Food and drink manufacturer PepsiCo recorded a strong performance in the third quarter of 2025, with net sales for the twelve weeks to September increasing by 2.6% to reach around £18bn.

However, the overall volumes of convenient foods decreased by 1%, while beverage volumes went up by 1.5% in Europe, the Middle East and Africa. Net income for the period fell from the same period last year to around £1.96bn.

Moving forward, for the full-year financial results, the business expects a low single-digit rise in organic revenue and financial headwinds of around 0.5% to negatively affect the total net revenue.

PepsiCo’s chairman and chief executive Ramon Laguarta said: “Our reported net revenue growth accelerated and reflects the resilience of our international business, improved momentum within North America Beverages and the benefits of our portfolio reshaping actions.

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“As we look ahead to the balance of this year and beyond, our top priorities are to accelerate growth and aggressively optimise our cost structure.

“To accomplish this, we are introducing a strong pipeline of innovation to accelerate portfolio transformation, continuously sharpening our price pack architecture to provide good value to consumers, and right-sizing our entire cost base to help fund our activities.”

The FMCG brand also announced a new chief financial officer, Steve Schmitt, effective on 10 November, who joins the team after serving in multiple executive roles at Walmart.

“Steve’s experience working with complex supply chains, adapting to the dynamic retail landscape and omnichannel consumers, and delivering operational excellence on a large scale will be impactful at PepsiCo,” said Laguarta.

“He will play a crucial role as we accelerate growth, optimise our cost structure, and create greater value for our shareholders.”