Robert Moskow

Answer

Chairman and CEO Ramon Laguarta described interactions with Elliott as constructive and collaborative, noting alignment on PepsiCo being undervalued and the need to improve valuation. He stated that most of Elliott's ideas are already part of PepsiCo's Strategy 2030 (portfolio transformation, cost reduction, etc.), and the company is acting with urgency. He mentioned areas for further education and conversation, expressing optimism for positive change and value creation.

Ask Fintool Equity Research AI

Answer

Chairman and CEO Ramon Laguarta described interactions with Elliott Investment Management as constructive and collaborative, noting alignment on PepsiCo being undervalued and opportunities to improve valuation. He stated that most of Elliott's ideas are already included in PepsiCo's Strategy 2030, with the company acting with urgency on portfolio transformation, simplification, and cost reduction. Laguarta acknowledged a few areas requiring further education and conversation, expressing optimism that ongoing dialogues will drive positive change and value creation for the long term. He did not directly address the Frito-Lay margin target but implied that cost reduction and portfolio transformation are already underway.

Ask Fintool Equity Research AI

Answer

Chairman and CEO Ramon Laguarta confirmed the strategic principle remains the same: pricing must reflect the value provided. In areas with less consumer differentiation, revenue management must be more intentional about value, while more differentiated products can capture more value. He stated that the organization has become more nuanced and intelligent in understanding its value drivers and how pricing should reflect them for particular occasions and brands.

Ask Fintool Equity Research AI

Answer

CEO Ramon Laguarta confirmed a sense of urgency to expand in protein and functional beverages via brands like Muscle Milk, Gatorade, and Propel. Regarding GLP-1s, he stated that while they see 'very little direct impact' currently, they recognize a broader consumer trend toward health and wellness. This is being addressed through portion control, portfolio renovation (lower sodium/fat), and strategic M&A like the Sabra acquisition.

Ask Fintool Equity Research AI

Answer

Chairman and CEO Ramon Laguarta confirmed that incremental investments for Tostitos are planned for the fall season, including brand events and value offerings like bonus packs. Regarding 'permissible' brands, he explained that affordability is impacting all consumer segments and that the portfolio is democratizing beyond just premium. He stated the company is focused on adding distribution and targeted advertising to grow these platforms.

Ask Fintool Equity Research AI

Answer

Brendan Foley, Chairman, President, and CEO, stated that McCormick balances both volume-led growth and pricing, taking a long-term view. Their goal is to maintain volume-led momentum, meet consumer needs for value and health/wellness, and offset discrete new costs while sustaining healthy volume-driven growth, with the same ambition for 2026. He clarified that McCormick views tariffs as a discrete, one-time impact that will remain in the cost structure. He added that they collaborate with customers on real input costs and continued volume growth, finding mutual alignment.

Ask Fintool Equity Research AI

Answer

Chairman, President, and CEO Brendan Foley emphasized McCormick's long-term view and consistent goal of volume-led momentum, balancing this with the need to offset discrete new costs. He stated the ambition is to maintain positive volume growth, with specific levels to be shared in January. He clarified that McCormick views tariffs as a discrete, one-time impact that will likely stay in the cost structure, and customer conversations are collaborative, focusing on both affordability and cost offsets.

Ask Fintool Equity Research AI

Answer

Chairman, President & CEO Brendan Foley stated there is 'no trade-off' on quality, as the company's sourcing organization procures ingredients that meet its industry-leading standards. EVP & CFO Marcos Gabriel added that the commodity pressure stems from expected cost decreases not materializing. He explained that the company is using SG&A savings to mitigate this impact to protect its strong volume momentum by avoiding broader price increases.

Ask Fintool Equity Research AI

Answer

Chairman, President and CEO Brendan Foley responded that Flavor Solutions was slightly stronger than expected due to QSR performance, but he viewed the Consumer segment's volume as quite strong and a continuation of Q4 momentum. He characterized the overall results as 'roughly in line' with expectations. He also confirmed that the incremental recipe mix promotion was a 'financially smart' decision, implying it was profitable and strategically beneficial.

Ask Fintool Equity Research AI

Answer

CEO Brendan Foley clarified the low end of the guidance prudently factors in the risk from China's market, which has underperformed expectations in the past. CFO Marcos Gabriel added that the Q4 operating income was in line with their internal plans, as it included an expected shift of technology and R&D expenses from Q3 into Q4, which increased SG&A for the quarter.

Ask Fintool Equity Research AI

Answer

President and CEO Brendan Foley indicated the guidance raise to the high end of the range reflects the tax and FX benefits. EVP and CFO Mike Smith noted they discuss brand spend in terms of halves, not quarters, but confirmed a ramp in the second half. Regarding long-term pricing, Foley and Smith emphasized that pricing remains a key lever in their revenue management toolbox to address costs, while incoming CFO Marcos Gabriel highlighted the holistic approach of using CCI savings to fund investments first.

