This is a fundamental analysis of Pepsico (PEP) stock. It focuses on the Q2 earnings and dividend safety. Earnings per share (EPS) came in at $2.12, beating expectations by 4.43%. Revenue also beat estimates at $22.73B. Free cash flow is slightly underperforming for the first half of the year, not at the best level, but still he believes that dividend can not be cut as there is a sequential improvement from PepsiCo and great brands and competitive advantages that confirm will be here 100 years from now. CEO expects a low single-digit increase in organic revenue and constant EPS year over year. He also stated there has been sequential improvement in snacking business, and improved competiveness across key segments. A 4.98% dividend increase was also paid. The speaker expects dividend growth of 5% going forward but the bleeding might be over.