PepsiCo (PEP) is set to announce its second-quarter 2026 earnings before market open on July 9, with analysts projecting earnings of approximately $2.19 per share and revenue of $23.87 billion, marking year-over-year increases of 3% and 5%, respectively. Investors will closely monitor whether Pepsi’s turnaround efforts in North America are making progress after several quarters of soft snack demand.
In contrast, Coca-Cola (KO) will report its Q2 results on July 28, with a strong record of surpassing earnings expectations for 13 consecutive quarters. Currently, Coca-Cola holds an average EPS surprise of 4.47%, while Pepsi’s recent estimates suggest it might miss consensus expectations despite outperforming in prior quarters.
Both companies exhibit attractive valuations compared to the broader market, with Pepsi at 20X forward earnings and a 4.13% annual dividend yield, while Coca-Cola operates at 25X and a 2.56% yield. Upcoming earnings calls are expected to address critical topics like North American snack volume trends and international sales strength, impacting investor sentiment significantly.
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