Ask Fintool Equity Research AI

Answer

CEO Brendan Foley asserted there is 'no trade-off' on quality, which remains a top priority. CFO Marcos Gabriel added that their sourcing organization achieves both cost and quality. He explained that expected cost relief from supply/demand dynamics did not materialize, and SG&A savings are being used as the primary mitigation lever to protect operating profit without broad pricing actions that could harm volume momentum.

Ask Fintool Equity Research AI

Answer

Dana McNabb, Group President of North America Retail and North America Pet, explained that while volume improved in top ten categories, total volume was impacted by declines in flour and desserts, which over-index on pounds. She noted positive volume responses to price investments in refrigerated dough, fruit snacks, and salty snacks. Jeff Siemon, VP, Investor Relations, and Corporate Finance, added that a 4% shipment timing headwind in Pet also weighed on total company pounds.

Ask Fintool Equity Research AI

Answer

Dana McNabb, Group President of North America Retail and North America Pet, explained that while top ten categories saw volume improvement, total volume was impacted by declines in flour and desserts, which over-index on pounds. She highlighted positive volume responses to price investments in refrigerated dough, fruit snacks, and snack bars, noting ongoing work in Totino’s and cereal. Jeff Siemon, VP of Investor Relations and Corporate Finance, added that a shipment timing headwind in Pet also weighed on total company pounds.

Ask Fintool Equity Research AI

Answer

Chairman & CEO Jeffrey Harmening deferred to Group President Dana McNabb, who explained that while top 10 categories improved, total volume was impacted by declines in flour and desserts, which over-indexed on pounds. She highlighted encouraging volume responses where investments were made. VP - IR & Treasurer Jeff Siemon added that a four-point shipment timing headwind in Pet also weighed on total company pounds.

Ask Fintool Equity Research AI

Answer

CEO Jeffrey Harmening stated that while a mix of price and volume is needed long-term, the current environment requires leaning into volume. Regarding fresh pet, he and Group President Dana McNabb noted the category is now twice the size it was during the initial test, and the long-term humanization trend supports a path for the segment to grow from $3 billion to a projected $10 billion in ten years.

Ask Fintool Equity Research AI

Answer

Chairman & CEO Jeffrey Harmening stated that while the long-term growth algorithm needs both volume and price, the current environment requires leaning into volume growth. On fresh pet, he noted the category is now twice the size it was a few years ago, making the addressable market larger, and that double-digit growth is still very strong. Group President Dana McNabb added that the segment is projected to grow from $3 billion to $10 billion in ten years.

Ask Fintool Equity Research AI

Answer

CEO Mark Smucker clarified that the SKU rationalization did not impact Q1 volume, with the process expected to conclude in Q2. He explained that the new dedicated sales force is designed to enhance focus and execution at the store level. Smucker also highlighted positive signs in the segment, such as improving convenience channel traffic and strong growth in the donut brand.

Ask Fintool Equity Research AI

Answer

CEO & Chair of the Board Mark Smucker attributed coffee's strength to the affordability of at-home coffee and the performance of brands like Café Bustelo. CFO Tucker Marshall explained the trade accrual issue in Sweet Baked Snacks was related to the year-end true-up process and the integration onto a new combined system post-acquisition.

Ask Fintool Equity Research AI

Answer

CFO Tucker Marshall declined to provide a divisional profit outlook for FY'26 but provided color on synergy timing, noting about $70 million of the $100 million run-rate objective would be achieved by year-end. He attributed the implied Q4 profit decline to the highest coffee cost basket of the year, continued investments in frozen handhelds and spreads, and the sales call-down in Sweet Baked Snacks.

Ask Fintool Equity Research AI

Answer

CFO Tucker Marshall declined to provide a divisional FY26 forecast but clarified that stranded overheads impact the total company and not all Hostess synergies flow to the segment. For the Q4 profit decline, Marshall attributed it to three main factors: the coffee segment facing its highest cost basket of the year, continued investments in frozen handhelds and spreads, and the ongoing sales pressure in Sweet Baked Snacks.

Ask Fintool Equity Research AI

Answer

CEO Mark Smucker identified a lack of sufficient in-store display as a key execution weakness, which the company will address by ramping up efforts across channels. He expressed confidence that snacking trends, including indulgent snacking, remain strong and that the Hostess brand can meet consumer needs through various innovations like portion control, regardless of the external messaging environment.

Ask Fintool Equity Research AI

Answer

CEO Mark Smucker identified a need for better in-store display execution as a key area for improvement, noting that the entire convenience channel has seen some softness. Regarding the marketing environment, Smucker expressed confidence that snacking trends, including indulgent snacking, remain strong as consumers continue to seek rewards. He stated the company's focus is on connecting the brand with consumer needs, including different portion sizes and value offerings.

