Overview
- Revenue rose 5.6% to about $29.3 billion and adjusted earnings reached $2.26 per share, both ahead of Wall Street estimates.
- Core volumes softened as snacks fell roughly 1% and North American beverages declined about 4%, while global beverage volumes inched up 1% and food fell 2%.
- PepsiCo raised prices during the quarter by about 4.5% globally, including a 7% increase for North American beverages and a 1% uptick for snacks.
- The board increased the annual dividend 4% to $5.92, extending a 54-year streak, and authorized a new $10 billion share repurchase program running through early 2030.
- Management reaffirmed 2026 guidance for 2–4% organic revenue growth and 4–6% core constant-currency EPS growth, while executing plans to trim roughly 20% of U.S. SKUs, pursue targeted price cuts, accelerate innovation such as Pepsi Prebiotic and Doritos Protein, and lean on international strength led by 12% growth in EMEA.