PURCHASE (dpa-AFX) - Snack and beverage major PepsiCo, Inc. (PEP) reported Thursday higher third-quarter profit and sales. Further, the firm trimmed fiscal 2026 core earnings per share growth view, and updated revenue growth forecast.
Net income attributable to PepsiCo reached $3.048 billion, up from $2.603 billion in the prior year period. Earnings per share increased 17 percent to $2.23 from $1.90 a year ago. Core earnings per share were $2.34, compared to $2.29 last year.
Net revenue increased 5.6 percent to $25.274 billion from $23.937 billion in the year-ago quarter. Organic revenue growth reached 3.1 percent.
Further, the company updated its fiscal 2026 financial guidance. PepsiCo now expects core earnings per share growth of 2.5 percent to 3.5 percent, compared to previous outlook at the low end of 5 percent to 7 percent growth range.
Net revenue is projected to grow approximately 6 percent, compared with the prior guidance of a growth of 4 percent to 6 percent. Organic revenue is now expected to increase approximately 3 percent, revised from the previous range of a growth of 2 percent to 4 percent.
PepsiCo still expects to return $8.9 billion in cash to shareholders.
In pre-market activity on Nasdaq, the shares were trading at $123.70, down 0.02 percent.
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