Every material Form 8-K PepsiCo has filed with the SEC since December 08, 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
PepsiCo issued two tranches of €500 million each: 3.750% senior notes due October 16, 2029, and 4.250% senior notes due October 16, 2035, with the notes issued October 16, 2026. The company received net proceeds of about €994 million, which it will use for general corporate purposes, including repaying commercial paper. The notes are unsecured and rank equally with PepsiCo's other unsecured senior debt, so this is a routine debt financing that the filing does not tie to any change in earnings or guidance.
Two €500 million tranches: 3.750% notes due October 16, 2029 and 4.250% notes due October 16, 2035
Prices to public were 99.953% for the 2029 notes and 99.824% for the 2035 notes
Net proceeds of about €994 million for general corporate purposes, including repaying commercial paper
Joint book-running managers were Deutsche Bank AG, London Branch and HSBC Bank plc
PepsiCo reported third-quarter 2026 net revenue of $25.3 billion, up 5.6%, and EPS of $2.23, up 17%, while core EPS rose 2% to $2.34. The company lowered its fiscal 2026 core EPS growth guidance to 2.5% to 3.5%, from a prior low end of 5% to 7%, and cut core constant currency EPS growth guidance to 1% to 2%. For shareholders, strong sales and reported profit gains are offset by a weaker profit outlook for the full year.
Q3 2026 net revenue was $25.3 billion, up 5.6%, with organic revenue up 3.1%
Q3 2026 EPS was $2.23, up 17%; core EPS was $2.34, up 2%
Fiscal 2026 core EPS growth guidance is now 2.5% to 3.5%, versus a prior low end of 5% to 7%
Fiscal 2026 net revenue growth guidance was raised to approximately 6%, from 4% to 6%
PepsiCo's Board elected Joaquin Duato, Chairman and CEO of Johnson & Johnson, as an independent director effective December 1, 2026, and he will serve on the Audit Committee. The filing describes standard director compensation, which gives Mr. Duato a stock award and cash retainer, and it does not describe any change in company results or operations.
Board elected Joaquin Duato as an independent director on September 17, 2026, effective December 1, 2026
Mr. Duato will serve on the Audit Committee effective December 1, 2026
He receives 1,000 shares of PepsiCo common stock plus a prorated annual equity award valued at $166,667 on December 1, 2026
First semi-annual cash retainer payment of $60,000 is due in June 2027
PepsiCo reported second-quarter 2026 results for the 12 weeks ended June 13, 2026, with net revenue of $24.2 billion, up 6.4% from a year earlier, and GAAP EPS of $2.18 versus $0.92. The company affirmed its fiscal 2026 guidance, including organic revenue growth of 2% to 4% and core constant currency EPS growth of 4% to 6%. The prior-year quarter included impairment charges on the Rockstar and Be & Cheery brands, which largely explain the large GAAP EPS increase.
Net revenue of $24.2 billion, up 6.4%; organic revenue up 2.4%
GAAP EPS of $2.18 versus $0.92; core EPS of $2.20, up 4%
Core constant currency EPS up 1% in the quarter
Fiscal 2026 guidance affirmed: total cash returns to shareholders of about $8.9 billion, including $7.9 billion in dividends and $1.0 billion in share repurchases
On May 22, 2026, PepsiCo terminated its two existing $5 billion revolving credit agreements from May 2025, both of which had no outstanding borrowings, and entered into replacements of the same $5 billion size. The new facilities are a 364-day agreement expiring May 21, 2027 and a five-year agreement expiring May 22, 2031, and they are for general corporate purposes, so the filing describes a routine refinancing of existing liquidity rather than a change in borrowing.
Two new $5 billion unsecured revolving credit agreements dated May 22, 2026, replacing agreements dated May 23, 2025
364-day facility expires May 21, 2027; five-year facility expires May 22, 2031
Both facilities can be increased to up to $5.75 billion; the five-year facility includes a $1.2 billion Euro swing line subfacility
Citibank, N.A. is administrative agent; no outstanding borrowings existed under the terminated agreements
PepsiCo reported first-quarter 2026 results for the 12 weeks ended March 21, 2026, with net revenue up 8.5% to $19.4 billion and diluted EPS up 27% to $1.70. The company said it affirmed its fiscal 2026 guidance, and it attributed part of the revenue growth to a 3.4-percentage-point foreign exchange benefit and a 2.5-point net benefit from acquisitions and divestitures, with organic revenue growth at 2.6%.