Ask Fintool Equity Research AI

Answer

CEO Russell Diez-Canseco expressed comfort with current pricing, stating the brand's strength allows it to resonate beyond being a commodity. CFO Thilo Wrede clarified that pricing was taken to protect gross margin from anticipated costs, including tariffs. If tariffs are less impactful than expected, it could create flexibility to increase promotional spending beyond current plans.

Ask Fintool Equity Research AI

Answer

President and CEO Russell Diez-Canseco explained that the price increase was primarily to protect gross margins and ensure the company meets its guidance, not to match retailer pricing, which Vital Farms doesn't control. He added that the egg category is still not fully servicing demand and that Vital Farms' volumes are increasing as planned, with hopes for a more normalized market in the second half of the year.

Ask Fintool Equity Research AI

Answer

President and CEO Russell Diez-Canseco explained that the price increase is primarily to protect gross margins and support long-term growth, not to mirror retailer pricing strategies, which Vital Farms does not control. He added that the egg category is still facing supply constraints and has not fully returned to normal, though Vital Farms' own volumes are increasing as planned.

Ask Fintool Equity Research AI

Answer

CFO Thilo Wrede clarified that reported price/mix was about 7%, attributing the discrepancy with scanner data to retailer-led price increases. President and CEO Russell Diez-Canseco stated that list price increases are not planned to be a meaningful growth driver in 2025. CMO and GM, Butter Kathryn McKeon noted that brand loyalty remains strong, with consumers often choosing other breakfast items over competing egg brands when Vital Farms is unavailable.

Ask Fintool Equity Research AI

Answer

CEO Russell Diez-Canseco explained that while the company builds in some operational flexibility, there are limits to short-term upside as they do not source from the wholesale market due to high standards. CFO Thilo Wrede added that while they can push capacity for short periods, it's not sustainable long-term. Regarding stockouts, Russell Diez-Canseco noted that the company is running at full capacity to meet strong demand, which itself contributes to tight supply, viewing it as a 'good problem to have' that demonstrates brand strength.

Ask Fintool Equity Research AI

Answer

Founder, President, and CEO Ethan Brown clarified that the change in employee count was not due to administrative 'creep' but rather a shift in workforce composition, primarily from insourcing manufacturing activities after reducing the number of co-packers from thirteen to one. CFO and Treasurer Lubi Kutua added that prior international investments also contributed. Regarding John Boken, Brown stated his key objectives are to right-size the operational footprint to match current revenue, accelerate gross margin expansion by addressing issues like fixed cost absorption, and improve overall operational efficiency.

Ask Fintool Equity Research AI

Answer

CEO Ethan Brown clarified the guidance withdrawal is due to broad uncertainty in consumer spending, stating the priority is to focus the team on achieving profitability rather than an arbitrary revenue target. CFO Lubi Kutua added that while direct tariff impact seems minimal, the resulting consumer skittishness negatively affects the category. Regarding SG&A, Kutua confirmed about $7 million in Q1 extraordinary items and noted that while legal fees should normalize, costs from the China operations suspension will continue.

Ask Fintool Equity Research AI

Answer

CEO Ethan Brown attributed the flat Q1 forecast to temporary tightness from network consolidation and a distribution loss at a major customer that will be regained in Q2. CFO Lubi Kutua clarified that distribution gains refer to expanding presence in existing stores. Regarding the balance sheet, Kutua acknowledged the need to address the convertible debt maturing in two years and stated they are evaluating alternatives, pointing to the recent use of their ATM program as part of their ongoing plan.

Ask Fintool Equity Research AI

Answer

SVP & COO Patrick Migliaccio attributed the SaveGreen success to strong residential and commercial demand for efficiency programs and excellent execution, highlighting its benefits for customers, decarbonization, and shareholders via timely cost recovery. CEO Stephen Westhoven responded that NJR has consistently invested in system reliability and expansion to meet growth and expects to continue doing so.

Ask Fintool Equity Research AI

Answer

President and CEO Gavin Hattersley reiterated that the company is pleased with its current brewery footprint. He emphasized that strategic moves, such as exiting contract brewing for Pabst, have been beneficial by reducing complexity and freeing up capacity for growth priorities like Peroni and the Yuengling partnership, suggesting a major review is not imminent.

Ask Fintool Equity Research AI

Answer

CFO Tracey Joubert declined to provide specific quarterly guidance but outlined the key drivers for the year. She reiterated the top-line forecast assumes 1-2% net price increases in North America. She also noted that the headwind from exiting contract brewing would be similar in Q2 as in Q1, and that the alignment of shipments (STWs) with depletions (STRs) is expected to occur primarily in Q3, not Q2.

