PepsiCo cuts 2026 profit outlook, cites North American demand and margin pressure

On October 8, PepsiCo said North American growth and margin recovery were taking longer than planned, announced additional cost cuts, and lowered 2026 core constant-currency EPS growth guidance to 1%–2% from the prior low end of 4%–6%. Q3 beverage volumes in North America fell 2%; Reuters cited RBC analyst Nik Modi saying PepsiCo could continue losing beverage share to Coca-Cola and Keurig Dr Pepp