The earnings call reflects a positive outlook with significant productivity improvements, international growth, and strategic investments in technology and permissible snacks. While there are challenges in China and volume pressures in North America, the overall sentiment leans towards optimism driven by strong performance in international markets and new growth opportunities in the away-from-home segment.

Company Guidance -

Q3 2025

During PepsiCo's Q2 2025 earnings call, the company provided guidance highlighting a significant focus on productivity initiatives and asset optimization. PepsiCo expects to generate 70% more productivity savings in the second half of the year compared to the first half, primarily from the Frito-Lay division, as the company seeks to rightsize its asset footprint. This involves closing two plants and adjusting workforce levels, complemented by savings from procurement improvements enabled by ERP system investments. Additionally, the company emphasized a multi-year horizon for enhancing productivity across its North America market, integrating technology and data to streamline operations, and leveraging global capability centers. PepsiCo aims for sequential improvement in top-line performance, targeting the lower end of its long-term growth algorithm over the next few quarters, driven by international growth and enhanced competitiveness in North America.

Accelerated Productivity Initiatives

PepsiCo is expecting to deliver about 70% more productivity in the second half of the year compared to the first half, with significant contributions from Frito-Lay. The company has closed two plants and shuttered some manufacturing lines to optimize costs.

International Growth Success

PepsiCo's international business continues to be a strong focus, with mid-single-digit growth in both food and beverages. Markets like LatAm, parts of Europe, and India show robust performance.

Away-From-Home Business Growth

The away-from-home segment is a bright spot, with PBNA up high single digits. This segment represents a significant growth opportunity and is margin accretive for both beverages and snacks.

Permissible Snacks Portfolio Expansion

PepsiCo's permissible snacks business, including SunChips, PopCorners, and Simply, has grown to over $2 billion, emphasizing efforts in healthier snacking options.

Sustainable Beverages Growth

PepsiCo is focusing on no-sugar colas, energy drinks, and hydration solutions, driving share gains in beverages both in the U.S. and internationally.

Investment in Technology and Innovation

Continuous investment in technology, AI, and data to optimize productivity and drive growth in North America and globally.

PepsiCo (PEP) Earnings, Revenues Date & History

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PEP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 02, 2025	2025 (Q3)	2.26 / -	2.31	―	―	―
Apr 24, 2025	2025 (Q1)	1.49 / 1.48	1.61	-8.07% (-0.13)	―
Feb 04, 2025	2024 (Q4)	1.94 / 1.96	1.78	10.11% (+0.18)	―
Oct 08, 2024	2024 (Q3)	2.29 / 2.31	2.25	2.67% (+0.06)	―
Jul 11, 2024	2024 (Q2)	2.16 / 2.28	2.09	9.09% (+0.19)	―
Apr 23, 2024	2024 (Q1)	1.52 / 1.61	1.5	7.33% (+0.11)	―
Feb 09, 2024	2023 (Q4)	1.72 / 1.78	1.67	6.59% (+0.11)	―
Oct 19, 2023	2025 (Q2)	2.03 / 2.12	2.28	-7.02% (-0.16)	―
Oct 10, 2023	2023 (Q3)	2.15 / 2.25	1.97	14.21% (+0.28)	―
Jul 13, 2023	2023 (Q2)	1.96 / 2.09	1.86	12.37% (+0.23)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

PEP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 24, 2025	$140.72	$133.84	-4.89%
Feb 04, 2025	$147.34	$140.69	-4.51%
Oct 08, 2024	$162.56	$165.68	+1.92%
Jul 11, 2024	$157.84	$158.19	+0.22%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.