PEP

EX-99.1

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EX-99.1

Document

Exhibit 99.1

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%, respectively

•Core constant currency2 EPS increased 1% and 3%, respectively

Guidance

•Company affirms fiscal 2026 financial guidance2

PURCHASE, N.Y. - July 9, 2026 - PepsiCo, Inc. (NASDAQ: PEP) today reported results for second-quarter 2026.

"Our second quarter results featured strong organic volume and net revenue growth for the global convenient foods and global beverages businesses. Year-to-date, PepsiCo's global organic volume has increased at the highest rate since 2022 - aided by the strength of the international business and the continued evolution of the portfolio to offer more choices through portion control varieties, diverse ingredients, functional benefits such as hydration, protein and fiber, energy and zero sugar beverage varieties," said Chairman and CEO, Ramon Laguarta.

Laguarta continued, "Looking ahead, we will continue to execute on our strategic priorities with a focus on accelerating top line growth – including the restaging of certain global brands, innovating with emerging, functional and permissible offerings and investing in certain affordability initiatives. We are also elevating productivity across the organization to improve operating leverage."

Second-QuarterYear-to-Date

($ in millions, except EPS)Q2 2026Q2 2025ChangeQ2 2026Q2 2025Change

Net revenue$24,181$22,7266.4%$43,624$40,6457.3%

Organic revenue performance2.4%2.5%

Operating profit$4,023$1,789125%$7,236$4,37265%

Operating margin 16.6%7.9%875 bps16.6%10.8%585 bps

Core operating profit$4,067$3,9114%$7,117$6,7006%

Core operating margin16.8%17.2%(40) bps16.3%16.5%(15) bps

EPS$2.18$0.92137%$3.88$2.2572%

Core EPS$2.20$2.124%$3.81$3.596%

Core constant currency EPS1%3%

1 Versus the prior year.

2 Please refer to the reconciliation of generally accepted accounting principles (GAAP) and non-GAAP information in the attached exhibits and to the Glossary for the definitions of non-GAAP financial measures, including “Organic revenue performance,” “Core” and “Constant currency,” and to “Guidance and Outlook” for additional information regarding PepsiCo’s full-year 2026 financial guidance. PepsiCo 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 and commodity mark-to-market net impacts. Please refer to PepsiCo’s Quarterly Report on Form 10-Q for the 12 and 24 weeks ended June 13, 2026 (Q2 2026 Form 10-Q) filed with the Securities and Exchange Commission (SEC) for additional information regarding PepsiCo’s financial results.

1

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 effective net pricing and a contribution from organic volume growth.

◦In North America, the convenient foods business gained volume market share aided by innovation and affordability initiatives. Convenient foods net revenue declined and primarily reflects lower effective net pricing. The beverages business delivered strong net revenue growth, primarily reflecting the benefits of acquisitions made in 2025 and organic growth.

◦The international businesses performed well with each segment delivering strong net revenue growth - aided by organic volume growth within Asia Pacific Foods, International Beverages Franchise and Europe, Middle East and Africa and a sequential improvement in organic volume trends in Latin America Foods.

•Operating profit increased 125% and operating margin expanded 875 basis points, reflecting prior-year impairment charges related to the Rockstar and Be & Cheery brands, lower restructuring charges and a favorable net impact of acquisition and divestiture-related charges/credits. Core operating profit increased 4%, with core operating margin contracting 40 basis points. The core operating profit performance was primarily driven by productivity savings and effective net pricing, partially offset by certain operating cost increases.

•EPS increased 137% and core EPS increased 4%, primarily driven by operating profit growth.

Year-to-Date Results Discussion

•Net revenue increased 7.3% due to a 2.7-percentage-point benefit from foreign exchange translation, 2.5% organic revenue growth and a 2.1-percentage-point net benefit from acquisitions and divestitures. Organic revenue growth reflects the benefits associated with effective net pricing and a contribution from organic volume growth.

◦In North America, organic volum

EX-99.1

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EX-99.1

Document

Exhibit 99.1

PepsiCo Reports First-Quarter 2026 Results1

•Net revenue increased 8.5% and organic revenue2 increased 2.6%

•Earnings per share (EPS) increased 27%

•Core2 EPS increased 9%

•Core constant currency2 EPS increased 5%

•Company affirms fiscal 2026 financial guidance2

PURCHASE, N.Y. - April 16, 2026 - PepsiCo, Inc. (NASDAQ: PEP) today reported results for first-quarter 2026.

“We are pleased with our first-quarter results, which featured an acceleration in both net revenue and organic revenue growth – with a notable improvement in convenient foods organic volume. An extensive commercial agenda, which includes the restaging of large global brands, innovation activity and certain affordability initiatives, is being executed well and business performance improved,” said Chairman and CEO, Ramon Laguarta.

Laguarta continued, “We are encouraged with the resilience of the International business while North America continued to make progress in the first quarter. As we look ahead, we aim to successfully execute our commercial plans and tightly manage costs to help fund investments to accelerate growth. Therefore, we are affirming fiscal 2026 financial guidance and expected cash returns to shareholders – including the previously announced 4 percent increase in the annualized dividend per share beginning with the June 2026 payment, which will represent our 54th consecutive annual increase.”

