US: EPS for Pepsi Bottling cut by analysts
The quarter four EPS has been cut from US$0.27 to US$0.26, while full-year EPS is down from US$1.69 to US$1.59. The changes are driven by lower estimated operating income for the company's Mexico operation, informed in part by recent conversations between Legg Mason and retailers and participants in Mexico's soft drink market.
In a release detailing the EPS cut, Legg Mason gave details for the cut. "Our revision takes us to US$0.13 below consensus of US$1.72 for 2004 and is overdue, in our assessment, on two counts," the analysts said. "First, we believe this sort of result is in line with current buyside expectations. Second, we have not gone from expecting a temporary 2H 03 deterioration in region profit trends that reverses in 2004. Rather, we have shifted our focus to reasonable expectations of performance beyond 2003 a few days before management shares their own shift."
Legg Mason said: "The 12-month risk/reward remains weighted heavily to the upside, by our analysis, due partly to a valuation that effectively says "we don't believe the numbers...or substantially lower numbers"."
In the battle of the giants, PepsiCo has stolen a march on Coca-Cola over the last year or so and its performance in the first half of the current fiscal year suggests it is still has the upper hand. ...
A recent report on the UK soft drinks market showed that growth in non-carbonates at the expense of traditional carbonated soft drinks is much less marked in the on-premise sector than in the take-hom...
A departing PepsiCo executive is to be handed a US$4.56m package spread over the next two years for his consultancy services....
The Pepsi Bottling Group has signed a letter of intent to acquire Pepsi-Cola Bottling Company of Charlotte (Pepsi Charlotte) for an undisclosed sum....
The Pepsi Bottling Group today reported second quarter net income of US$148m, or diluted earnings per share (EPS) of $0.59. The results were up on the same period last year as the company grew volumes...
Pepsi-Co. has been removed from a Syrian blacklist of companies which have dealings with Israel, according to a report in the official Syrian newspaper al-Thawra....
Pepsi has launched a new 50cl silver-coloured bottle for its Pepsi light soft drink as part of a major advertising campaign to roll out this summer in Spain....
PepsiCo's president and CFO, Indra Nooyi, has been forced to apologise for remarks she made whilst speaking to the 2005 graduating class of Columbia University's Business School in New York City last ...
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