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How to read a company earnings release: Practical guide using PepsiCo Q3 2025

Decode key financial reporting concepts: GAAP vs non-GAAP, volumes, pricing, margins, cash flow, and guidance to become a smarter investor

Understanding a company’s earnings release is crucial for any investor. This document contains essential insights on financial health and business outlook. In this guide, we break down the most important elements to look for, using PepsiCo’s third quarter 2025 release as a concrete example.