PepsiCo's first quarter 2026 revenue and EPS beat estimates, as North American food volumes returned to growth.

PepsiCo reported first quarter 2026 net revenue of $19.44 billion, an increase of 8.5% year-over-year, and core EPS of $1.61, up 9%. The results surpassed analyst expectations, and the company reaffirmed its full-year 2026 financial guidance.

Key Highlights

• Organic revenue grew 2.6%, driven by effective net pricing and a slight contribution from a return to overall organic volume growth.
• PepsiCo Foods North America (PFNA) volume grew 2%, a notable improvement signaling that recent affordability and innovation initiatives are gaining traction with consumers.
• The company affirmed its fiscal 2026 outlook, which calls for organic revenue growth between 2% and 4% and core constant currency EPS growth between 4% and 6%.