Ask Fintool Equity Research AI

Answer

CEO Gavin Hattersley acknowledged softer U.K. consumer demand and confirmed a 'value-over-volume' strategy for the Carling brand. However, he expressed long-term optimism for the segment, pointing to the successful expansion of Madrí into new markets and stating that he sees no reason why the EMEA & APAC business won't eventually grow faster than the North American business.

Ask Fintool Equity Research AI

Answer

CEO Casey Keller acknowledged that the spices business was slightly below expectations but should turn positive in the second half. He explained that while they are exploring alternative sourcing, options are limited for key items like garlic, where China supplies 80% of the world's market. Therefore, the company will need to implement pricing to recover tariff costs.

Ask Fintool Equity Research AI

Answer

CEO Kenneth Keller explained that the company was already accelerating its portfolio shaping and cost reduction efforts prior to the stock's reaction, and the market's response only strengthened that conviction. He noted that while the April consumption trend included some benefit from the Easter shift, the underlying trend is improving. He clarified the $15 million inventory reduction occurred mostly in late January and into February.

Ask Fintool Equity Research AI

Answer

CFO Bruce Wacha directed him to the cash from operations figure in the press release, explaining that 2025 cash flow should be comparable to or slightly better than 2024, but would not replicate the large inventory-driven benefit of 2023. He acknowledged that while net debt did decline slightly in 2024, leverage did not decrease as much as planned due to lower-than-expected EBITDA for the year.

Ask Fintool Equity Research AI

Answer

CEO Casey Keller confirmed B&G is increasing resources for Crisco and Ortega to counter competitive pressures, with plans for innovation and marketing to improve trends in 2025. He dismissed the risk from Quaker, stating there is very little consumer substitution between Cream of Wheat and Quaker's oatmeal products.

Ask Fintool Equity Research AI

Answer

COO Nikki Beatty clarified that the company recognizes mixing is a common consumer behavior. The new advertising aims to educate on the health benefits of feeding fresh, whether as a main meal or a topper. She assured that the creative will be nuanced to appeal to different consumer subsets and will build on the brand's established story without alienating mixers.

Ask Fintool Equity Research AI

Answer

COO Nikki Beatty acknowledged that mixing is a common consumer behavior. She explained the new messaging aims to educate on the health benefits of fresh food, regardless of whether it's used as a main meal or a topper. The strategy is designed to grow both usage occasions by showcasing the value of adding fresh food to a pet's diet, with creative tailored to different consumer segments.

Ask Fintool Equity Research AI

Answer

CFO Todd Cunfer explained they have flexibility to manage costs, having already reduced the 2025 CapEx forecast from $250M to $225M, and can adjust line staffing to protect margins. He reiterated the commitment to being free cash flow positive in 2026 by pushing out capital projects if needed. CEO William Cyr confirmed that media spending dollars are planned to go up slightly versus the original plan.

Ask Fintool Equity Research AI

Answer

CEO William Cyr responded that while all options are being considered for a potential guidance update, the company's existing three manufacturing sites provide enough capacity to reach well over $2 billion in net sales. Therefore, any decision on a new footprint would impact the business in the 2029-2030 timeframe, well beyond the current 2027 targets.

Ask Fintool Equity Research AI

Answer

Executive William Cyr clarified that while all options are being considered for a potential guidance update, the existing three manufacturing sites provide enough capacity to reach over $2 billion in net sales. Therefore, any decision to expand the physical footprint would impact a period well beyond 2027, likely not being needed until 2029 or 2030.

Ask Fintool Equity Research AI

Answer

President and CEO Rick Dierker expressed high satisfaction with the international segment's mid-to-high single-digit growth. He attributed this largely to the rapid and successful rollout of recent acquisitions, highlighting that the Hero brand was launched in 50 countries within 12 months. He noted strong global demand for these brands is allowing them to gain share even in slowing economies, and that they are in the 'early innings' of this expansion.

Ask Fintool Equity Research AI

Answer

Executive Richard Dierker responded that there has not been a significant shift in promotional tactics. Instead, the primary pivot has been in advertising, where the company is adjusting its messaging to emphasize the value proposition of its brands more explicitly to appeal to the currently pressed consumer.

Ask Fintool Equity Research AI

Answer

Matthew Farrell (executive) expressed confidence in the 2025 pipeline, noting that this year's successful launches will have a full year of contribution next year, supplemented by new ideas. He stated that the company's long-standing 60/40 premium-to-value portfolio split is well-suited for changing consumer habits and is unlikely to change significantly.

Ask Fintool Equity Research AI

Answer

Chairman, CEO & President Noel Wallace explained that Brazil's market is historically accommodating to price increases. He expressed confidence that Colgate's strong brand health and premium innovation, like the new Colgate Total, would support pricing actions. He confirmed pricing was taken in late Q2 to offset foreign exchange headwinds and will flow through in the second half, despite short-term consumer cautiousness.

