PepsiCo, Inc. (NASDAQ:PEP) CAGNY 2023 Conference February 22, 2023 10:00 AM ET Company Participants Ramon Laguarta - Chairman and CEO Hugh Johnston - Vice Chairman and CFO Conference Call Participants Dara Mohsenian - Morgan Stanley Kevin Grundy - Jefferies Andrea Teixeira - JPMorgan Robert Ottenstein - Evercore ISI Bonnie Herzog - Goldman Sachs Unidentified Analyst Hi again. Now it gives me great honor and pleasure to introduce PepsiCo, one of the largest global consumer packaged goods companies with more ...

PepsiCo, Inc. (NASDAQ:PEP) Q4 2022 Earnings Conference Call February 9, 2023 8:15 AM ET Company Participants Ravi Pamnani - SVP, IR Ramon Laguarta - Chairman & CEO Hugh Johnston - Vice Chairman & CFO Conference Call Participants Dara Mohsenian - Morgan Stanley Lauren Lieberman - Barclays Andrea Teixeira - JPMorgan Bryan Spillane - Bank of America Bonnie Herzog - Goldman Sachs Peter Grom - UBS Kevin Grundy - Jefferies Vivien Azer - Cowen Robert Ottenstein - Evercore ISI Nik Modi - RBC Kaumil Gajrawala - Cred ...

Business Operations - PepsiCo operates through seven reportable segments, including Frito-Lay North America, Quaker Foods North America, and PepsiCo Beverages North America[18]. - The company has joint ventures with Unilever and Starbucks for ready-to-drink tea and coffee products, respectively[22]. - PepsiCo's products are sold in over 200 countries and territories, showcasing its extensive global reach[17]. - The company utilizes a distributed network of plants and distribution centers, with significant properties owned or leased across multiple regions, ensuring operational capacity[112]. - The company believes its properties are generally in good operating condition and suitable for current operations, supporting its manufacturing and distribution needs[112]. Financial Performance - Consolidated net revenue for 2022 was $86.392 billion, representing a 9% increase from $79.474 billion in 2021[174]. - Operating profit for 2022 was $11.512 billion, a 3% increase from $11.162 billion in 2021, with an operating margin of 13.3%, down from 14.0%[174][175]. - Net income attributable to PepsiCo for 2022 was $8.910 billion, a 17% increase from $7.618 billion in 2021, with diluted earnings per share rising to $6.42 from $5.49[178]. - The annual tax rate for 2022 was 16.1%, down from 21.8% in 2021[178]. - Free cash flow is utilized primarily for acquisitions, debt repayments, dividends, and share repurchases, highlighting its importance in financial strategy[213]. Market Challenges - The company experienced increased commodity, packaging, and input costs in 2022, influenced by factors such as the COVID-19 pandemic and supply chain disruptions[33]. - The ongoing conflict in Ukraine has resulted in suspended operations and increased costs for transportation, energy, and raw materials, impacting global business performance[66]. - Economic conditions such as high inflation and interest rate changes may lead to recessions, impacting the company's business performance[82]. - Labor market challenges, including wage inflation and turnover, could impact the ability to attract and retain a skilled workforce[73]. - Water scarcity poses risks to manufacturing operations, potentially leading to increased costs and operational disruptions[74]. Sustainability Initiatives - The company emphasizes sustainability in its packaging, integrating recyclability and supporting the use of recycled content[33]. - The company aims to reduce its environmental impact, including water use and packaging waste, as part of its sustainability goals[55]. - PepsiCo aims to achieve net-zero emissions by 2040 and become net water positive by 2030, with a goal to double the percentage of beverage servings delivered through reusable models from 10% to 20% by 2030[143]. - PepsiCo's packaging goals include cutting virgin plastic per serving and using more recycled content, potentially eliminating the need for over 200 billion plastic bottles by 2030[143]. - In 2022, PepsiCo elevated partnerships to scale regenerative agriculture across 2 million acres, including collaborations with Archer Daniels Midland Company and MIT[143]. Consumer Trends - Demand for products is influenced by consumer trends, with shifts towards e-commerce and health-conscious choices affecting sales[67]. - The retail landscape is evolving, with significant growth in e-commerce channels, necessitating strong relationships with both traditional and online retailers[75]. - The company is focusing on evolving its product portfolio to include healthier options, reducing added sugars and sodium, and incorporating more diverse ingredients[143]. - The company is adapting to the retail landscape's shift towards e-commerce and digital operations, aiming to enhance its direct-to-consumer business[158]. Regulatory and Compliance Issues - The company is subject to numerous laws and regulations globally, including food safety and environmental protection laws[50]. - The company faces significant costs and challenges in complying with evolving personal data protection and privacy laws across various jurisdictions, which could adversely affect its business[101]. - The company is subject to numerous laws and regulations that could result in higher compliance costs and capital expenditures, particularly in relation to environmental, social, and governance matters[106]. - Brazil and Canada enacted warning labeling requirements in 2022 for pre-packaged food or beverage products high in sugar, sodium, or saturated fat, potentially leading to reduced consumption and negative publicity[99]. - Italy enacted a flat tax on all beverages, including zero-calorie beverages, effective January 1, 2023, at a rate of EUR 0.10 (0.11 U.S. dollars) per liter, which could increase costs and reduce consumption[98]. Shareholder Returns - The Board declared a quarterly dividend of $1.15 per share payable on March 31, 2023, with a 10.0% increase in annualized dividend to $5.06 per share effective June 2023[132]. - The company expects to return approximately $7.7 billion to shareholders in 2023, comprising dividends of approximately $6.7 billion and share repurchases of approximately $1.0 billion[132]. - The company has paid consecutive quarterly cash dividends since 1965, with future dividends subject to Board discretion[132]. - The total number of shares repurchased in the fourth quarter of 2022 was 1.8 million at an average price of $174.04 per share[134]. - The company has a $10 billion repurchase program authorized by the Board, which commenced on February 11, 2022, and will expire on February 28, 2026[136]. Workforce and Training - The company employs approximately 315,000 people worldwide as of December 31, 2022, with about 132,000 in the United States[57]. - As of December 31, 2022, approximately 27% of the global workforce was female, and 44% of management roles were held by women[60]. - In 2022, PepsiCo employees completed over 1 million hours of training[61]. - PepsiCo's global workforce includes approximately 315,000 employees, who are encouraged to engage in community impact through the One Smile at a Time program[143]. Risks and Uncertainties - The company faces risks related to product quality and safety, including potential recalls that could damage reputation and consumer confidence[70]. - Cyber incidents and disruptions to information systems pose significant risks, potentially leading to transaction errors and lost revenues[84]. - The company faces risks in developing and emerging markets, including economic, political, and social conditions that could adversely affect growth[81]. - Fluctuations in exchange rates can adversely impact financial performance due to global operations and currency transactions[96]. - A downgrade in credit ratings could increase borrowing costs and impair access to capital markets, affecting financial performance[97].