Net revenue rose to $19.4 billion from $17.9 billion, up 8.5%; organic revenue grew 2.6%
Diluted EPS was $1.70 versus $1.33; core EPS was $1.61 versus $1.48, up 9%
Fiscal 2026 guidance was affirmed, including organic revenue growth of 2% to 4% and core constant currency EPS growth of 4% to 6%
The annualized dividend per share is set to rise 4% beginning with the June 2026 payment
PepsiCo issued four tranches of euro-denominated senior notes on February 11, 2026, with aggregate principal of €2.5 billion and net proceeds of approximately €2,482 million. The proceeds will be used for general corporate purposes, including repaying commercial paper. The filing is a debt financing disclosure and does not report changes to earnings or guidance.
Four tranches total €2.5 billion: floating rate notes due 2028 (€500 million), 3.300% notes due 2034 (€650 million), 3.700% notes due 2038 (€850 million) and 4.150% notes due 2047 (€500 million)
Net proceeds of approximately €2,482 million, to be used for general corporate purposes including repaying commercial paper
Notes were issued February 11, 2026 under a shelf registration on Form S-3; BNP Paribas, Goldman Sachs, Mizuho and Morgan Stanley were joint book-running managers
PepsiCo reported fourth-quarter 2025 net revenue of $29.3 billion, up from $27.8 billion a year earlier, and EPS of $1.85 versus $1.11. For the full year, net revenue rose 2.3% to $93.9 billion, but EPS fell to $6.00 from $6.95, mainly due to impairment charges of $1.99 billion, primarily related to the Rockstar brand. The company affirmed its 2026 guidance and raised its annualized dividend 4% to $5.92 per share, while announcing a new buyback of up to $10 billion through February 28, 2030.
Q4 2025 net revenue $29,343 million vs. $27,784 million; EPS $1.85 vs. $1.11 (up 68%)
Full-year 2025 net revenue $93,925 million vs. $91,854 million (up 2.3%); EPS $6.00 vs. $6.95 (down 14%)
Full-year 2025 impairment of intangible assets $1,993 million, primarily related to the Rockstar brand
2026 guidance affirmed: organic revenue growth 2% to 4%, core constant currency EPS growth 4% to 6%; dividend to $5.92 from $5.69 per share, payable June 2026
PepsiCo announced that Steven Williams, currently Chief Executive Officer, North America, will transition to Executive Vice President & Vice Chairman, Global Chief Commercial Officer & Corporate Affairs, effective December 28, 2025. The filing does not name a successor or describe compensation changes, so the full effect on the company's operations is not yet clear.
Steven Williams moves from CEO, North America to Executive Vice President & Vice Chairman, Global Chief Commercial Officer & Corporate Affairs
Transition is effective December 28, 2025
Filing was announced December 15, 2025 and does not name a successor for the North America role
On December 8, 2025, PepsiCo announced commercial and financial priorities and a preliminary 2026 outlook, following constructive engagement with shareholder Elliott Investment Management. The company expects organic revenue to grow 2% to 4% and core EPS to rise about 5% to 7% in fiscal 2026, after affirming a 2025 outlook that implies a 0.5% core EPS decline. The plan also sets capital spending below 5% of net revenue and free cash flow conversion of at least 80% in 2026.
Core EPS expected to increase about 5% to 7% in fiscal 2026, or about 7% to 9% excluding the impact of global minimum tax regulations.
Organic revenue expected to increase 2% to 4% in 2026; the 2025 outlook implies a 0.5% core EPS decline from 2024 core EPS of $8.16.
Free cash flow conversion expected to be at least 80% in 2026, including a final tax payment of nearly $1 billion, and at least 90% in fiscal 2027.
CEO Ramon Laguarta will hold a discussion on December 9, 2025 at 7:30 a.m. EST; fourth-quarter and full-year 2025 results are scheduled for February 3, 2026.
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