Ask Fintool Equity Research AI

Answer

Noel Wallace, Chairman, President and CEO, clarified that the trade-down he mentioned earlier was in North American toothpaste, not Hill's. He stated there is no trade-down in Hill's, which saw 5% organic growth ex-private label on a flat category. He highlighted broad-based strength across all formats (wet, dry, treats) and product lines (Prescription Diet, Science Diet), driven by strong innovation, investment, and growth in under-indexed areas like wet food and cat food. He also noted a 450 basis point margin improvement for Hill's.

Ask Fintool Equity Research AI

Answer

Noel Wallace, Chairman, President and CEO, attributed Europe's success to significant investment, strong volume growth, and improved brand health, leading to record-high Oral Care market shares. While acknowledging the region's inherent challenges, he confirmed the business is in good shape with high gross margins and strong advertising support.

Ask Fintool Equity Research AI

Answer

CEO Linda Rendle acknowledged that technology investment is continuous but characterized the current project as a 'once in a generation reset' of a 25-year-old ERP system and its surrounding infrastructure. She explained this is why the significant, concentrated cost is treated as a one-time item, distinct from the normal course of business technology spending that will be included in future operating expenses and capital budgets.

Ask Fintool Equity Research AI

Answer

CFO Luc Bellet stated the tariff exposure is mostly on packaging and raw materials, with limited impact from finished goods. CEO Linda Rendle explained that while a direct causal link is difficult to prove, evidence suggests consumers are adjusting their single wallet, shifting spending broadly and conserving in other areas. She noted that at-home behaviors in their categories haven't changed, indicating a shift in spending priorities rather than category deprioritization.

Ask Fintool Equity Research AI

Answer

CEO Linda Rendle attributed International growth to a stabilized portfolio, strong Cleaning business performance, and expansion in categories like Cat Litter. Professional growth was driven by penetrating new verticals such as government and healthcare. CFO Kevin Jacobsen quantified the company's raw material sourcing exposure from Mexico and Canada as being in the 'single digits.'

Ask Fintool Equity Research AI

Answer

CFO Kevin Jacobsen explained that the Q2 margin dip is driven by normal seasonality (e.g., the end of the high-margin charcoal season) combined with the impact of volume deleveraging. He acknowledged the Q1 EPS beat was stronger than internal forecasts but stated the modest guidance raise reflects prudence early in the year, ongoing monitoring of the consumer environment, and a desire to maintain financial flexibility.

Ask Fintool Equity Research AI

Answer

CEO Howard Friedman confirmed that SG&A spending as a percentage of sales will be modestly higher in the back half to support westward expansion and peak summer marketing, funded by gross margin expansion. He also affirmed that Boulder Canyon is a premium, higher-margin brand, and its growth contributes a positive mix benefit that supports the back-half EBITDA outlook.

Ask Fintool Equity Research AI

Answer

CFO Ajay Kataria stated that 2025 EBITDA margin expansion will be driven by a strong productivity program, targeting approximately 80 basis points of improvement. Both Kataria and CEO Howard Friedman highlighted that productivity gains stem from capital investments in automation, increased capacity, procurement efficiencies, and network optimization, including the new RDC. Friedman also clarified that the double-digit decline seen in the non-branded business should not be expected to repeat in 2025.

Ask Fintool Equity Research AI

Answer

CEO Howard Friedman observed that the potato chip promotional environment is normalizing away from deep discounting and toward different value constructs, including bonus bags. In response to the follow-up, he stated that while Utz feels good about its current plans, the company will always evaluate its tactics and is building the capability to make changes at speed if necessary.

Ask Fintool Equity Research AI

Answer

CEO Howard Friedman confirmed the bonus pack program was intended as a limited-time test to deliver value and drive trial, and that it is now winding down as the company transitions to summer merchandising plans. CFO Ajay Kataria added that going forward, investors should expect a more normal course with about one point of price investment.

Ask Fintool Equity Research AI

Answer

CEO Steven Oakland confirmed strong demand and opportunity in ground coffee, noting the Northlake facility expansion is nearly complete, enabling new business bids. On broth, he reported that service levels have been 'fantastic' and that the business is on the verge of returning to pre-pandemic growth levels as they prepare for the peak season.

Ask Fintool Equity Research AI

Answer

Chairman, President & CEO Michele Buck clarified that while the 'take-home' segment faces pressure from private label, Hershey is gaining share in the 'instant consumable' segment. She noted the upcoming Oreo launch is targeted at strengthening the take-home business. The tough Q4 comparison is due to the ramp-up of major 2025 innovations that occurred late in 2024.

Ask Fintool Equity Research AI

Answer

Chairman, President & CEO Michele Buck clarified that Hershey is now gaining share and growing ahead of the category in instant consumables due to successful planogram partnerships with retailers. She noted that the pressure has been in the take-home segment, which the Oreo launch aims to address. The tough Q4 comparison is due to the ramp-up of major 2025 innovation at the end of 2024.