PepsiCo, Inc. (NASDAQ:PEP) Q3 2022 Results Conference Call October 12, 2022 8:15 AM ET Company Participants Ravi Pamnani - SVP, IR Ramon Laguarta - Chairman & CEO Hugh Johnston - Vice Chairman & CFO Conference Call Participants Andrew Teixeira - JPMorgan Lauren Lieberman - Barclays Dara Mohsenian - Morgan Stanley Bonnie Herzog - Goldman Sachs Kevin Grundy - Jefferies Stephen Powers - Deutsche Bank Robert Ottenstein - Evercore ISI Kaumil Gajrawala - Credit Suisse Chris Carey - Wells Fargo Peter Grom - UBS Op ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 3, 2022 (36 weeks) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-1183 PepsiCo, Inc. (Exact Name of Registrant as Specified in its Charter) North Carolina 13-1584302 (State or Other ...

PepsiCo, Inc. (NASDAQ:PEP) Q2 2022 Earnings Conference Call July 12, 2022 8:15 AM ET Company Participants Ravi Pamnani - SVP, IR Hugh Johnston - Vice Chairman & CFO Ramon Laguarta - Chairman & CEO Conference Call Participants Lauren Lieberman - Barclays Dara Mohsenian - Morgan Stanley Andrea Teixeira - JPMorgan Bryan Spillane - Bank of America Bonnie Herzog - Goldman Sachs Nik Modi - RBC Capital Markets Kevin Grundy - Jefferies Vivien Azer - Cowen and Company Stephen Powers - Deutsche Bank Kaumil Gajrawala ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 11, 2022 (24 weeks) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-1183 PepsiCo, Inc. (Exact Name of Registrant as Specified in its Charter) North Carolina 13-1584302 (State or Other Juri ...

PepsiCo, Inc. (NASDAQ:PEP) Q1 2022 Earnings Conference Call April 26, 2022 8:15 AM ET Company Participants Ravi Pamnani - SVP, IR Hugh Johnston - Vice Chairman, Executive VP & CFO Ramon Laguarta - Chairman & CEO Conference Call Participants Bryan Spillane - Bank of America Merrill Lynch Dara Mohsenian - Morgan Stanley Lauren Lieberman - Barclays Bank Bonnie Herzog - Goldman Sachs Group Andrea Teixeira - JPMorgan Chase & Co. Laurent Grandet - Guggenheim Securities Vivien Azer - Cowen and Company Kaumil Gajra ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 19, 2022 (12 weeks) OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 1-1183 PepsiCo, Inc. (Exact Name of Registrant as Specified in its Charter) North Carolina 13-1584302 (State or Other Jur ...

PepsiCo, Inc. (NASDAQ:PEP) Q4 2021 Earnings Conference Call February 10, 2022 8:15 AM ET Company Participants Ravi Pamnani - Senior Vice President, Investor Relations Ramon Laguarta - Chairman & Chief Executive Officer. Hugh Johnston - Vice Chairman & Chief Financial Officer Conference Call Participants Dara Mohsenian - Morgan Stanley Bonnie Herzog - Goldman Sachs Lauren Lieberman - Barclays Andrea Teixeira - JPMorgan Bryan Spillane - Bank of America Laurent Grandet - Guggenheim Vivien Azer - Cowen Kevin G ...