US: PBG confirms earnings guidance
The Pepsi Bottling Group, Inc. (PBG) today (7 September) affirmed its forecast for third quarter diluted earnings per share (EPS) and projected that its results will likely reach the high end of its guidance range of US$0.76 to US$0.78.
For the full year, diluted EPS are projected to be US$1.82 to US$1.88, with worldwide volume growth of about 3% and a net revenue per case increase of 3%. The full-year volume projection excludes the impact of the 53rd week.
During the third quarter, which closed on 3 September, PBG's constant territory worldwide physical case volume grew by 5%. Physical case volume both in the US and Canada grew by 4% in the quarter. PBG's businesses in Europe and Mexico each had robust volume growth in the third quarter, up by 8% and 7% respectively.
In a statement, John T. Cahill, PBG chairman and CEO, said: "We delivered strong topline growth in all of our territories with the US pricing environment remaining positive. In the US, volume was driven largely by Aquafina growth as well as impressive gains in Tropicana and Lipton. Our quarter just ended over the weekend and the financial books have not been closed.
"We do expect that our strong worldwide volume performance will be offset by higher than anticipated costs, but we are confident that we will deliver at the high end of our third quarter EPS guidance."
PBG is scheduled to issue its complete third quarter 2005 earnings results on 27 September.
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...
The Pepsi Bottling Group (PBG) has agreed a deal with Hershey Entertainment & Resorts which will see Pepsi become the official beverage at numerous Hershey resorts including Hersheypark, The Hotel Her...
The Pepsi Bottling Group has appointed a new independent auditor....
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 ...
PepsiCo has confirmed that it is to drop its low-calorie drink Pepsi Edge....
PepsiCo is rolling out a lime version of its Pepsi and Diet Pepsi brands....
PepsiAmericas yesterday reported a small rise in first quarter net income and earnings per share to US$20.8m and US$0.15 respectively. The results compares to net income of US$20.5m US$0.14 for the fi...
Cadbury Schweppes plans to add Splenda artificial sweetener to Diet 7 Up next month....
- Is Diageo approaching its "Et tu, Brute" Moment?
- Diageo Q4 & FY - Preview
- SABMiller, Carlsberg, Heineken: Poland's beer itch
- SABMiller's Q1 Sales Performance by Region
- Are Big Spirits Companies Failing to Innovate?
- Diageo comm's director latest to leave
- Global business development head to quit Diageo
- Diageo hit by SEC investigation in US
- just the Winners - IWSC Spirits Trophy Winners
- Suntory sells Louis Royer Cognac for US$110m
- Global rum insights - market forecasts, product innovation and consumer trends research
- Global liqueurs insights - market forecasts, product innovation and consumer trends research
- Global cachaca insights - market data, product innovation and consumer trends research
- Global Tequila insights - market forecasts, product innovation and consumer trends research
- Global gin insights - market data, product innovation and consumer trends research