EI Earnings Insight Lab
Pepsico, Inc.

Pepsico, Inc. Q3 2023 Earnings Analysis

Reported on 2023-10-10 / Fiscal Quarter Q3 2023
Revenue Up YoY Sequential Improvement Margin Improving EPS Up YoY Strong Quarter
Pepsico, Inc. delivered a constructive Q3 2023, with growth supported by improving profitability.

Revenue grew 6.7% year over year and rose 5.1% sequentially. Margins improved from the previous quarter, suggesting stronger cost discipline and operational efficiency. Pepsico, Inc. also posted year-over-year earnings growth, reinforcing a more resilient operating profile.

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Source: Company filings / processed earnings data
Revenue
$23.5B
YoY: 6.7453%
QoQ: 5.0668%
Net Income
$3.1B
YoY: 14.4338%
QoQ: 12.52%
EPS (Diluted)
$2.24
YoY: 14.87%
Net Margin
13.2%
YoY: 0.89 pts
QoQ: 0.87 pts
Gross Margin
54.5%
Operating Margin
17.1%
Growth

Revenue trend

Revenue growth stayed positive, supporting a healthier topline trend.

Profitability

Margin and earnings quality

Margins improved from last quarter, suggesting that cost controls are starting to offset topline weakness.

Investor Focus

What matters next

Investors will continue watching execution quality.

Revenue & YoY Growth

Quarterly

Revenue trend and year-over-year growth across recent reported quarterly periods.

Net Income & Net Margin

Quarterly

Net income and net margin trend over recent reported quarterly periods.

Revenue Analysis

Pepsico, Inc. reported $23.5B in revenue for Q3 2023, up 6.7% YoY and up 5.1% QoQ. Positive year-over-year growth suggests healthier revenue momentum.

Revenue Snapshot
Current Quarter $23.5B
Previous Quarter $22.3B
Same Quarter Last Year $22.0B
YoY Change +6.7%
QoQ Change +5.1%

Profitability Analysis

Net income came in at $3.1B, up 14.4% YoY and up 12.5% QoQ. Net margin was 13.2%. Sequential margin improvement suggests stronger operating discipline despite a mixed revenue environment.

Profitability Snapshot
Net Income $3.1B
EPS $2.24
Net Margin 13.2%
QoQ Margin Change +0.9 pts

Frequently Asked Questions

Quick factual answers for this report. Need the why behind them? Ask the report assistant.

What was Pepsico, Inc.'s revenue in Q3 2023?

Pepsico, Inc. reported revenue of $23.5B in Q3 2023.

What was Pepsico, Inc.'s net income in Q3 2023?

Pepsico, Inc. reported net income of $3.1B in Q3 2023.

How did Pepsico, Inc.'s revenue change year over year?

Pepsico, Inc.'s revenue increased by 6.7% year over year in Q3 2023.

What was Pepsico, Inc.'s net margin in Q3 2023?

Pepsico, Inc.'s net margin was 13.2% in Q3 2023.

Related
Pepsico, Inc. Q2 2023 Earnings

Compare this quarter with the previous earnings report.

Related
Pepsico, Inc. Company Overview

Explore company profile, industry, and historical context.

Related
Pepsico, Inc. Revenue & Profit Trends

View more quarterly financial trend pages for this company.

Data Source & Methodology

Financial data is sourced from company filings and internal processed earnings data.

YoY and QoQ values are derived from reported quarterly figures when not directly available.

This page is for informational purposes only and does not constitute investment advice.

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