Analysts lowered PepsiCo’s 2026 EPS forecast to $8.61 and Q2 estimates amid softer North American snack demand.
Bank of America reduced PepsiCo’s fiscal 2026 earnings per share estimate to $8.61 from $8.65 and trimmed its Q2 forecast to $2.18 from $2.19. The revision reflects weaker performance in PepsiCo Foods North America, where retail sales growth declined 1.0% in Q2 versus 0.6% growth in Q1.
The firm also cut its Q2 consolidated organic sales growth outlook to 2.9% from 3.1% and its full-year forecast to 3.0% from 3.4%. International markets remain a bright spot, with organic sales growth now expected at 5.4%, up from 4.9%. PepsiCo reports results on July 9.
Scanner data indicated a sequential deterioration in North American snack trends, driven by macroeconomic pressures. Despite the downgrades, analysts suggested PepsiCo may still reaffirm its full-year guidance, though the performance mix could shift.