PepsiCo and Constellation Brands Headline Food & Beverage Earnings Week as Consumers Stay Cautious

Two of the biggest names in food and drink are due to report quarterly earnings in the coming days, giving investors a fresh read on how consumers are spending on groceries and beverages as the fourth quarter begins. Constellation Brands is best known for its beer portfolio, while PepsiCo spans snacks and beverages, so their commentary offers a useful window into different corners of the market.

According to Schwab's weekly market update, Constellation Brands (STZ) is expected to report on October 6, followed by PepsiCo (PEP) on October 8. Neither company has released these results yet, so figures and outlook commentary will only be known once the reports are published.

The reports arrive after a weak U.S. jobs release. September payrolls rose by just 29,000, below consensus, while the two previous reports were revised downward and unemployment ticked up to 4.2%, Schwab said. Treasury yields dipped on the news. Schwab also noted that the dollar has strengthened to a level it has not traded above since April 2025, which can make the products of U.S. multinational companies more expensive abroad. Weaker hiring can weigh on discretionary spending, though groceries tend to be more resilient than dining out.

Food and beverage companies have been navigating careful shoppers for months. Circana earlier lowered its 2026 growth forecast for retail food and beverage sales to 2% to 4%, saying consumers have pulled back and are seeking more value. Nestlé, the world's largest food company, has said growth in many of its categories is likely to slow to around 1% to 2% this year, even as lower costs for inputs such as coffee and cocoa provide some relief.

Investors and industry watchers are likely to focus on several themes:

Elsewhere in the sector, dsm-firmenich announced on October 1 that it has completed its €540 million share repurchase program. Industry events are also on the horizon, including the Vertical Farming World Congress in London from October 5 to 7 and the CBB 2026 brewing and beverage technology exhibition in Shanghai from October 12 to 15. Meanwhile, Beverage Industry has highlighted eight new beverage launches from September, showing that product innovation continues despite the cautious mood.

This article is for informational purposes only and is not investment advice. Earnings dates are as reported by Schwab and may change.