PEP · 10-Q · 2026Q2 · Full report
Items Affecting Comparability
PEPSICO INC · 2026-07-09 · Importance 13 · Surprise 6 · No source text
PepsiCo presents non‑GAAP “core” results adjusted for specified items including mark‑to‑market on commodity derivatives, restructuring and impairment charges, and acquisition/divestiture‑related charges/credits.,For the 24 weeks ended June 13, 2026, reported operating profit was $7,236 million while operating profit adjusted for items affecting comparability (core) was $7,117 million, indicating a $119 million net impact of those items in the period.,For the 12 weeks ended June 13, 2026, reported operating profit was $4,023 million versus core operating profit of $4,067 million, illustrating the importance of these adjustments when comparing year‑over‑year performance.
Key facts
- For the 12 weeks ended June 13, 2026 operating profit increased 125%, primarily driven by prior-year impairment charges related to the Rockstar and Be & Cheery brands, productivity savings, effective net pricing, lower restructuring charges and a favorable net impact of acquisition and divestiture-related charges/credits, partially offset by certain operating cost increases. source
- For the 24 weeks ended June 13, 2026 operating profit increased 65%, primarily driven by prior-year impairment charges related to the Rockstar and Be & Cheery brands, productivity savings, effective net pricing, a favorable net impact of acquisition and divestiture-related charges/credits and lower restructuring charges, partially offset by certain operating cost increases. source
- Core, non-GAAP operating profit total for the 24 weeks ended June 13, 2026 was $7,117 after adjusting for items affecting comparability. source
- Mark-to-market net impact for the 12 weeks ended June 13, 2026 included (8) in cost of sales and (32) in gross profit adjustments. source
- Tabular dollars are presented in millions, except per share amounts. source
- All per share amounts reflect common stock per share amounts, assume dilution unless otherwise noted, and are based on unrounded amounts. source
- KPMG LLP reviewed PepsiCo's condensed consolidated interim financial information and, based on their reviews, stated they are not aware of any material modifications that should be made for conformity with U.S. GAAP. source
Impact estimates
| metric | direction | stage | expected | basis |
|---|---|---|---|---|
| operating_income | positive | realized | — | Core, non-GAAP operating profit total for the 24 weeks ended June 13, 2026 was $7,117 after adjusting for items affecting comparability. |