PepsiCo Reports Beverage Volume Declines, Snack Gains in Q2; CEO: ‘It All Depends on the Price of Gas’
The food and beverage giant rode gains outside the U.S. that pushed organic revenue up 2.4% in the quarter, with net revenue up 6.4%. But PepsiCo chairman and CEO Ramon Laguarta acknowledged that the ongoing conflict in Iran and its subsequent effects on global gas prices have accelerated a change in consumer behavior.