Updates

** Shares of PepsiCo PEP.O fell as much as 5% to $134.69

** Stock set for its worst day since April 2025, if losses hold

** The snacks and soda giant reaffirms annual forecast while warning of rising commodity costs in H2

** Maintains fiscal 2026 organic revenue growth forecast at 2% to 4%; sees core EPS at constant currency rising 4% to 6%

** "Results were tempered in the quarter as U.S. food and beverage category performance moderated with consumer budgets tightening due to rising inflationary pressures," said CEO Ramon Laguarta

** Q2 North America food sales down 2% on lower effective net pricing - CFO Steve Schmitt

** PEP posts Q2 core EPS of $2.20; analysts on average expected $2.21 - data compiled by LSEG

** Q2 revenue rose 6.4% to $24.18 bln versus est. $23.95 bln

** Shares of rival Coca Cola KO.N also fell about 2%

** As of last close, PEP stock down ~1% YTD