PepsiCo cuts 2026 core EPS growth outlook to 2.5 to 3.5 percent

PepsiCo cut its fiscal 2026 core earnings outlook.

The company now expects core earnings per share to rise 2.5 to 3.5 percent, down from the low end of its previous 5 to 7 percent range, according to results filed Thursday with the SEC. Its core constant-currency EPS forecast fell to 1 to 2 percent from the low end of a prior 4 to 6 percent range.

Third-quarter net revenue rose 5.6 percent to $25.274bn. Organic revenue, a company measure that excludes currency effects and acquisitions or divestitures, grew 3.1 percent. Reported operating profit rose 19 percent to $4.260bn, while diluted EPS increased 17 percent to $2.23.

The cash-return plan did not change. PepsiCo still expects to return $8.9bn through $7.9bn of dividends and $1.0bn of share repurchases.