Ask Fintool Equity Research AI

Answer

Chairman, President & CEO Michele Buck clarified that Hershey is gaining share and growing ahead of the category in instant consumables, thanks to successful planogram partnerships with retailers. She noted the pressure is in the take-home segment, which the new Oreo launch is designed to address. She explained that the tough Q4 comparison is due to the ramp-up of major 2025 innovation that began at the end of 2024.

Ask Fintool Equity Research AI

Answer

CEO Michele Buck explained the expansion provides agility, supply chain control, and vertical integration by producing chocolate paste. She noted that Hershey was capacity-constrained pre-COVID and the investment allows them to meet demand, particularly in seasons, enabling share gains and innovation.

Ask Fintool Equity Research AI

Answer

Chairman & CEO Dirk Van de Put stated the 2026 media investment is not a catch-up but a strategic necessity to support the chocolate category after major price hikes and to bolster brands in the weak U.S. market. CFO Luca Zaramella added that the upcoming U.S. price increases are 'surgical,' designed to protect key price points and popular formats, thereby minimizing the risk of significant volume loss.

Ask Fintool Equity Research AI

Answer

CEO Dirk Van de Put explained that the 2026 media investment is a strategic necessity to support brands after significant price hikes, not a 'catch-up'. CFO Luca Zaramella added that the upcoming U.S. price increases are 'surgical,' designed to protect key price points and popular pack sizes while targeting less-sensitive, non-core brands to minimize volume impact.

Ask Fintool Equity Research AI

Answer

CFO Andre Schulten stated that pricing on tariff-impacted SKUs would be mid-single digits, but the average price increase across the entire U.S. portfolio would be about 2.5%, in line with inflation. He confirmed that pricing variability is a factor in the guidance range, but the biggest uncertainty remains underlying consumer strength.

Ask Fintool Equity Research AI

Answer

Executive Andre Schulten clarified that the $200 million commodity inflation guidance is separate from and excludes the newly announced tariff impacts. He declined to comment on the potential for commodity benefits in fiscal '26, stating that guidance is based on spot prices at the time of planning and that the range of outcomes will be wide.

Ask Fintool Equity Research AI

Answer

Jon Moeller, Chairman, President and CEO, stated that negative pricing is not part of the company's thought process, as the focus is on value creation. Andre Schulten, an executive, explained that the positive mix is a healthy dynamic driven by consumers trading up within categories to higher-performing, premium products like unit-dose detergents, which is exactly what P&G wants to encourage.

Ask Fintool Equity Research AI

Answer

Executive Andre Schulten clarified that the outlook is still for a $200 million after-tax headwind for the year, not a net benefit. He explained that decisions on how to manage costs and reinvestments are decentralized and made by individual business units based on what is best for their categories and regions, rather than through a corporate mandate.

Ask Fintool Equity Research AI

Answer

CEO & Chairman Irwin Simon clarified that $8 million in shipments were delayed and are expected to be recognized in Q1/Q2. He expressed confidence in significant international growth from markets like Germany, Poland, and the UK. For Project 420, he outlined ongoing efforts including manufacturing and distributor consolidation, regaining lost retail space, and improving operational efficiencies in brew pubs.

Ask Fintool Equity Research AI

Answer

CEO Irwin Simon acknowledged the beverage business was 'off a bit' compared to internal plans, attributing it to the timing of new product launches and distributor uptake. He noted that current activities include SKU rationalization and brand integration, which require upfront investment but are expected to yield benefits over the year. Simon expressed confidence in the growth plan, citing high hopes for new innovations and the recently acquired Molson Coors brands.

Ask Fintool Equity Research AI

Answer

Chairman and CEO Irwin Simon confirmed that Q1 integration challenges with ABI brands were resolved, contributing to 36% beverage revenue growth. Ty Gilmore, President of Tilray Beverages North America, added that the innovation pipeline for the next 7-8 months is finalized and has been positively received by distributors.

Ask Fintool Equity Research AI

Answer

President & CEO Mike Smith clarified that the 1 to 1.5 billion pounds of delayed or canceled capacity were not in North America. He acknowledged some competitor projects are in their final stages in the region but emphasized that the majority of new capacity is international. CFO Bernadette Madarieta added that Lamb Weston's strategy is to focus on premium segments where not all new capacity can effectively compete.

Ask Fintool Equity Research AI

Answer

CEO Mike Smith confirmed that after exploring a potential sale of the Connell facility's building, the company decided against it for now and is reviewing other options. He also shared his belief that some competitor capacity additions have been delayed, but could not provide specific details on their plans.

