PepsiCo, Inc. (PEP) CEO Ramon Laguarta on Q1 2020 Results - Earnings Call Transcript

Apr. 28, 2020 12:41 PM ETPepsiCo, Inc. (PEP)
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PepsiCo, Inc. (NASDAQ:PEP) Q1 2020 Earnings Conference Call April 28, 2020 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

Bryan Spillane - Bank of America Merrill Lynch

Bonnie Herzog - Goldman Sachs

Nik Modi - RBC Capital Markets

Andrea Teixeira - JPMorgan

Kaumil Gajrawala - Credit Suisse

Lauren Lieberman - Barclays

Rob Ottenstein - Evercore

Vivien Azer - Cowen

Steve Powers - Deutsche Bank

Laurent Grandet - Guggenheim

Sean King - UBS

Bill Chappell - SunTrust


Good morning, and welcome to PepsiCo’s First Quarter Earnings Question-and-Answer Session. Your lines have been placed on listen-only until it is your turn to ask a question. [Operator Instructions] Today’s call is being recorded and will be archived at

It is now my pleasure to introduce, Mr. Ravi Pamnani, Senior Vice President of Investor Relations. Mr. Pamnani, you may begin.

Ravi Pamnani

Thank you operator. I hope everyone has had the chance this morning to read our press release and listen to our prepared comments, both of which are available on our website.

Before we begin, please take note of our cautionary statement. We may make forward-looking statements on today’s call, including about our business plans and 2020 guidance and the potential impact of the COVID-19 pandemic on our business. Forward-looking statements inherently involve risks and uncertainties and only reflect our view as of today, and we are under no obligation to update. When discussing our results, we refer to non-GAAP measures, which exclude certain items from reported results. Please refer to today’s earnings release and 10-Q available on for definitions and reconciliations of non-GAAP measures and additional information regarding our results, including a discussion of factors that could cause actual

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