PepsiCo (NASDAQ: PEP) Q3 2026 Earnings: Beat Estimates, Revised Outlook

• PepsiCo (NASDAQ: PEP) exceeded Q3 2026 adjusted earnings and revenue estimates.
• Net sales increased by 5.6%, driven by international growth despite North American challenges.
• Despite the strong Q3 performance, PepsiCo revised its 2026 core EPS growth forecast downwards, impacting premarket share performance.

PepsiCo (NASDAQ: PEP) reported third-quarter earnings before the market opened on October 8, 2026. PepsiCo sells drinks and packaged foods through brands such as Pepsi, Gatorade, and Lay’s. Its competitors include Coca-Cola (NYSE: KO) in drinks and other large food companies in snacks.

Adjusted earnings were $2.34 per share, above the $2.29 estimate. Revenue reached $25.27 billion, topping the $24.95 billion estimate. Net sales rose 5.6%, helped by international growth even as the North American business lagged, as highlighted by CNBC.

Profit rose to $3.05 billion, or $2.23 per share, from $2.60 billion, or $1.90 per share, a year earlier, as highlighted by The Wall Street Journal. The $2.23 figure is reported earnings per share; the $2.34 figure is adjusted earnings per share, which excludes certain costs.

PepsiCo cut its 2026 forecast for core earnings-per-share growth to 2.5%–3.5%, from its earlier projection at the low end of a 5%–7% range. It now expects revenue growth of about 6%, the high end of its prior 4%–6% forecast. The weaker profit outlook overshadowed the earnings beat, as highlighted by Barron’s. Shares fell less than 1% in premarket trading.