PepsiCo, Inc. (PEP) earnings on July 9, 2026
Prior outlook: Pessimistic Outcome: Accurate
PepsiCo rose in early market review after its quarterly report, climbing nearly 2%, but then fell sharply to close 3.26% lower despite expectations of strong results.
PEP price around the earnings
137.86
Change: -3.3%
2026-07-09, 20:00 UTC
- Price: green if it ends above the starting price; red if it ends below
- Start of the measured window
- End of the measured window
- Market open
- Starting price
Prior thesis
Prior outlook: Pessimistic Outcome: Accurate
- Thesis published
Analysts cautious — risk outweighs reward
Analysts expect PepsiCo to report higher earnings, but the stock has been falling steadily and price targets have been cut. The negative trend in expert opinion has worsened over the past week, creating a cautious outlook.
Context analyzed before publication
- Summary
- Analysts cautious — risk outweighs reward
- Playbook
- The stock has been declining for 30 days, and analyst price targets have been lowered recently. Despite a strong recent record of beating earnings estimates, the current market conditions show persistent selling pressure.
- Trend
- Expert opinion worsened over the week
Analysts
Drivers
-
Analysts
Neutral
Most analysts rate the stock as 'Hold' with an average price target of $166, but the overall rating is not a strong buy.
Evidence
- Analyst consensus
- Hold
- Consensus average (1-5)
- 2.58
- Analysts covering the stock
- 22
- Average price target
- 165.55
- Lowest price target
- 132
- Highest price target
- 195
- Upside to price target
- 16.2%
- Quarterly earnings growth
- 26.9%
- Revenue growth
- 8.5%
- Forward EPS
- 9.08
- Trailing EPS
- 6.26
- Analyst moves in the last 60 days
- 10
- Strong buy: 4
- Buy: 4
- Hold: 15
- Sell: 1
- Strong sell: 0
- Strong buy
- 4
- Buy
- 4
- Hold
- 15
- Sell
- 1
- Strong sell
- 0
- July 8, 2026 · BNP Paribas: Maintains rating (Outperform → Outperform)
- July 2, 2026 · UBS: Maintains rating (Buy → Buy)
- July 2, 2026 · Barclays: Maintains rating (Equal-Weight → Equal-Weight)
- July 1, 2026 · JP Morgan: Maintains rating (Overweight → Overweight)
- June 25, 2026 · Citigroup: Maintains rating (Buy → Buy)
- June 25, 2026 · B of A Securities: Maintains rating (Neutral → Neutral)
- June 18, 2026 · Deutsche Bank: Maintains rating (Buy → Buy)
- June 12, 2026 · Piper Sandler: Maintains rating (Overweight → Overweight)
- June 12, 2026 · Bernstein: Initiates coverage (Market Perform)
- June 11, 2026 · TD Cowen: Maintains rating (Hold → Hold)
News and sentiment
Drivers
-
News & sentiment
Neutral
News articles mention PepsiCo as a stock to watch, but there is no strong positive or negative sentiment driving the narrative.
Evidence
Sentiment
- Sentiment
- Constructive
- Mention volume
- Low
- Normalized volume
- 33%
News
Sources (4)
- PepsiCo, Levi Strauss And 3 Stocks To Watch Heading Into Thursday — Benzinga
- PepsiCo Stock Could Swing 4.16% After Earnings on Thursday — Benzinga
- BNP Paribas Maintains Outperform on PepsiCo, Lowers Price Target to $183 — Benzinga
- Top Three S&P 500 Index Stocks to Watch Next Week: PepsiCo, Delta, Micron — Benzinga
Technicals
Drivers
-
Technical
Negative
The stock price dropped 5.38% in the last 30 days, and the consistent downward trend suggests strong selling pressure before the earnings report.
Evidence
- Average true range (ATR)
- 2.6%
- Distance to 52-week high
- -15.7%
- 14-day change (14d)
- -2.5%
- 30-day change (30d)
- -5.4%
- 30-day relative strength
- -5.4%
- Benchmark change (0d)
- +0.0%
- Nearest support
- 142.36
- Nearest resistance
- 143.46
- Volume accumulation ratio (14d / 46d)
- 1.38
Trends
Evidence
- Average earnings surprise
- +2.6%
- April 16, 2026: actual EPS 1.61 vs estimate 1.55 (surprise +3.8%)
- February 3, 2026: actual EPS 2.26 vs estimate 2.24 (surprise +1.0%)
- October 9, 2025: actual EPS 2.29 vs estimate 2.26 (surprise +1.3%)
- July 17, 2025: actual EPS 2.12 vs estimate 2.03 (surprise +4.5%)
Expected move
Drivers
-
Past earnings
Positive
PepsiCo has beaten earnings estimates 100% of the time, with an average surprise of +2.6%, showing consistent historical performance.
There is no implied-move data available for this event.
Reactions over its last 19 earnings
- Median move
- 2.3%
- 75th percentile move
- 4.2%
- 90th percentile move
- 4.9%
- Up / down moves
- 12 / 7
- Average up move
- +2.8%
- Average down move
- -2.7%
Monitoring and close
What PepsiCo, Inc. reported
There is no monitoring data available for this event.
Pre-market second reading after the results
There is no second reading available for this event.
How the stock reacted
- Outcome
- Accurate
- Consolidated
- -3.3%
- Max favorable move (MFE)
- 5.5%
- Max adverse move (MAE)
- 2%