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With one quarter left in 2026, the company also lowered its forecast for its full-year earnings. Pepsi expects core earnings per share to increase 2.5% to 3.5%, down from its previous projection of the low end of a range from 5% to 7%. It is also now projecting net revenue growth of about 6%, on the high end of its prior outlook of a range of 4% to 6%.
Here’s what 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
Pepsi reported third-quarter net income attributable to the company of $3.05 billion, or $2.23 per share, down from $2.6 billion, or $1.90 per share, a year earlier.
Excluding 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, increased 3.1% during the quarter.
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