PEP · 10-Q · 2026Q2 · Full report

Market Demand Trends

PEPSICO INC · 2026-07-09 · Importance 37 · Surprise 32

PepsiCo reports mixed unit-volume and organic revenue trends across its portfolio: consolidated unit volume and organic revenue were negative on a 12- and 24-week basis, while several international segments posted double-digit organic net revenue and unit-volume growth (IB Franchise +11% net revenue, Asia Pacific Foods unit volume +10%). Beverage volume declines were concentrated in North America (PBNA CSD and NCB down ~3–4%), while savory snacks drove PFNA volume growth (+1% savory snacks for the 24 weeks). Management highlights effective net pricing as a partial offset to lower organic volumes in several markets and cites productivity savings supporting results. The company explicitly measures volume at the consumer level (unit volume/CSE) and uses organic revenue performance (FX, M&A adjusted) for comparability across periods.