First-Quarter Results Discussion

($ in millions, except EPS)Q1 2026Q1 2025Change

Net revenue$19,443$17,9198.5%

Organic revenue performance2.6%

Operating profit$3,213$2,58324%

Operating margin 16.5%14.4%210 bps

Core operating profit$3,050$2,7899%

Core operating margin15.7%15.6%10 bps

EPS$1.70$1.3327%

Core EPS$1.61$1.489%

Core constant currency EPS5%

1 Versus the prior year.

2 Please refer to the reconciliation of generally accepted accounting principles (GAAP) and non-GAAP information in the attached exhibits and to the Glossary for the definitions of non-GAAP financial measures, including “Organic revenue performance,” “Core” and “Constant currency,” and to “Guidance and Outlook” for additional information regarding PepsiCo’s full-year 2026 financial guidance. PepsiCo 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 and commodity mark-to-market net impacts. Please refer to PepsiCo’s Quarterly Report on Form 10-Q for the 12 weeks ended March 21, 2026 (Q1 2026 Form 10-Q) filed with the Securities and Exchange Commission (SEC) for additional information regarding PepsiCo’s financial results.

1

•Net revenue increased 8.5% due to a 3.4-percentage-point benefit from foreign exchange translation, 2.6% organic revenue growth, and a 2.5-percentage-point net benefit from acquisitions and divestitures. Organic revenue growth reflects the benefits associated with effective net pricing and a slight contribution from organic volume growth.

◦In North America, PepsiCo Foods and PepsiCo Beverages delivered a sequential acceleration in reported net revenue and organic revenue growth. PepsiCo Foods delivered volume growth as innovation and affordability initiatives began to take hold. PepsiCo Beverages volume trends also improved sequentially and versus the prior year.

◦The international businesses performed well with each segment delivering a sequential acceleration in net revenue growth. Organic revenue growth was aided by good performance in Asia Pacific Foods; Europe, Middle East and Africa; and International Beverages Franchise while Latin America Foods remained resilient.

•Operating profit increased 24% and operating margin expanded 210 basis points. This reflects a core operating profit increase of 9%, with core operating margin expansion of 10 basis points, a favorable impact of net mark-to-market gains on commodity derivatives and a favorable net impact of acquisition and divestiture-related charges/credits. Core operating profit performance was primarily driven by productivity savings, net revenue growth and a 4-percentage-point benefit from foreign exchange translation, partially offset by certain operating cost increases.

•EPS increased 27% and core EPS increased 9%, primarily driven by the operating profit growth.

2

Summary First-Quarter 2026 Performance

Revenue Volume(a)

GAAP Reported % ChangePercentage Point ImpactOrganic % Change% Change

Foreign Exchange TranslationAcquisitions and DivestituresConvenient FoodsBeverages

PepsiCo Foods North America (PFNA)2—(1)12

PepsiCo Beverages North America (PBNA)9—(7)2(2.5)

International Beverages Franchise (IB Franchise)9(4)—50.5

Europe, Middle East and Africa (EMEA)18(12)—792

Latin America Foods (LatAm Foods)16(13)—3(2)

Asia Pacific Foods11(4)—79

Total9(3)(2.5)34—

Operating Profit and EPS

GAAP Reported % ChangePercentage Point ImpactCore Constant Currency % Change

Items Affecting Comp

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 3, 2026 PepsiCo, Inc. (Exact name of registrant as specified in its charter)

North Carolina 1-1183 13-1584302 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)

700 Anderson Hill Road, Purchase, New York 10577 (Address of principal executive offices and Zip Code) Registrant’s telephone number, including area code: (914) 253-2000 N/A (Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Securities Exchange Act of 1934:

Title of each classTrading SymbolsName of each exchange on which registered Common Stock, par value 1-2/3 cents per sharePEPThe Nasdaq Stock Market LLC

2.625% Senior Notes Due 2026PEP26The Nasdaq Stock Market LLC 0.750% Senior Notes Due 2027PEP27The Nasdaq Stock Market LLC 0.875% Senior Notes Due 2028PEP28The Nasdaq Stock Market LLC 0.500% Senior Notes Due 2028PEP28AThe Nasdaq Stock Market LLC 3.200% Senior Notes Due 2029PEP29The Nasdaq Stock Market LLC 1.125% Senior Notes Due 2031PEP31The Nasdaq Stock Market LLC 0.400% Senior Notes Due 2032PEP32The Nasdaq Stock Market LLC 0.750% Senior Notes Due 2033PEP33The Nasdaq Stock Market LLC 3.550% Senior Notes Due 2034PEP34The Nasdaq Stock Market LLC 3.450% Senior Notes Due 2037PEP37The Nasdaq Stock Market LLC 0.875% Senior Notes Due 2039PEP39The Nasdaq Stock Market LLC 1.050% Senior Notes Due 2050PEP50The Nasdaq Stock Market LLC 4.050% Senior Notes Due 2055PEP55The Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 2.02. Results of Operations and Financial Condition. The information in this Item 2.02, including Exhibit 99.1 attached hereto, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (“Exchange Act”), or otherwise subject to the liabilities of that Section and shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise expressly stated in such filing. Attached as Exhibit 99.1 and incorporated by reference into this Item 2.02 is a copy of the press release issued by PepsiCo, Inc. (“PepsiCo”), dated February 3, 2026, reporting PepsiCo’s financial results for the 16 and 52 weeks ended December 27, 2025. Item 9.01. Financial Statements and Exhibits. (d) Exhibits

Exhibit No.Description 99.1 Press Release issued by PepsiCo, Inc., dated February 3, 2026.

104The cover page from this Current Report on Form 8-K, formatted in Inline XBRL.

SIGNATURES

Pursuant to the requirements of the Se