PepsiCo expects one point of EPS benefit from tariff refund claims in Q3

Says expects to have a higher tax rate year over year than what the company has seen so far this year. Says global organic volume has increased at the highest rate since 2022. Says continues to expect the international business to remain strong. Says North America results were tempered in the quarter as U.S. food and beverage category performance moderated with consumer budgets tightening due to rising inflationary pressures. Says restaging Gatorade products with improved/simplified visuals on packages, sharper communication of its hydration benefits and product superiority attributes while gradually removing artificial colors within the portfolio. Says international performance was robust during the second quarter. Says expecting higher input cost inflation in the second half versus the first half of this year. Says expects the North America business to gradually improve, although at a more moderate pace than the company thought coming into Q2, as Q2 was less than what the company expected. Says expects some more pressure on the business from a commodity standpoint, but also expects refund claims for tariffs paid last year to help offset some of the commodity pressures that the.