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Sentiment · FY2026 Q2
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“So Pepsi is making substantial price investments, embarking on a lot of product to do it.”
An analyst cites PepsiCo's substantial price investments as a market example of consumer-pressure-driven pricing strategy, asking whether Clorox would do the same.
“And now we see Ramon doing the same thing at PepsiCo where he's trying to bring together you know, the beverage business and the snack business. He's kinda building a one PepsiCo vision.”
PepsiCo is deploying Salesforce's data cloud to unify its beverage and snack business units under a single customer view.
“We've seen a number of food companies from PepsiCo to [ Mills ] to Kraft Heinz invest in price as part of the solution to stimulate volumes”
An analyst cites PepsiCo as an example of a food company investing in price to stimulate volumes in a challenged-volume category.
“activist investors uniquely involved at both PepsiCo and Keurig Dr. Pepper”
An analyst framed Coca-Cola's two key competitors PepsiCo and Keurig Dr Pepper as dealing with structural considerations and activist investors; management declined to comment specifically.
“including a new line of Iced Energy and Frappucino-like beverages in partnership with PepsiCo”
Starbucks continues to extend its global channel/ready-to-drink business through its long-standing bottled beverage partnership with PepsiCo, launching new Iced Energy and Frappuccino-style products.
“We continue to help organizations of all sizes accelerate their transition to the cloud, signing new agreements with companies, including PepsiCo, Airbnb, Peloton, NASDAQ, London Stock Exchange, Nissan Motor, GitLab, SAP, Warner Bros. Discovery, 12 Labs, FICO, Iberia Airlines, SK Telecom and NatWest.”
PepsiCo signed a new AWS cloud agreement this quarter, one of several notable enterprise wins AWS cited.
“We’re thrilled to see creative professionals in enterprises and agencies; including dentsu, PepsiCo and Stagwell, finding success with the video model.”
PepsiCo is cited as an enterprise finding success with Adobe's Firefly Video Model for production-ready content creation.
“Market share of certain competitors were as follows. CELSIUS 7.8%, C4 3.5%, GHOST 2.9%, 5-Hour 2.8%, Alani Nu 2.7% and Rockstar 2.4%.”
Rockstar, owned by PepsiCo, held 2.4% dollar share of the convenience/gas energy drink category per the same Nielsen data.
“Pepsi, for their Gatorade brand, is enabling their customers to personalize any merchandise that they are buying, in particular, starting with Gatorade bottles.”
Pepsi is using Adobe Firefly Services to power consumer-facing personalized merchandise for its Gatorade brand, an early real-world enterprise deployment of Adobe's generative AI content APIs.
“Some of the innovation that we have in the Starbucks portfolio is intended to do that.”
PepsiCo references innovation in its Starbucks ready-to-drink partnership portfolio as a lever to reaccelerate its coffee business.
“Some of that is business that we acquired like poppi”
PepsiCo cites its acquired prebiotic-soda brand poppi as a contributor to PBNA's inorganic growth, and separately notes poppi is starting to accelerate.
“we see ourselves participating in the energy portfolio through our CELSIUS investment and our distribution of CELSIUS, that's gaining share”
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Dara Mohsenian | Morgan Stanley | 8 (13%) |
| Bonnie Herzog | Goldman Sachs | 8 (25%) |
| Steve Powers | Deutsche Bank | 7 (14%) |
| Filippo Falorni | Citigroup | 7 (0%) |
| Mike Lavery | Piper Sandler | 7 (0%) |
| Lauren Lieberman | Barclays | 7 (57%) |
| Kaumil Gajrawala | Jefferies | 7 (14%) |
| Chris Carey | Wells Fargo | 7 (0%) |
| Peter Grom | UBS | 7 (0%) |
| Rob Moskow | TD Cowen | 6 (33%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Morgan Stanley | 1 | 8 (13%) |
| Goldman Sachs | 1 | 8 (25%) |
| Citigroup | 1 | 7 (0%) |
| Deutsche Bank | 1 |
PepsiCo credits its equity stake in and distribution of Celsius for energy-drink share gains, a positive read-through for Celsius's momentum in the energy category.
“the introduction or the integration of the Alani new portfolio into our business has been pretty positive so far”
PepsiCo is onboarding distribution of the Alani Nu energy brand (owned by Celsius) into its system, describing early integration as positive.
“The way we've engineered this through a combination of a distribution margin plus participating in ownership of CELSIUS, I think, is a good way for us to participate. The CELSIUS brand continues to grow.”
