.
- ➤Planned investments target innovation, brand building and sharper channel execution.
- ➤2025 acquisitions contributed to North America beverages performance.
- ➤Planned cash returns comprise $7.9 billion dividends and $1.0 billion share repurchases.
Management Commentary
Ramon Laguarta, Chairman and CEO
“Our third-quarter results featured strong net revenue growth, an acceleration in organic revenue growth with organic volume growth across both global beverages and convenient foods. The results reflect the scale and resilience of the international business, the ongoing evolution of the global portfolio and an improved presence in underpenetrated channels and occasions.”
Ramon Laguarta, Chairman and CEO
“Looking ahead, we remain focused on building upon the strength of the International business while acting with urgency to sustainably improve our performance in North America through more investments in innovation, effective brand building, and sharper marketplace execution by channel. Additional structural cost reduction actions are being identified and will be implemented in the coming months to help fund investments that aim to accelerate organic revenue growth and mitigate the impacts of rising input cost inflation.”