Ask Fintool Equity Research AI

Answer

CFO Bernadette Madarieta confirmed the back-half guidance includes line of sight to existing customer wins and does not rely on a large amount of unknown new business. President and CEO Thomas Werner acknowledged that repairing some relationships has taken time but feels the company is through the most challenging discussions with its large customers.

Ask Fintool Equity Research AI

Answer

CEO Tom Werner and CFO Bernadette Madarieta confirmed that while the pricing environment is competitive, it remains disciplined and in line with expectations. They anticipate greater, but planned, pricing investments in the coming quarters, which will lead to some negative price/mix. Werner declined to speculate on the broader industry rebalancing, stating Lamb Weston's actions are for its own benefit and the industry's path depends on traffic trends.

Ask Fintool Equity Research AI

Answer

President and CFO John Murphy expressed confidence that positive volume growth would return in the second half, as reflected in the full-year guidance. He downplayed the Q4 comp, stating the company's ability to influence results is more important. He pointed to good underlying business momentum outside of the Q2 anomalies and a robust investment plan for the back half of the year.

Ask Fintool Equity Research AI

Answer

Chairman and CEO James Quincey said the impact from a false video is now 'largely in the rearview mirror,' and recovery efforts are focused on localness and affordability. Regarding the Hispanic consumer, he noted a pullback in purchasing, likely due to caution from geopolitical tensions. He believes this will abate and that the company's strategy of local execution will see it through.

Ask Fintool Equity Research AI

Answer

CEO James Quincey cautioned against exaggerating the impact, stating that while not insignificant, the aluminum price increase is a manageable problem within the multi-billion dollar U.S. business. He explained that a combination of mitigating factors, including sourcing, can weights, potential price increases, and shifts to other packages, would be used. He stressed that it is not a huge swing factor and the company will manage through it.

Ask Fintool Equity Research AI

Answer

Chairman and CEO James Quincey expects 2025 to be the 'inverse of the third quarter,' with emerging markets resuming their faster growth trajectory compared to developed economies. This dynamic will contribute to overall volume growth but will have a less positive mechanical effect on price/mix, leading to a more normalized balance between volume and pricing.

Ask Fintool Equity Research AI

Answer

President & CEO Sean Connolly strongly refuted the premise, stating that premiumization has been central to their strategy for a decade. He cited the example of Banquet meals evolving from a sub-$1 item to a high-quality, ~$4 product with a superior value proposition. He also highlighted the recent success of the premium-priced Banquet Mega Chicken Filets, which exceeded all expectations before hitting capacity limits, reinforcing the consumer appetite for their premium innovations.

Ask Fintool Equity Research AI

Answer

CEO Geoff Tanner acknowledged increased competition in the RTD space but expressed satisfaction with the Quest beverage launch, which has achieved ~22-23% ACV. He noted the 45-gram protein shake is performing well. Regarding club stores, he stated it's early and the ideal strategy is to build the brand in other channels first before launching a large club-sized pack.

Ask Fintool Equity Research AI

Answer

CEO Geoff Tanner explained that Quest only requires low single-digit growth from bars to meet its targets, with chips and other platforms driving most of the growth. He expressed excitement for the new 'Overload' bar platform to bring excitement to the category. He also confirmed the innovation pipeline includes both building out existing platforms and extending into new categories by 'flipping the macros'.

Ask Fintool Equity Research AI

Answer

CEO Gary Pilnick acknowledged Special K's weak quarter but outlined a plan to lean into its health equity with a stronger food focus, on-pack claims, a new protein granola, and a relaunch of Special K Zero. He stated the company will both revitalize its existing health-oriented brands and use its IP to create new, competitive products to challenge emerging brands.

Ask Fintool Equity Research AI

Answer

Chairman and CEO Gary Pilnick acknowledged Special K's weak quarter but outlined plans to leverage its health equity with a stronger focus on food, nutrient density, and new products like a protein granola and a restaged Special K Zero. He described the strategy against emerging brands as an 'and' approach: improving their existing portfolio while also using their extensive IP to launch new, competitive products internally.

Ask Fintool Equity Research AI

Answer

CEO Gary Pilnick positioned the share performance within the context of meeting financial goals and executing strategic priorities. He specified the U.S. share loss was driven by Special K, while other core brands were stable. He affirmed the supply chain timeline is deliberate to ensure careful planning and execution without disrupting the commercial business.

Ask Fintool Equity Research AI

Answer

The company described 2024 as a year of stabilization at elevated cost levels, with benefits from lower grain prices being offset by inflation in other areas like sugar, rice, and labor. They expect this dynamic of stabilization at high levels, with various puts and takes, to continue into 2025.

Ask Fintool Equity Research AI

Answer

David McKinstray, CFO, characterized the 2024 cost environment as a 'stabilization at these higher levels.' He noted that benefits from lower grain costs were offset by inflation in other areas like sugar and rice. He included labor within this overall net stabilization and suggested this dynamic would likely continue into 2025, with costs remaining elevated but stable.