PepsiCo holds an ownership stake in energy-drink maker Celsius alongside a distribution arrangement, and reports the Celsius brand continues to grow, a positive read-through for Celsius.
“Bajablast is a very solid platform, a billion dollars in retail value when you include both our sales and Taco Bell sales.”
PepsiCo's Mountain Dew Baja Blast is a ~$1B platform including Taco Bell (Yum Brands) foodservice sales, highlighting the exclusive distribution partnership.
“we have a JV with Starbucks that is very successful and that will continue to provide energy solutions, energy plus solutions, not only energy in the coming years.”
PepsiCo highlights its longstanding ready-to-drink coffee joint venture with Starbucks as a successful and ongoing growth driver, including expansion into energy-adjacent offerings.
“We're participating in ownership of some businesses like CELSIUS.”
PepsiCo describes its equity stake in Celsius as part of its energy-drink category strategy, alongside distribution value it creates from its infrastructure.
“we have also, I think, a pretty good development of the tea category ahead of us with our partnership with Unilever.”
PepsiCo highlights its tea-category partnership with Unilever (Lipton) as a growth avenue in beverages.
“with Starbucks on the coffee space”
PepsiCo cites its ready-to-drink coffee partnership with Starbucks as part of its inorganic/partnership growth strategy in beverages.
“We're having conversations with Celsius, obviously after they acquired new brands and still I would say early discussions about how we can find ways to participate or not in this new acquisition.”
PepsiCo has an existing distribution partnership with energy-drink maker Celsius and is in early discussions about participating in Celsius's recent acquisition of Alani Nu.
“Again, this is all subject to regulatory approval. So, when things are approved, then I think we can talk more about Poppy and how we're planning to integrate that into the business.”
PepsiCo's pending acquisition of prebiotic soda maker Poppi is still awaiting regulatory approval before integration planning can be detailed.
| 7 (14%) |
| Evercore ISI | 2 | 7 (14%) |
| Jefferies | 1 | 7 (14%) |
| JPMorgan | 2 | 7 (14%) |
| Wells Fargo | 1 | 7 (0%) |
PepsiCo delivered Q1 organic revenue growth of 2.6% with core EPS increasing 9% year-over-year. PFNA volume recovery was underway with shelf reset execution driving results. PBNA showed platform growth and portfolio expansion, and international business accelerated. Productivity and cost transformation programs continued. Management affirmed FY2026 guidance of 2-4% organic revenue growth with no change. Innovation pipeline and permissible portfolio expansion advanced. The Iran conflict tested supply chain resilience.
Demand | Revenue Growth | Competitive Dynamics | Pricing | Margin | Product Launch | Guidance Reliability | Capital Allocation | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 6 | 2 | 4 | 4 | 3 | 3 | 2 | 1 |
| 2025Q1 | 5 | 4 | 4 | 3 | 2 | 1 | 2 | 1 |
| 2025Q2 | 3 | 3 | 2 | 1 | 3 | 4 | 3 | 2 |
| 2025Q3 | 5 | 2 | 1 | 2 | 3 | 2 | 2 | 4 |
| 2025Q4 | 8 | 3 | 5 | 3 | 2 | 3 | 3 | 1 |
| 2026Q1 | 9 | 7 | 6 | 3 | 2 | 2 | 1 | 2 |
| 2026Q2 | 11 | 4 | 2 | 5 | 6 | 2 | 2 | 3 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | '26Q2 | |
|---|---|---|---|---|---|---|---|
| Demand | 6 | 5 | 3 | 5 | 8 | 9 | 11 |
| Revenue Growth | 2 | 4 | 3 | 2 | 3 | 7 | 4 |
| Competitive Dynamics | 4 | 4 | 2 | 1 | 5 | 6 | 2 |
| Pricing | 4 | 3 | 1 | 2 | 3 | 3 | 5 |
| Margin | 3 | 2 | 3 | 3 | 2 | 2 | 6 |
| Product Launch | 3 | 1 | 4 | 2 | 3 | 2 | 2 |
| Guidance Reliability | 2 | 2 | 3 | 2 | 3 | 1 | 2 |
| Capital Allocation | 1 | 1 | 2 | 4 | 1 | 2 | 3 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
PEP PepsiCo | 6 | +6.4% | |
| KDP Keurig Dr Pepper | 6 | +9.4% | |
| KO The Coca-Cola Company | 9 | +12.1% | |
| MNST Monster Beverage | 8 | +26.9% |