Pepsi Bottling Group raises second quarter and full-​year earnings guidance

For the full year, PBG now expects comparable diluted EPS in the range of $2.30 to $2.40, up 10 cents from the company’s previous forecast. The company also raised its full-​year operating free cash flow guidance by $25m to $525m.

Among the key drivers of the company’s revised outlook are:

• improved carbonated soft drink performance in the US
• decreased volatility in foreign currencies
• continued commodity cost deflation.

“PBG’s strong start to the year has continued in the second quarter,” said PBG chairman and CEO, Eric Foss. “Improving fundamentals in our US and Canada business, coupled with the success of our global pricing strategy, are producing solid results. We’re also delivering significant cost and productivity savings and superior execution at the point of sale. At the same time, we’re beginning to see favourable trends within our sector as well as in the commodity and foreign currency markets. As a result, our performance continues to exceed our expectations and we’re raising our guidance.

“Our focus for the balance of the year and beyond will remain on strengthening our brand portfolio, transforming our performance through operational excellence, and pursuing geographic growth opportunities. As global economies recover and the liquid refreshment category rebounds, PBG will be well positioned to win in the marketplace and create shareholder value.”

Source: Pepsi Bottling Group

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