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PepsiCo reports solid Q3 results
PepsiCo has reported solid profit performance in the third quarter of 2009, reflecting the company’s balanced approach to investing in value and innovation in key markets, as well as productivity and cost discipline across its businesses.
Reported EPS was $1.09, and in constant currency the company delivered 5% net revenue growth and an 8% increase in core EPS.
Highlights
- Reported EPS up 10%, core constant currency EPS up 8%.
- Full-year 2009 cash flow from operations expected to reach $6.4bn, $7bn excluding one-time pension contribution.
- Targets full-year fiscal 2010 core constant currency EPS growth of 11–13%.
- Preparations for bottler integration on track.
Indra Nooyi, PepsiCo chairman and CEO, said: “PepsiCo’s diversified food and beverage portfolio and our advantaged business model continued to drive solid results this quarter. Our teams around the world leveraged PepsiCo’s agile go-to-market system to deliver our brands at differentiated value to consumers, who are still feeling the pinch of the global recession despite improving macroeconomic indicators.
“We will continue to make targeted investments across our entire portfolio, and we expect these to ramp up next year as we begin to realise the benefits of the integration of our two anchor bottlers. These investments in innovation, infrastructure, key markets and people development, coupled with our operating agility and focus, give me great confidence in the near– and long-term growth prospects of PepsiCo.”
Source: PepsiCo
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