PepsiCo Cuts 2026 Profit Forecast as North America Volumes Fall Again, Promises More Cost Cuts
PepsiCo beat third-quarter estimates on international strength but cut its full-year core earnings outlook because North America is recovering more slowly than planned. CFO Steve Schmitt said North American margins will stay under pressure in the fourth quarter, and more cost cuts are coming. The 100-basis-point margin target set after Elliott's push is now the number to watch.