Slide 1: PepsiCo Reports Second-Quarter 2026 Results
PepsiCo Reports Second-Quarter 2026 Results Second-Quarter and Year-to-Date Results1 • Net revenue increased 6.4% and 7.3%, respectively • Organic revenue2 increased 2.4% and 2.5%, respectively • Earnings per share (EPS) increased 137% and 72%, respectively • Core2 EPS increased 4% and 6%, respectiv
Slide 2: Second-Quarter Results Discussion
Second-Quarter Results Discussion • Net revenue increased 6.4% due to 2.4% organic revenue growth, a 2.2-percentage- point benefit from foreign exchange translation and a 1.8-percentage-point net benefit from acquisitions and divestitures. Organic revenue growth reflects the benefits associated with
Slide 3: Summary Second-Quarter 2026 Performance
Summary Second-Quarter 2026 Performance Revenue Volume(a) Percentage Point Impact % Change GAAP Foreign Acquisitions Reported Exchange and Organic Convenient % Change Translation Divestitures % Change Foods Beverages PepsiCo Foods North America (PFNA) (2) — — (2) — PepsiCo Beverages North America (P
Slide 4: Summary Year-to-Date 2026 Performance
Summary Year-to-Date 2026 Performance Revenue Volume(a) Percentage Point Impact % Change GAAP Foreign Acquisitions Reported Exchange and Organic Convenient % Change Translation Divestitures % Change Foods Beverages PFNA — — — (0.5) 1 PBNA 8 — (6) 1 (3) IB Franchise 10 (3) — 8 3 EMEA 13 (6) — 6 6 1 L
Slide 5: Fiscal 2026 Guidance and Outlook
Fiscal 2026 Guidance and Outlook The Company provides guidance on a non-GAAP basis as we cannot predict certain elements which are included in reported GAAP results, including the impact of foreign exchange translation and commodity mark-to-market net impacts. For 2026, the Company continues to expe
Slide 6: Condensed Consolidated Statement of Income
PepsiCo, Inc. and Subsidiaries Condensed Consolidated Statement of Income (in millions, except per share amounts, unaudited) 12 Weeks Ended 24 Weeks Ended 6/13/2026 6/14/2025 6/13/2026 6/14/2025 Net Revenue $ 24,181 $ 22,726 $ 43,624 $ 40,645 Cost of sales 11,070 10,304 19,782 18,230 Gross profit 13
Slide 7: Condensed Consolidated Statement of Cash Flows
PepsiCo, Inc. and Subsidiaries Condensed Consolidated Statement of Cash Flows (in millions, unaudited) 24 Weeks Ended 6/13/2026 6/14/2025 Operating Activities Net income $ 5,342 $ 3,122 Depreciation and amortization 1,639 1,491 Impairment and other charges — 1,860 Operating lease right-of-use asset
Slide 8: Condensed Consolidated Statement of Cash Flows (continued)
PepsiCo, Inc. and Subsidiaries Condensed Consolidated Statement of Cash Flows (continued) (in millions, unaudited) 24 Weeks Ended 6/13/2026 6/14/2025 Financing Activities Proceeds from issuances of long-term debt $ 2,974 $ 3,521 Payments of long-term debt (2,221) (2,543) Short-term borrowings, by or
Slide 9: Condensed Consolidated Balance Sheet
PepsiCo, Inc. and Subsidiaries Condensed Consolidated Balance Sheet (in millions, except per share amounts) (unaudited) 6/13/2026 12/27/2025 ASSETS Current Assets Cash and cash equivalents $ 10,251 $ 9,159 Short-term investments 465 371 Accounts and notes receivable, net 13,496 11,506 Inventories: R
Slide 10: Non-GAAP Measures
Non-GAAP Measures In discussing financial results and guidance, the Company refers to the following measures which are not in accordance with U.S. Generally Accepted Accounting Principles (GAAP): organic revenue performance, core results, core constant currency results, free cash flow and free cash
Slide 11: Impairment and other charges
Impairment and other charges We recognized impairment charges as a result of our quantitative assessments of certain of our indefinite-lived intangible assets, related to the Rockstar and Be & Cheery brands. Pension and retiree medical-related impact Pension and retiree medical-related impact includ
Slide 12: Reconciliation of GAAP and Non-GAAP Information
PepsiCo, Inc. and Subsidiaries Reconciliation of GAAP and Non-GAAP Information Organic Revenue Performance 12 and 24 Weeks Ended June 13, 2026 (dollars in millions, unaudited) 12 Weeks Ended 6/13/2026 IB LatAm Asia Pacific PFNA PBNA Franchise EMEA Foods Foods Total Reported Net Revenue, GAAP measure
Slide 13: Reconciliation of GAAP and Non-GAAP Information
PepsiCo, Inc. and Subsidiaries Reconciliation of GAAP and Non-GAAP Information (continued) Certain Line Items by Segment 12 Weeks Ended June 13, 2026 (dollars in millions, unaudited) Asia Corporate IB LatAm Pacific Unallocated PFNA PBNA Franchise EMEA Foods Foods Expenses Total Reported Cost of Sale
Slide 14: Reconciliation of GAAP and Non-GAAP Information
PepsiCo, Inc. and Subsidiaries Reconciliation of GAAP and Non-GAAP Information (continued) Certain Line Items by Segment (continued) 12 Weeks Ended June 14, 2025 (dollars in millions, unaudited) Asia Corporate IB LatAm Pacific Unallocated PFNA PBNA Franchise EMEA Foods Foods Expenses Total Reported
Slide 15: Reconciliation of GAAP and Non-GAAP Information
PepsiCo, Inc. and Subsidiaries Reconciliation of GAAP and Non-GAAP Information (continued) Certain Line Items by Segment (continued) 24 Weeks Ended June 13, 2026 (dollars in millions, unaudited) Asia Corporate IB LatAm Pacific Unallocated PFNA PBNA Franchise EMEA Foods Foods Expenses Total Reported
Slide 16: Reconciliation of GAAP and Non-GAAP Information
PepsiCo, Inc. and Subsidiaries Reconciliation of GAAP and Non-GAAP Information (continued) Certain Line Items by Segment (continued) 24 Weeks Ended June 14, 2025 (dollars in millions, unaudited) Asia Corporate IB LatAm Pacific Unallocated PFNA PBNA Franchise EMEA Foods Foods Expenses Total Reported
Slide 17: Reconciliation of GAAP and Non-GAAP Information
PepsiCo, Inc. and Subsidiaries Reconciliation of GAAP and Non-GAAP Information (continued) Certain Line Items 12 Weeks Ended June 13, 2026 and June 14, 2025 (dollars in millions, except per share amounts, unaudited) 12 Weeks Ended 6/13/2026 Net income Net income attributable to Provision for attribu
Slide 18: Reconciliation of GAAP and Non-GAAP Information
PepsiCo, Inc. and Subsidiaries Reconciliation of GAAP and Non-GAAP Information (continued) Certain Line Items (continued) 24 Weeks Ended June 13, 2026 and June 14, 2025 (dollars in millions, except per share amounts, unaudited) 24 Weeks Ended 6/13/2026 Net income Other pension attributable to and re
Slide 19: Cautionary Statement
Cautionary Statement Statements in this communication that are “forward-looking statements,” including our 2026 guidance and outlook are based on currently available information, operating plans and projections about future events and trends. Terminology such as “aim,” “anticipate,” “believe,” “driv