Spanish businessman; CEO and chairman of PepsiCo since 2018
PepsiCo has reported a mixed second quarter, with North American volumes flat or down and international markets driving overall growth. Revenue rose 6.4% to $24.18 billion, but North American beverage volumes fell 4% and per-share earnings narrowly missed expectations. The company has signaled a slower but steady recovery in North America as inflation pressures persist.
Retailers face pressure as volume declines outpace inflation, prompting price cuts and promotions to spur unit growth. Bain data shows grocery units fell 1.8% year over year in June, while prices remain elevated. Major chains push value-focused strategies amid softer consumer demand.
PepsiCo has announced price hikes for certain snacks and beverages in the single-digit range to offset rising costs in fuel, aluminum, and agricultural inputs. Despite earlier price cuts ahead of the Super Bowl, third-quarter results show weaker North American soda sales and a shift toward international growth, with the company guiding modest earnings growth for the year.