Chairman & Chief Executive Officer, Pepsico
Search every verified Ramon Laguarta interview, podcast appearance, and on-the-record quote — each transcript cross-checked by AI and human review to confirm speaker identity. Ramon Laguarta said on PepsiCo’s Q2 2026 earnings call that the company’s U.S. volume performance in the quarter was below expectations, attributing this to a consumer environment that he described as “worse than what we had anticipated and driven mainly by gas prices.” He noted that execution of price investments in some customers experienced delays for commercial reasons, but stated that those issues have been resolved and that the company expects an acceleration in the second half of the year. Laguarta said the company is “optimizing the return on those investments” and that the strategic logic of the investments remains sound. He also stated that PepsiCo is “not starving the international business to fund the US business,” and that international operations have sufficient capital and talent to continue growing. In a separate interview, Laguarta said the company is taking steps to grow faster in the U.S., including affordability investments, portfolio transformation, and away-from-home growth. He said consumers are making trade-offs between purchases and gas prices, which has impacted convenience store sales. Earlier in the year, Laguarta highlighted that PepsiCo’s food business added 300 million new occasions in Q1 2026 compared to the prior year, and that the company’s productivity efforts and supply chain redundancy have provided a competitive advantage.
“The consumer is worse than what we had anticipated and driven mainly by gas prices. Second, the execution of the price investment in some customers have had some delays because of multiple commercial reasons. So we'll see an acceleration in the second half. The consumer reaction to the investments is pretty much along...”
“We've been investing in international for many years, and one of the things we're very careful about is make sure we don't starve international of the capital or of the investments to continue to grow that business, because as you said, if you think about the company 5-10 years from now, that will be the biggest source...”
“We accomplished what we wanted to accomplish, which was to get volume back into our categories in our core brands. And that was a not an obvious thing to do. And we managed to do this in the first half of the year. Now, we're optimizing the return on those investments.”
“We are not starving the international business to fund the US business. The international business has enough capital, enough, enough talent investment to continue to be a great source of growth for us and a compounder at the levels that you're seeing for the last five six years.”
“We need to optimize investment to drive affordability, and that's going to accelerate our growth in the U.S.”
“In the U.S. we saw a consumer that is more price sensitive. Clearly, the increase in gas prices has impacted this in certain channels especially in convenience stores.”
“The consumer is worse than what we had anticipated and driven mainly by gas prices. Second, the execution of the price investment in some customers have had some delays because of multiple commercial reasons that has been solved. So we'll see an acceleration in the second half.”
“We are not starving the international business to fund the US business. The international business has enough capital, enough talent, investment to continue to be a great source of growth for us and a compounder at the levels that you're seeing for the last five six years.”
“The scale of PepsiCo and the resilience we've built over the last few years, especially after COVID, and our supply chain, we built a lot of redundancy in terms of our key materials and multiple supply points for our key materials. So, that's giving us an advantage.”
“We haven't seen an impact on demand in the last, you know, since the war started. We have very strong commercial programs. Actually, I would say in some markets we're seeing a benefit because we have better supply chain than some of our competitors especially in the food business.”
“If you think about 2% volume growth, that 4% unit growth, we have increased 300 million occasions in Q1 in the food business, 300 million new occasions to our business compared to Q1 of last year. The away-from-home business is growing three times the average of the company. The permissible portfolio is growing double...”
“I don't know if our competitors have the same productivity story that we've been focused on, reducing cost per unit and overall cost for the food business and all the North America business and across the company, actually. And that has been a very successful strategy for us. We still have a lot of non-executed drivers...”
“We're testing and learning the idea of can we create more value both growth and cost by integrating more of the supply chain in the US and we're live in some tests in Texas and we're going to deploy that in some other states. That is another vector of cost transformation going forward.”
“We're playing offense here. We're excited about the initiative and the benefits that will come both in volume and sales growth. And third, from an overall perspective, this investment is manageable for the business. It's included in our guidance and our productivity progress is going to help fund the initiatives that w...”
“We expect our international business to continue to perform at similar levels to last year, mid single digit. We're seeing good performance in some of our larger markets. Mexico improving in the Q4 and then also having a good start. China as well, South Africa as well. So but but you know you should think about mid-sin...”
PepsiCo Q2 2026 Earnings Call | Revenue Tops Views at $24.2B with Net Income Spiking 134% to $3B Twitter - https://x.com/i101yt If you find our work useful, please support us by purchasing a Super Thanks— it truly helps us a lot. #earningscall #StockMarketNews #conferenceCall Earnings Call | Earnings Conference Call | Earnings concall | concall | quarterly results | Stock News | Full Year results | Fiscal Year results | investment news | stock latest news | Annual Meeting of Shareholders | Annual Meeting of Unitholders | Special and Annual Meeting of Shareholders | AGM | Annual General Me…
PepsiCo Inc (PEP) — Q2 FY26 Earnings Call Live coverage with Benzinga. Q2 FY26 Results EPS: $2.20 (est. $2.21) — inline ...
PepsiCo CEO Ramon Laguarta discusses efforts to grow the company faster in the U.S. and consumer prices on 'The Claman ...
07/09/2026 Q&A: 01:49 PepsiCo, Inc. engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through six segments: PepsiCo Foods North America; PepsiCo Beverages North America; International Beverages Franchise; Europe, Middle East and Africa; Latin America Foods; and Asia Pacific Foods. It offers cereals, chips, dips, granola bars, oatmeal, pasta, rice, and syrups and mixes; refrigerated dips and spreads; beverage concentrates, fountain syrups, and finished goods; and ready-to-drink tea and coffee products. The com…
Sign in to search the full transcript archive, filter by topic, and access every quote from Ramon Laguarta.
The summary and quote tags on this profile are produced with AI assistance from verified, first-person interview transcripts, then checked by our team to confirm the speaker's identity and the accuracy of every quote. See how we verify →