PEP / Q3 FY2026

PepsiCo

Reports 2026-10-08 · 6:00 AM ET

Published forecast

Oct 4, 2026, 9:49 PM PDT

Opus 5.5 High in Shortcut

Shortcut

2.31

Shortcut

+0.2% vs Street

Street

2.30

Street

Frozen October 4 snapshot

Real

2.34

Real

Shortcut win

Q3 FY2026 normalized EPS uses PepsiCo’s core diluted EPS of $2.34. Core earnings include tariff refunds, consistent with the published forecast’s selected treatment. GAAP EPS was $2.23.

Issuer earnings release ↗

Absolute EPS error: Shortcut 3.5¢ · Street 4.0¢. Scored using the saved published forecast.

The $2.31 forecast includes an assumed tariff refund. Its amount, timing and normalized-EPS treatment remain uncertain. Without it, the model gives about $2.22.

Explore the model.

Open the assumptions and calculations behind this earnings forecast.

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Behind the estimate.

The model expects international growth and expanded distribution to offset weaker North American demand. Pricing investments, higher costs and a higher tax rate keep earnings near the Street despite revenue growth.

A tariff refund is the swing factor. The $2.31 forecast assumes roughly $144m pretax is recognized this quarter and included in core earnings. Without it, EPS is about $2.22; another reading of management’s commentary gives about $2.25. The published forecast stays fixed.

Forecast and independent review: Opus 5.5 High in Shortcut.

On the record.

Reporting period: Q3 FY2026, ended 2026-09-05
Reporting basis: Normalized/core diluted EPS assuming tariff-refund inclusion, USD per common share
Published: Oct 4, 2026, 9:49 PM PDT
Model / effort: Opus 5.5 · High effort

Original forecasts, models and publication times remain on the record.