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PepsiCo Inc. advanced 1.1% to $124.98 after the food and beverage company reported better-than-expected revenue in the third quarter despite lackluster North American demand.
Revenue increased 5.6% to $25.2 billion from $23.9 billion, net income rose to $3.1 billion from $2.6 billion, and diluted earnings per share inched higher to $2.23 from $1.90 a year ago.
Net revenue increased 5.6% due to 3.1% organic revenue growth, a 1.7-percentage-point net benefit from acquisitions and divestitures, and a 0.7-percentage-point benefit from foreign exchange translation.
PepsiCo Food North America volumes were flat in the quarter, but Asia Pacific food volume surged 10% from a year ago.
"PepsiCo Foods North America’s core operating margin declined 280 basis points, reflecting the impact of affordability investments, the lapse of an asset sale gain in the prior year quarter, and higher advertising and marketing investments, partially offset by productivity savings and an increase in organic volume," the company said in its prepared remarks to investors.
PepsiCo Beverages North America volume decreased 2%, but Europe, the Middle East, and Africa volume advanced 4%.
Total convenience food volume increased 1%, and beverage volume advanced 3% in the quarter. Tariff refunds in the third quarter amounted to $178 million.
The company revised its organic revenue growth estimate to 3% from the previous range between 2% and 4%, and core earnings per share increased 2.5% from the previous estimate of the low end of the range between 5% and 7%.
The company reiterated its commitment to return $8.9 billion to shareholders in the fiscal year 2026.
Oct 8, 2026 -
Levi Strauss & Company decreased 3.2% to $18.89 after the denim retailer revised its annual outlook and released fiscal third quarter results.
Revenue increased 4% to $1.6 billion from $1.5 billion, net income fell to $168.1 million from $218.1 million, and diluted earnings per share eased to 43 cents from 55 cents a year ago.
Global direct-to-consumer revenues grew only 2% with flat comparable sales, falling short of internal targets due to soft traffic in the U.S. and Europe, whereas wholesale and international channels saw strong gains of 6% and 8% respectively.
The company's gross margin expanded by 450 basis points from a year ago to 66.2%, largely driven by approximately $80 million in one-time tariff refunds recorded during the quarter.
Management trimmed its full-year net revenue growth forecast to approximately 7%, down from the previous estimated range between 7% and 7.5%, while lifting full-year adjusted earnings per share guidance to a range of $1.54 to $1.56 from the previous estimate between $1.46 and $1.52.
Levi declared a 16-cent-per-share cash dividend to shareholders on record on October 21 and payable on November 4.
Oct 8, 2026 -
Worthington Steel decreased 1.3% to $37.45 after the metal processor released its results for the fiscal first quarter ending in August.
Revenue surged 212% to $2.7 billion from $872.9 million, operating income increased to $56.0 million from $48.3 million, and net income swung to a loss of $7.0 million from $36.8 million a year ago.
The latest quarter results reflected the company's recent business combination with a majority interest in Germany-based Klockner & Co.
Adjusted diluted earnings per share decreased to 57 cents from 77 cents a year ago.
Worthington Steel sales decreased to 921,234 tons from 928,866 tons and soared to 1.9 million tons after including the latest combination with Klockner.
The company completed the Klockner acquisition on June 3, at an implied enterprise value of $2.4 billion.
Oct 7, 2026 -
Constellation Brands decreased 6% to $108.70 despite the company reporting better-than-expected results for the fiscal second quarter due to concerns over weak underlying beer volume trends and a lowered operating margin outlook.
Revenue in the quarter ending in August increased to $2.8 billion from $2.65 billion, net income advanced to $565.8 million from $466.0 million, and diluted earnings per share rose to $3.32 from $2.65 a year ago.
The company repurchased $530 million of its own shares in the fiscal year-to-date to September and declared a cash dividend of $1.03 per Class A common stock.
Net sales in the beer business increased 5%; however, beer depletions fell 0.6%, pointing to slower consumer purchasing trends at grocery and liquor stores for flagship brands like Modelo Especial and Corona Extra. Growth in Pacifico and Victoria helped offset some of this weakness.
Net sales in the wine and spirit business advanced 17%, while operating income swung back into positive territory at $6.1 million compared to a heavy operating loss last year.
Oct 7, 2026 -
Micron Technology edged up 0.5% to $1,059.01 after the company reported better than expected results for the fiscal fourth quarter ending on September 3.
Revenue soared to $54.2 billion from $11.3 billion, net income surged to $37.7 billion from $3.2 billion, and diluted earnings per share advanced to $32.87 from $2.83 a year ago.
Data center SSD revenue surged more than 10 times year-over-year to nearly $10 billion, capitalizing on massive demand for AI infrastructure.
Management highlighted that immense demand for HBM, DRAM, and storage products is tightening memory supply, a constraint expected to persist through fiscal years 2027 and 2028.
Micron provided robust guidance for the first quarter of fiscal 2027, projecting revenue of $61.5 billion and GAAP earnings per share of $37.84, well ahead of consensus expectations.
Oct 1, 2026
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