Q3 25 EPS
$2.29
BEAT +1.33%
Est. $2.26
Q3 25 Revenue
$23.94B
BEAT +0.38%
Est. $23.85B
vs S&P Since Q3 25
+7.0%
BEATING MARKET
PEP +14.4% vs S&P +7.4%
Market Reaction
Did PEP Beat Earnings? Q3 2025 Results
PepsiCo delivered a modest but clean beat in the third quarter of fiscal 2025, posting core EPS of $2.29 against a consensus estimate of $2.26, a 1.33% positive surprise, while revenue of $23.94 billion edged past the $23.85 billion estimate and grew… Read more PepsiCo delivered a modest but clean beat in the third quarter of fiscal 2025, posting core EPS of $2.29 against a consensus estimate of $2.26, a 1.33% positive surprise, while revenue of $23.94 billion edged past the $23.85 billion estimate and grew 2.6% year-over-year. The headline numbers masked a more complicated picture beneath the surface: organic revenue grew just 1.3%, and GAAP EPS fell 11% to $1.90 as the quarter absorbed $133 million in Rockstar brand impairment charges, $142 million in restructuring costs, and $221 million in acquisition-related items. North American foods remained a drag, with PepsiCo Foods North America seeing organic revenue decline 3%, while the beverage segment held up better on pricing discipline despite volume softness. International markets, particularly EMEA and Latin America, provided meaningful resilience. For investors focused on income, PepsiCo's 53% gross margin profile remains a key anchor, with the company projecting roughly $8.6 billion in shareholder returns this year and reaffirming low-single-digit organic revenue growth guidance for fiscal 2025.
Key Takeaways
- • Resilience of international business driving reported revenue growth acceleration
- • Improved momentum within North America Beverages
- • Benefits of portfolio reshaping actions
- • Effective net pricing of 4 percentage points across total company
- • EMEA organic revenue growth of 5.5% driven by effective net pricing of 6 percentage points
- • Favorable foreign exchange translation contributing 0.5 percentage points to net revenue
PEP YoY Financials
Q3 2025 vs Q3 2024, source: SEC Filings
PEP Revenue by Segment
With YoY comparisons, source: SEC Filings
“Our reported net revenue growth accelerated and reflects the resilience of our international business, improved momentum within North America Beverages and the benefits of our portfolio reshaping actions.”
— Ramon Laguarta, Q3 2025 Earnings Press Release
PEP Earnings Trends
PEP vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
PEP EPS Trend
Earnings per share: estimate vs actual
PEP Revenue Trend
Quarterly revenue: estimate vs actual
PEP Quarterly Results
6 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q2 26 | — | — | — | — | — |
| Q1 26 | — | $1.61 | — | $19.44B | +2.75% |
| Q4 25 BEAT FY | $2.24 | $2.26 | +0.89% | $29.34B | — |
| FY Full Year | $8.11 | $8.14 | +0.33% | $93.93B | +0.56% |
| Q3 25 BEAT | $2.26 | $2.29 | +1.33% | $23.94B | +0.38% |
| Q2 25 BEAT | $2.03 | $2.12 | +4.33% | $22.73B | +1.92% |
| Q1 25 MISS | $1.49 | $1.48 | -0.76% | $17.92B | +1.07% |