Key Takeaways PEP's PBNA unit posts a 2% organic revenue growth in Q3 2025 on improving volumes and strength across brands.PEP saw gains from Pepsi Zero Sugar and Mountain Dew, with Baja Blast on pace to surpass $1B in retail sales.PBNA is expanding into protein beverages like Muscle Milk, while margins rebound as tariff pressures ease.PepsiCo, Inc.’s (PEP) Beverages North America (“PBNA”) business remains a central pillar of its long-term growth strategy. In the third quarter of 2025, the PBNA segment deli ...