PepsiCo (PEP)
Coverage summary
Aardvark Labs Capital Research has covered PepsiCo (PEP) since July 18, 2025. The company is in the Consumer Defensive sector. This page lists 6 reports: 6 earnings recaps.
The latest is the Q3 2026 Earnings Recap, published October 16, 2026. The current rating is Hold, unchanged since the Q2 2026 Earnings Recap of July 11, 2026. The rating has changed twice since coverage began.
Translations: 6 in Chinese.
Rating history
All PEP reports
Recap: Q3 2026
The Guide Finally Breaks: A Tariff-Built Beat, a Margin-Driven Cut to +1–2% Constant-Currency EPS Growth, and a Stock That Had Already Priced It. Maintaining Hold
Recap: Q2 2026
The Turn Stalls: Frito-Lay Volume Fades to Flat, North America Softer Than Expected, and the Guide Leans to the Low End. Downgrading to Hold
Recap: Q1 2026
The Volume Inflection Lands: Frito-Lay Turns Positive, Organic Revenue Accelerates to +2.6%, Core EPS Grows 9% and FY26 Guidance Holds — But the Turn Is Now Priced. Maintain Outperform
Recap: Q4 2025
The Turn Arrives: Revenue Re-Accelerates, NA Beverages Profit Jumps 33%, Frito-Lay Volume Heads Toward Flat, and a Double-Digit EPS Quarter Completes the Upgrade Case — Upgrading to Outperform
Recap: Q3 2025
Beverages Inflect, the Cost Program Goes Explicit, and Elliott Adds a Catalyst — But Frito-Lay Volume Got Worse, So the Upgrade Waits: Maintaining Hold
Recap: Q2 2025
Washed-Out Sentiment Meets a Modest Beat: The FX Headwind Halves and International Carries the Quarter, But North America Volume Is Still the Whole Story — Initiating at Hold