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Home » PepsiCo’s (PEP) CEO Indra Nooyi on Q2 2014 Results – Earnings Call Transcript

PepsiCo’s (PEP) CEO Indra Nooyi on Q2 2014 Results – Earnings Call Transcript

Source: Seeking Alpha


PepsiCo, Inc. (NYSE:PEP)

Q2 2014 Earnings Conference Call

July 23, 2014 08:00 AM ET


Jamie Caulfield – SVP of IR

Indra Nooyi – Chairman and CEO

Hugh Johnston – CFO


John Faucher – JPMorgan

Bryan Spillane – Bank of America

Ali Dibadj – Bernstein

Bill Schmitz – Deutsche bank

Dara Mohsenian – Morgan Stanley

Steve Powers – UBS

Judy Hong – Goldman Sachs

Amit Sharma – BMO Capital Markets

Mark Swartzberg – Stifel Nicolaus


Good morning and welcome to PepsiCo’s Second Quarter 2014 Earnings Conference Call. (Operator Instructions) Today’s call is being recorded and will be archived at It is now my pleasure to introduce Mr. Jamie Caulfield, Senior Vice President of Investor Relations. Mr. Caulfield, you may begin.

Jamie Caulfield – SVP of IR

Thank you, operator. With me today are Indra Nooyi, PepsiCo’s Chairman and CEO; and Hugh Johnston, PepsiCo’s CFO. We’ll lead off today’s call with a review of our second quarter 2014 performance and outlook, and then we’ll move on to Q&A.

We have kept our comments brief this morning and intend to conclude the call by 08:45, to be respectful of your time during a busy earnings week, and we’ll do our best to get to as many of your questions as we can. Before we begin, please take note of our cautionary statement.

This conference call includes forward-looking statements, including statements regarding 2014 guidance and our long-term targets based on currently available information. Forward-looking statements inherently involve risks and uncertainties that could cause our actual results to differ materially from those predicted in such forward-looking statements. Statements made on this conference call should be considered together with cautionary statements and other information contained in today’s earnings release and in our most recent periodic reports filed with the SEC.

Unless otherwise indicated all references to EPS and operating profit growth are on a core basis. In addition, references to organic revenue results in this call exclude the impact of acquisitions and divestitures, structural changes and foreign exchange translation. To find disclosures and reconciliations of non-GAAP measures that we use when discussing PepsiCo’s financial results, you should refer to the glossary and other attachments to this morning’s earnings release and to the Investors section of PepsiCo’s website under the Events & Presentations tab.

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