Pepsico Inc. (PEP) Profit Up 13 Percent
PepsiCo Inc., the world's second-largest soft drink maker, said Tuesday its second-quarter profit rose 13 percent on the strength of sales in its international and Frito-Lay units, and raised its full-year earnings outlook.
But its shares waffled as the company announced declines for Gatorade sports drinks and Tropicana orange juice, contributing to a 1 percent slip in beverage volumes in North America.
The company also said the higher earnings reflected a lower quarterly tax rate and that results were dampened by higher raw materials costs that affected its profit margins internationally.
Profit for the quarter ended June 16 was $1.56 billion, or 94 cents per share, up from $1.38 billion, or 81 cents per share, a year earlier.
Revenue rose 10 percent to $9.6 billion from $8.71 billion last year.
Analysts polled by Thomson Financial had predicted 89 cents per share on revenue of $9.38 billion. Consensus estimates usually exclude one-time items.
But its shares waffled as the company announced declines for Gatorade sports drinks and Tropicana orange juice, contributing to a 1 percent slip in beverage volumes in North America.
The company also said the higher earnings reflected a lower quarterly tax rate and that results were dampened by higher raw materials costs that affected its profit margins internationally.
Profit for the quarter ended June 16 was $1.56 billion, or 94 cents per share, up from $1.38 billion, or 81 cents per share, a year earlier.
Revenue rose 10 percent to $9.6 billion from $8.71 billion last year.
Analysts polled by Thomson Financial had predicted 89 cents per share on revenue of $9.38 billion. Consensus estimates usually exclude one-time items.
Labels: PEP, Pepsico Inc.
posted by Stock Administrator @ 4:23 PM
0 Comments:
Post a Comment
<< Home