The Quarter in Brief
PepsiCo reported its third quarter of fiscal 2026, the 12 weeks ended September 5, before the market opened on October 8. Net revenue was $25.27 billion, up 5.6% from a year earlier. Reported earnings per share were $2.23, up 17% from $1.90. Core earnings per share, the company's own measure that leaves out items such as restructuring charges and gains or losses on commodity hedges, were $2.34, up 2% from $2.29.
Both headline figures were ahead of expectations: analysts had expected about $24.88 billion of revenue and core earnings of about $2.29 a share, according to the Zacks consensus. What made the quarter different was the outlook. PepsiCo now expects core earnings per share to grow 2.5% to 3.5% this year, where it previously pointed to the low end of 5% to 7%, and it said its North America business performed below its own expectations.