Ask Fintool Equity Research AI

Answer

CFO Dave McKinstray characterized 2024 as a 'stabilization at these higher levels.' He explained that while the company benefited from deflation in grains like corn and wheat, this was offset by continued inflation in other areas such as sugar, rice, and labor. He indicated that this stabilization at elevated costs is the current expectation moving into 2025.

Ask Fintool Equity Research AI

Answer

President and CEO Darcy Davenport confirmed that they could have tightened the guidance range even with the destocking impact factored in. She reiterated that the decision to maintain the current range was a deliberate choice to remain cautious in light of general uncertainty in the consumer environment.

Ask Fintool Equity Research AI

Answer

President and CEO Darcy Davenport described the convenience channel as a future, but not immediate, opportunity, noting the company is currently testing a hybrid 'ship via warehouse, merchandise like DSD' model. On GLP-1s, she stated they continue to be a tailwind, representing about a quarter of the company's growth. The newest data shows GLP-1 user penetration is stabilizing, with as many people starting the drugs as coming off them, but consumers continue to use RTDs both during and after treatment to maintain benefits.

Ask Fintool Equity Research AI

Answer

President and CEO Darcy Davenport responded that while it is still early, elasticities have been modest and largely in line with expectations. She highlighted a positive, slightly higher-than-expected consumer trade-up from 4-count to 12-count packs, which suggests pantry loading and increased consumption.

Ask Fintool Equity Research AI

Answer

CFO Garth Hankinson declined to confirm the specific financial impact, stating that the effect of tariffs is fully baked into the comprehensive guidance provided for revenue growth and operating margins. He noted these figures also include assumptions for productivity, cost savings, and other inflationary pressures.

Ask Fintool Equity Research AI

Answer

CEO William Newlands confirmed they are assessing the competitive dynamics in the light beer segment. However, he maintained that the company's long-standing 1% to 2% pricing algorithm remains the correct strategy. He emphasized this pricing is applied selectively by market and SKU, which is more consumer-friendly and sustainable than broad, reactive price changes.

Ask Fintool Equity Research AI

Answer

CEO William Newlands reiterated that the initiatives would take 9-12 months to fully play out and that sequential improvement is expected in the second half of the year. He stated definitively that the company does not plan to acquire more wine properties at this time. The current focus is entirely on improving the operational performance of the existing business and engaging more with distributor partners.

Ask Fintool Equity Research AI

Answer

CEO Mick Beekhuizen differentiated the competitive dynamics, stating the plan for Goldfish is not a margin reset but a focus on reinforcing its value proposition through marketing, innovation, and price-pack architecture. On tariffs, he described the situation as fluid and multifaceted, noting the company is working on mitigation plans with suppliers but may need to take other actions, including pricing, depending on the final scope and duration of the tariffs.

Ask Fintool Equity Research AI

Answer

CEO Mark Clouse defended the long-term margin goal, citing an intact cost-savings roadmap and the company's focus on value-added segments that are less susceptible to major price recalibrations. CFO Carrie Anderson outlined the path to second-half margin improvement for Snacks, which includes better volume trends, favorable mix from leadership brands, a more neutral pricing impact, and accelerated productivity savings from plant restructuring and DSD optimization.

Ask Fintool Equity Research AI

Answer

CFO Nelson Urdaneta clarified that the historical productivity savings were driven by manufacturing optimization, not procurement, and that 2025 productivity is targeted in the 5% range. He affirmed the goal of maintaining a neutral PNOC. CEO Michael Hsu added that strong visibility into productivity is a key driver for fueling investment and bottom-line growth.

Ask Fintool Equity Research AI

Answer

CEO David Bratcher stated that the commercial team has engaged with all customers to build the 2025 forecast, which focuses on more stable, multinational contracts. He explained that 2025 branded growth will be driven by portfolio diversification into high-growth categories like premium tequila, leveraging the company's agility. Bratcher also suggested that rumored distributor cutbacks are focused on their wine portfolios, which could be a net positive for spirits as they reallocate resources to more profitable categories.

Ask Fintool Equity Research AI

Answer

Chairman, President and CEO Steven Cahillane agreed with the premise, stating that while price-package architecture has always been important, the absolute dollar price is under more pressure now due to the strained consumer environment. He noted this sensitivity is particularly heightened for households with children and incomes under $100,000, and that it varies throughout the monthly pay cycle.

Ask Fintool Equity Research AI

Answer

The improvement will be cumulative throughout the year, not a single inflection point. It will be driven by a return to full innovation, increased brand building, and better quality merchandising. The most notable improvement in retail tracking is expected in the third quarter, with momentum building throughout the year.

Ask Fintool Equity Research AI