Bottles and packs of Pepsi soda at a store in Austin, Texas, US, on Tuesday, July 7, 2026.
Sergio Flores | Bloomberg | Getty Images
On Thursday, PepsiCo reported quarterly earnings and revenue that exceeded Wall Street expectations, driven by growth in international markets even as its North American operations continue to lag.
With one quarter remaining in 2026, the company lowered its forecast for full-year earnings. Pepsi now expects core earnings per share to increase by 2.5% to 3.5%, a reduction from its previous projection of 5% to 7%. It is also projecting net revenue growth of about 6%, at the high end of its prior outlook range of 4% to 6%.
Here is how the company reported compared with what Wall Street was expecting, based on a survey of analysts by LSEG:
- Earnings per share: $2.34 adjusted vs. $2.29 expected
- Revenue: $25.27 billion vs. $24.96 billion expected
PepsiCo reported third-quarter net income attributable to the company of $3.05 billion, or $2.23 per share, up from $2.6 billion, or $1.90 per share, a year earlier.
Excluding special items, the company earned $2.34 per share.
Net sales rose 5.6% to $25.27 billion. Organic revenue, which excludes acquisitions, divestitures and foreign exchange impacts, increased 3.1% during the quarter.
