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PepsiCo announced on Thursday that it will increase prices on some of its products including Doritos, Ruffles, SunChips, and certain soda brands by single-digit percentages to address rising costs for fuel, aluminum, and agricultural supplies. This pricing strategy marks a reversal from February when the company had lowered prices to attract consumers impacted by inflation; however, this move did not achieve the desired results as third-quarter earnings in North America were below expectations. CEO Ramon Laguarta attributed the weaker performance partly to declining soda sales compared to competitors.
Written locally by qwen2.5:14b on 2026-10-08,
using this article's own text rather than the other coverage of the
same event (that is the story summary below).
Story summary
In the third quarter of 2023, PepsiCo announced plans to raise prices on some of its snacks and beverages in response to disappointing sales figures. The company will increase prices for brands like Doritos, Ruffles, SunChips, and certain soda lines by a single-digit percentage range, following efforts earlier this year to lower prices to attract inflation-battered consumers. Despite these initial discounts, which included up to 15% price cuts on products such as Lay’s chips before the Super Bowl, PepsiCo's North America division saw weaker-than-expected earnings and slower turnaround progress than anticipated. Fuel, aluminum, and agricultural supply costs have risen sharply due to factors like the conflict with Iran and tariff impacts, necessitating these new pricing adjustments. However, PepsiCo assured that the prices will still be lower compared to their levels at the start of 2023.
Written for “PepsiCo Price Hikes” on 2026-10-08,
grounded in this article and the 0 other(s) covering the same event.
Why this leaning score
The article's own words the score was based on. Each is quoted
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Leaning: leans right for article 66676 (medium confidence, 1 verified quote) · logged 2026-10-08
PepsiCo said Thursday it’s raising prices on some chips and drinks after a disappointing third quarter — pivoting from a recent effort to save consumers money — due to soft soda sales and struggles pulling off its turnaround plan.
asserted
it → say → plan
Doritos, Ruffles, SunChips and some soda brands will see prices jump in the single-digit percentage range, the company said.
asserted
company → see → range
Pepsi said it needs to raise some prices to offset rising costs for fuel, aluminum and agricultural supplies, which have skyrocketed due to the Iran war and tariffs.
asserted
which → say → war
But it’s a notable strategy shift from February, when the company slashed prices on Lay’s, Doritos, Cheetos and Tostitos by up to 15% just ahead of the Super Bowl in an attempt to win back inflation-battered consumers.
asserted
company → ’ → consumers
PepsiCo CEO Ramon Laguarta said the lower prices helped bring back some customers, but third-quarter earnings in the North America division were weaker than expected – and its turnaround is taking longer than they had hoped.
asserted
they → say → division
Frito-Lay snack food volumes were flat compared to the same period last year, while beverage volumes slipped 2%.
asserted
volumes → compare → period
“We don’t feel good about the beverage business,” Laguarta said during a conference call Thursday, admitting the company’s sodas – including its flagship Pepsi brand – had fizzled compared to competitors.
asserted
sodas → feel → competitors
He added that PepsiCo will put “all of the urgency of the business and the focus on improving our performance in soft drinks.”
asserted
PepsiCo → add → drinks
The company plans to cut costs and use the savings to ramp up investments in Poppi, the healthy probiotic soda brand it acquired last year, as well as Mountain Dew and Pepsi.
asserted
it → plan → Poppi
PepsiCo embarked on a turnaround process last fall after activist investor Elliott Investment Management took a $4 billion stake in the company and demanded it lower its prices.
asserted
it → embark → prices
It had hiked prices by double-digit percentages for eight quarters in a row through 2022 and 2023, arguing it had to cover rising costs as inflation ran rampant in the wake of the pandemic.
asserted
inflation → hike → pandemic
Despite lowering prices this year, the company has been facing sluggish demand for sodas and snacks, as shoppers cut back on non-necessities and rising GLP-1 usage weighs on sales of junk food.
asserted
usage → lower → food
In the third quarter, the company’s best-performing products in North America included snacks with simpler ingredients, including Doritos without artificial colors or flavors, as well as hydration drinks like Gatorade and energy drinks like Celsius.
asserted
products → perform → Celsius
It plans to expand its high-protein offerings to win over weight-loss drug users, since they need to be on high-protein, high-fiber diets.
asserted
they → plan → diets
PepsiCo reported better-than-expected revenue in the third quarter thanks to strength in its international business, which accounts for 41% of company revenue.
asserted
which → report → revenue
Its global snack food volumes jumped 4%, helped by World Cup-related demand for Lay’s snacks.
asserted
volumes → jump → snacks
It recorded adjusted earnings per share of $2.34, above Wall Street estimates of $2.29.
asserted
It → record → 2.29
The company lowered its annual forecast, now expecting adjusted earnings per share to grow 2.5% to 3.5% – down from a previous estimate of 5% to 7% growth.
asserted
earnings → lower → growth
However, it expects full-year revenue to grow 6%, at the high end of a previous 4% to 6% forecast range.
asserted
revenue → expect → range
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