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PepsiCo cuts 2026 profit forecast amid North American slowdown
PepsiCo reported third-quarter revenue of $25.3 billion, exceeding analyst expectations with a 5.6% increase. Despite this, the company significantly lowered its full-year 2026 core earnings per share growth forecast to a range of 2.5% to 3.5%, down from a previous projection of 5% to 7%.
The downward revision is primarily attributed to a sluggish recovery in the North American market, where beverage volumes fell by 2% and snack volumes remained flat. Challenges include rising production costs, inflation, and shifting consumer habits influenced by the rise of GLP-1 weight-loss drugs. To combat these pressures, CEO Ramon Laguarta announced plans for additional cost-cutting measures and increased investment in product innovation, such as high-protein snack lines.
While the domestic market faced headwinds, international segments provided strong support. The company saw significant organic growth in markets like India, Latin America, and the Asia-Pacific region, with international operations accounting for 41% of total net revenue.
Entities
BitGo Bank & Trust · Canary Capital · Cboe BZX exchange · CoinDesk · Elliot Investment Management · Elliott Investment Management · North America · PEPE · PepsiCo · Ramon Laguarta · Steve Schmitt
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- [○ 1 SOURCE] Canary Capital filed an amendment for a proposed spot PEPE exchange-traded fund.
- [○ 1 SOURCE] The PEPE token price fell 5.52% over a 24-hour period to approximately $0.00000405.
- [○ 1 SOURCE] The filing proposes listing the ETF shares on the Cboe BZX Exchange.
- [○ 1 SOURCE] BitGo Bank & Trust is proposed as the custodian for the PEPE ETF.
- [○ 1 SOURCE] The proposed ETF trust would hold PEPE directly.