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PEP · Q2 2026

Archived report (Q2 2026). Latest deep dive →

US GAAP · $M · vs Q2 2025 · reported 07/09/2026

PEP — PepsiCo is a global food and beverage leader with products including carbonated drinks, snacks, and juices.

More about the company

Headquartered in Purchase, New York, it operates in more than 200 countries.

All figures in $M.

Revenue

$24,181

+6.4%

Gross profit

$13,111

+5.5%

54.2% margin

Operating income

$4,023

+125%

16.6% margin

Net income

$2,981

+136%

EPS $2.18 vs $0.92; incl. NCI carve-out

Sankey diagram of PEP earnings report for Q2 2026: revenue, costs and profitPFNA (Foods NA)$6,368 · -2%PBNA (Bev NA)$7,243 · +7%Intl Beverages Franchise$1,523 · +11%EMEA$4,983 · +10%LatAm Foods$2,940 · +15%Asia Pacific Foods$1,124 · +12%Net Revenue$24,181 · +6.4%Cost of Sales$11,070 · +7.4%Gross Profit$13,111 · +5.5%54.2% marginSG&A (incl.impairment lap)$9,088 · +3.6%vs $10,948 PY incl.$1,860 impairmentOperating Profit$4,023 · +125%16.6% marginNet Interest &Other, net*$171 · -34%incl. $59M pensionincome offsetIncome Before Tax$3,852 · +145%Income Tax$871 · +192%Net Income (PepsiCo)$2,981 · +136%EPS $2.18 vs $0.92; incl. NCIcarve-out

Verdict: a deceptively strong quarter — GAAP operating profit surged 125% and net income 136% almost entirely because last year's Rockstar/Be & Cheery impairment charge and restructuring costs don't repeat, while underlying core operating profit grew a modest 4% as PBNA and PFNA volume/pricing pressure offset strong international growth.

OCF $2,365M (24 wks); capital spending $1,266M (24 wks); dividends paid $3,914M (24 wks); buybacks $479M (24 wks); FY26 guidance affirmed: organic revenue +2-4%, core constant-currency EPS +4-6%, core tax rate ~22%, cash returns ~$8.9B.

Source and notation

* marks non-cash / ≈ estimated. Source: PepsiCo press release / 10-Q (SEC EDGAR).

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How this page was made: the figures come from the company's own report on SEC EDGAR; the summary and nuances were drafted by our model from that report; the short company description was also written by our model. Figures checked against the filing on 08/25/2026. How we make the breakdowns · Report an error

More reports: PG · Q4 2026 · PM · Q2 2026 · TGT · Q2 2026 · WMT · Q2 FY2027 · CL · Q2 2026 · COST · Q4 FY26 · KO · Q2 2026 · MDLZ · Q2 2026 · MNST · Q2 2026 · MO · Q2 2026 · all reports

Company reports

Q3 2026latestPepsiCo's Q3 2026 net revenue rose 5.6% to $25,274 million, with organic revenue up 3.1%. Operating profit grew 19% to…
Q2 2026A deceptively strong quarter — GAAP operating profit surged 125% and net income 136% almost entirely because last year's…

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