PepsiCo cuts full-year profit forecast — CNBC

PepsiCo beat analysts’ expectations for adjusted earnings and revenue in the third quarter of 2026 but lowered its full-year earnings growth forecast. CNBC reports.

Quarterly results

The company’s adjusted earnings were $2.34 per share, compared with analysts’ forecast of $2.29, according to LSEG survey data. PepsiCo’s revenue reached $25.27 billion, while the market expected $24.96 billion.

Net income attributable to the company totaled $3.05 billion, or $2.23 per share, in the third quarter. A year earlier, it stood at $2.6 billion, or $1.90 per share. Net sales rose 5.6% to $25.27 billion.

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Organic revenue, which excludes acquisitions, asset sales and currency fluctuations, increased by 3.1%. The results were supported by international growth, while PepsiCo’s business in North America, according to CNBC, continues to lag behind international markets.

Updated forecast

The company expects core earnings per share to grow by 2.5–3.5% for full-year 2026. Previously, PepsiCo had forecast growth at the lower end of the 5–7% range.

At the same time, the forecast for net revenue growth was raised to about 6%. This corresponds to the upper end of the previous forecast range of 4–6%.