PepsiCo Q3 EPS $2.23 Beats Consensus; Operating Profit Up 19% on Tariff Refunds and Productivity
PEP is trading near its 52-week low of $123.47 (2.0% above the low).
Summary
PepsiCo reported Q3 2026 diluted EPS of $2.23, beating consensus, with operating profit up 19% on tariff refunds and productivity gains. Full financial statements show 36-week net income of $8.36 billion, up 47% year-over-year. The company updated fiscal 2026 guidance, lowering core EPS growth to +2.5% to +3.5% from the low end of +5% to +7%, with organic revenue approximately +3%.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — PepsiCo updated fiscal 2026 guidance: core EPS growth now +2.5% to +3.5%, down from low-end of +5% to +7%; organic revenue approximately +3%.
Key Events · Earnings and Guidance · PEP
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New · · SEC 8-K
Fiscal 2026 Guidance Lowered
PepsiCo updated fiscal 2026 guidance: core EPS growth now +2.5% to +3.5%, down from low-end of +5% to +7%; organic revenue approximately +3%.
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Q3 EPS Beats Consensus
Diluted EPS of $2.23 for the 12 weeks ended September 5, 2026, up 17% from $1.90 a year ago, exceeding consensus expectations.
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Operating Profit Up 19%
Operating profit rose to $4.26 billion, driven by productivity savings, a 4-percentage-point favorable impact from tariff refunds, and effective net pricing.
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36-Week Net Income Up 47%
Net income attributable to PepsiCo reached $8.36 billion for the 36 weeks, up from $5.70 billion, aided by lapping prior-year Rockstar and Be & Cheery impairment charges.
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New $10B Credit Facilities
Entered into new $5.0 billion five-year and $5.0 billion 364-day revolving credit agreements, replacing prior facilities, with no outstanding borrowings as of September 5, 2026.
Analysis · PEP · Manufacturing
PepsiCo delivered a strong third quarter with diluted EPS of $2.23, up 17% year-over-year, beating consensus expectations. Operating profit rose 19% to $4.26 billion, driven by productivity savings, a 4-percentage-point favorable impact from tariff refunds, and effective net pricing. The stock trades near its 52-week low at $126, so this earnings beat provides a potential floor for the shares. North American food volumes remain flat, but international segments — particularly EMEA, LatAm Foods, and Asia Pacific Foods — delivered double-digit revenue growth. The company also disclosed new $10 billion in revolving credit capacity and continued its $10 billion buyback program, returning $6.7 billion to shareholders year-to-date. However, PepsiCo lowered its fiscal 2026 core EPS growth guidance to +2.5% to +3.5%, down from the low end of +5% to +7%, and now expects organic revenue growth of approximately +3%.
How filings like this one have moved
In the 30 days to Oct 8, 2026, 28.8% of the 1732 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.63%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, PEP was trading at $126.00 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $168.9B. The 52-week trading range was $123.47 to $171.48. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.