PepsiCo (PEP) exceeded analyst expectations for both revenue and earnings in the first quarter of 2026.
The company reported revenue of $19.44 billion, surpassing the $18.92 billion consensus estimate. Core earnings per share reached $1.61, beating the projected $1.54.
International segments drove the quarterly performance. Revenue in the Europe, Middle East, and Africa (EMEA) region rose 18%. EMEA operating profit increased 29%. The Asia Pacific Foods division recorded an 11% revenue surge. Asia Pacific Foods operating profit grew 35%.
Market reaction remained positive following the announcement. Management attributed the results to cost discipline and productivity initiatives. These measures enabled the company to reinvest in growth areas.