PEP
FY2026 Q2 · Calendar Q3 2026
PepsiCo, Inc.
PepsiCo's Q2 2026 results showed 7% first-half revenue growth with the fastest volume growth since 2022, driven by international markets now exceeding $40 billion in revenue. The company beat consensus on both EPS ($2.20 vs $2.19) and revenue ($24.18B vs $23.95B), yet the stock fell 3.3% on the session with an abnormal move of -4.1% against a rising benchmark, suggesting investors focused on soft U.S. volume growth and margin pressure in beverages rather than the headline beat. Management reaffirmed full-year guidance, supported by tariff refunds expected to contribute roughly one full EPS point, and continued portfolio transformation through acquisitions (Siete, Poppi) and innovation (Doritos Protein, Naked Juice, functional hydration).
EPS surprise+0.5%
Market move-3.3%
