PepsiCo, Inc. (PEP) Q4 2022 Earnings Call Transcript

PepsiCo, Inc. (NASDAQ:PEP) Q4 2022 Earnings Conference Call February 9, 2023 8:15 AM ET

Company Participants

Ravi Pamnani - SVP, IR

Ramon Laguarta - Chairman & CEO

Hugh Johnston - Vice Chairman & CFO

Conference Call Participants

Dara Mohsenian - Morgan Stanley

Lauren Lieberman - Barclays

Andrea Teixeira - JPMorgan

Bryan Spillane - Bank of America

Bonnie Herzog - Goldman Sachs

Peter Grom - UBS

Kevin Grundy - Jefferies

Vivien Azer - Cowen

Robert Ottenstein - Evercore ISI

Nik Modi - RBC

Kaumil Gajrawala - Credit Suisse

Christopher Carey - Wells Fargo

Gerald Pascarelli - Wedbush

Operator

Good morning, and welcome to PepsiCo's 2022 Fourth Quarter Earnings Question-and-Answer session. [Operator Instructions] Today's call is being recorded and will be archived at www.pepsico.com.

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 and good morning everyone. I hope everyone has had a chance this morning to review our press release and prepared remarks 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 and plans and 2023 guidance.

Forward-looking statements inherently involve risks and uncertainties and only reflect our view as of today, February 09, 2023, and we are under no obligation to update. As a reminder, PepsiCo’s fourth quarter 2022 includes 17 weeks of results. And our fiscal 2022 year includes 53 weeks of results. When discussing our results, we refer to non-GAAP measures, which exclude certain items from reported results.

Please refer to our Q4 2022 earnings release and 2022 Form 10-K available on pepsico.com for definitions and reconciliations of non-GAAP measures and additional information regarding our results, including a discussion of factors that could cause actual results to materially differ from forward-looking statements.

Joining me today are PepsiCo's Chairman and CEO, Ramon Laguarta; and PepsiCo's Vice Chairman and CFO, Hugh Johnston. We ask that you please limit yourself to one question.

And with that, I will turn it over to the operator for the first question.

Question-and-Answer Session

Operator

[Operator Instructions] Our first question comes from Dara Mohsenian with Morgan Stanley. Your line is open.

Dara Mohsenian

Hey good morning guys.

Ramon Laguarta

Good morning, Dara.

Dara Mohsenian

So I just want to focus on the 2023 topline growth outlook after another very strong quarter here in Q4. Can you just give us a quick update on the business so far in 2023, given there are some concerns around macros and the consumer? Are you seeing momentum continue or any signs of incremental consumer weakness?