PepsiCo (PEP) Q2 FY26 earnings call

PepsiCo delivered strong first-half revenue and volume growth, primarily driven by robust international performance and strategic volume gains in U.S. foods. However, North American businesses faced unexpected softness in Q2 due to inflationary pressures and higher gas prices impacting consumer behavior, particularly in impulse channels. Management is optimizing affordability investments and leveraging productivity to reaffirm full-year guidance, with a focus on portfolio transformation and international expansion.