Curious about today's AI digest?ai-tldr.dev
Pomegra LogoPomegra

Daily Digest

BriefMarket · neutralMedium impact
Esc
Bottles of Pepsi displayed on a supermarket shelf
Photo: Dado Ruvic/Reuters

PepsiCo Stock Faces 3.7% Swing on Q3 Earnings Today

SEC / PepsiCo2 min read6 sources

What do analysts expect from PepsiCo earnings today?

PepsiCo (PEP) stock, near $126, faces an options-implied move of about 3.7% either way on Thursday as Q3 earnings arrive with soft North American snack and drink sales in focus.

Key numbers

Expected EPS (Q3)$2.30vs $2.29 a year ago
Expected revenue (Q3)~$25.0B+4.3% YoY
Options-implied move~3.7%either direction, per [5]
Stock YTD-9.7%close $125.71; Reuters says ~-12%
Forward P/E14.2xvs 19.8x for S&P 500
2026 organic revenue outlook2%–4%reaffirmed in April

What happened

PepsiCo (PEP) stock, near $126, faces an options-implied move of about 3.7% either way on Thursday as Q3 earnings arrive with soft North American snack and drink sales in focus. Analysts expect profit of $2.30 per share on about $25 billion in sales, about 4% more than a year ago, in a report due before the open. Last quarter, North American food sales volumes were flat and the drinks business's profit margin slipped about 0.9 percentage points. The stock is down about 10% this year; Reuters puts the drop near 12%.

Why it matters

PepsiCo makes Pepsi, Lay's and Doritos, so its results show how shoppers are spending on everyday snacks and drinks. Over the past three months its shares fell 12.1% while the S&P 500 index rose 1.6%. Some investors blame weight-loss drugs (GLP-1s) for cutting snack and soda demand, and activist investor Elliott, with a roughly $4 billion stake, wants better results.

Who this affects

Marketneutral
Medium impact
Investors face a possible 3.7% move either way.
Companymixed
Medium impact
Shareholders hope North America improves after months of weakness.
Competitorsneutral
Low impact
Rivals' shares could react to PepsiCo's drink and snack commentary.
Industrybearish
Medium impact
Snack and soda makers face cautious shoppers, weight-loss drugs.

PepsiCo vs Coca-Cola, Keurig Dr Pepper, Monster Beverage

PepsiCoPEP-12.1%14.2x
Coca-ColaKO+3.3%—
Keurig Dr PepperKDP-4.3%—
Monster BeverageMNST-11.8%—

As of 2026-10-05

How we got here

  1. PepsiCo cut prices up to 15% on products such as Lay's and Doritos.

  2. Q1 revenue rose 8.5% to $19.44B; U.S. beverage volume fell 2.5%.

  3. Reuters says PepsiCo is running out of time to meet Elliott-linked targets.

  4. PepsiCo reports Q3 results before the market opens.

What to watch

  • North American snack and drink sales volumes after flat food volumes last quarter.2026-10-08
  • Whether full-year profit lands at the low end of guidance as tariff refunds arrive.2026-10-08
  • Progress on the 100-basis-point profit margin gain targeted over three years.2026-10-08

Educational content only. Not investment advice.

More briefsAll briefs →