PepsiCo earnings date and guidance
MyStockButler's October 2026 analysis: The next PepsiCo results are expected on February 2, 2027. Watch whether North American margins recover as commodity hedges expire and productivity savings arrive.
What has PepsiCo guided for 2026?
Management guides to 3.0% organic revenue growth in 2026. Currency and acquisitions would each add 1.5%. Core EPS growth is expected at 2.5%–3.5%, but constant-currency core EPS growth is only 1.0%–2.0%.
| The period guided | Low | High | The date it was given | |
|---|---|---|---|---|
| Organic Revenue | Year to Dec 2026 | 3.0% | 3.0% | Oct 8, 2026 |
| Foreign Exchange Translation | Year to Dec 2026 | 1.5% | 1.5% | Oct 8, 2026 |
| Acquisitions, net of Divestitures | Year to Dec 2026 | 1.5% | 1.5% | Oct 8, 2026 |
| Net Revenue | Year to Dec 2026 | 6.0% | 6.0% | Oct 8, 2026 |
| Core Annual Effective Tax Rate | Year to Dec 2026 | 21.0% | 21.0% | Oct 8, 2026 |
| Core Constant Currency EPS | Year to Dec 2026 | 1.0% | 2.0% | Oct 8, 2026 |
Has PepsiCo kept its past promises?
Promises need dates as well as incentives. In December 2025, PepsiCo projected 2026 core constant-currency earnings growth of 4%–6%; on October 8, 2026, it reduced that expectation to 1%–2%. North American food volume and market share improved, but pricing and other costs still weakened profit per share. PepsiCo may therefore be winning back shoppers without yet delivering the earnings growth it promised.
What happened in PepsiCo's last eight quarters?
The latest quarter showed better sales and cash, but underlying profit improved much less than the headline suggested.
For the 12 weeks ended September 5, revenue, operating income, net income and diluted EPS all rose from the comparable quarter. The same-season comparison matters because PepsiCo’s sales and cash flows are seasonal; the immediately preceding quarter is not a clean benchmark.
| Quarter to Sep 2026 | Quarter to Jun 2026 | Quarter to Mar 2026 | Quarter to Dec 2025 | Quarter to Sep 2025 | Quarter to Jun 2025 | Quarter to Mar 2025 | Quarter to Dec 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 25,274 | 24,181 | 19,443 | 29,343 | 23,937 | 22,726 | 17,919 | 27,784 |
| Gross margin (calculated) | 54.4% | 54.2% | 55.2% | 53.2% | 53.6% | 54.7% | 55.8% | 52.6% |
| Operating income | 4,260 | 4,023 | 3,213 | 3,557 | 3,569 | 1,789 | 2,583 | 2,250 |
| Net income | 3,048 | 2,981 | 2,327 | 2,540 | 2,603 | 1,263 | 1,834 | 1,523 |
| EPS, diluted | 2.23 | 2.18 | 1.70 | 1.85 | 1.90 | 0.92 | 1.33 | 1.11 |
What should investors watch in the next PepsiCo release?
The immediate test is fourth-quarter 2026. Commodity hedges are contracts that temporarily offset changes in input prices. When a hedge “rolls off,” it expires, so PepsiCo becomes more exposed to the market price unless it renews the protection or raises its own prices. Management expects margin pressure to continue as earlier protection fades and productivity savings take time to arrive.