The U.S. consumer is “challenged” and looking for value, PepsiCo’s CEO said Thursday, offering a 🐟fresh view on the state of America♚n households as earnings season gets under way.

Drink and snack giant PepsiCo (PEP) reported its 澳洲幸运5官方开奖结果体彩网:latest financial results earlier today, offering a scaled-back outlook that disappointed investors. On a conference call with analysts this morning, 澳洲幸运5官方开奖结果体彩网:Chief Executive Officer (CEO) Ramon Laguarta discussed the state of the U.S.꧃ consumer, which investors will watch closely as the second-quarter earnings season picks u🥃p steam. 

'Difficult Consumer Environment'

Earlier this week, the CEO of consumer brands company Helen of Troy (HELE) referenced 澳洲幸运5官方开奖结果体彩网:a “stretched” consumer. And food company Conagra Brands (CAG) discussed a “difficult consumer environment” in its own report 澳洲幸运5官方开奖结果体彩网:earlier today. 

Some of Laguarta's comments, according to a transcript of the call from AlphaSense: 

• “In the U.S., there is clearly a consumer that is more challenged and is a consumer that is telling us that in particular parts of our portfolio, they want more value to stay with our brands. That is not for all the consumers.”
• “I think this need for value or more value consciousness, I think, is impacting every household in the U.S. So it is different levels of income, I think it's impacting everybody, and we're seeing behaviors in different income levels.”
• “So maybe you see the higher-income consumers, that they're not going to expensive restaurants, they're adjusting their behavior to more affordable restaurants or they stay at home and then they create their own entertainment moments or fun moments at home.”
• “So do you see different behaviors happening everywhere? I think the connecting line, it would be the consumer is more cautious, the consumer is more choiceful, but the consumer is willing to spend in areas where they see value.”

Bank earnings, which 澳洲幸运5官方开奖结果体彩网:start to land tomorrow, will help further illustrate consumers' financial health.