PepsiCo said operating profit increased 24%, citing productivity savings, net revenue growth, a favorable net impact of mark-to-market gains on commodity derivatives, a favorable net impact of acquisition and divestiture-related charges and credits, and a 4 percentage points favorable impact of foreign exchange translation. It added that certain operating cost increases partially offset these gains.

1. 01

   PepsiCo said operating profit increased 24%, citing productivity savings, net revenue growth, a favorable net impact of mark-to-market gains on commodity derivatives, a favorable net impact of acquisition and divestiture-related charges and credits, and a 4 percentage points favorable impact of foreign exchange translation. It added that certain operating cost increases partially offset these gains.

2. 02

   The company said net cash from operating activities for the 12 weeks ended March 21, 2026 was $41 million, compared with net cash used of $1.0 billion in the prior-year period. Net cash used in investing activities was $0.5 billion and net cash provided by financing activities was $1.7 billion.

3. 03

   PepsiCo announced a new share repurchase program of up to $10 billion effective February 1, 2026 through February 28, 2030 as of February 3, 2026, and an increase in its annual dividend of 4% from $5.69 to $5.92. The company said it expects 2026 shareholder returns of approximately $8.9 billion, comprising dividends of approximately $7.9 billion and share repurchases of approximately $1.0 billion.

4. 04

   PepsiCo said it expects to incur pre-tax charges of approximately $6.15 billion, including cash expenditures of approximately $5.1 billion, related to its 2019 Productivity Plan extended through the end of 2030. Plan-to-date through March 21, 2026, the company has incurred pre-tax charges of $3.7 billion, including cash expenditures of $2.8 billion.

Key figures

Quarter ended March 21, 2026

Revenue

$19.4B

Operating income

$3.2B

Net income

$2.3B

EPS

$1.70

Gross profit

$10.7B

Operating cash flow

$41M

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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