PepsiCo Q1 Adjusted EPS $1.61 Beats by $0.06, Revenues Up 8.5%
PepsiCo reported Q1 adjusted EPS of $1.61, topping consensus by $0.06, on revenue of $19.44 billion, up 8.5% year-over-year driven by 2.6% organic growth. Operating profit rose 24% to $3.21 billion with margin expanding to 15.7%; PepsiCo reaffirmed FY26 organic revenue guidance of 2%-4% and EPS growth of 4%-6%.
1. Q1 Financial Results
PepsiCo’s first-quarter adjusted EPS reached $1.61, surpassing estimates by $0.06, on revenue of $19.44 billion, up 8.5% from $17.91 billion a year earlier. GAAP EPS rose 27% to $1.70, while core EPS climbed 9% to $1.61.
2. Segment Performance
Operating profit increased 24% to $3.21 billion, and core operating profit rose 9% to $3.05 billion. Core operating margin expanded by 10 basis points to 15.7%, driven by productivity gains, favorable foreign exchange and balanced pricing and volume growth across North America food and beverage segments.
3. Full-Year Outlook
PepsiCo reaffirmed its fiscal 2026 outlook, forecasting 2%-4% organic revenue growth and 4%-6% core constant currency EPS growth. The midpoint implies roughly 5% EPS growth, reflecting confidence in pricing, cost management and steady volume trends.