USA: PepsiCo EPS Surges 24%
Earnings per share for PepsiCo, Inc. surged 24% to $.38 cents in the second quarter ended June 10, from $.31 in the prior year on a pro forma basis. Revenues jumped 9% to $4.9 billion as every operating division posted higher volume.Roger Enrico, chairman and CEO, said: "PepsiCo continues to generate broad-based growth, healthy cash flow and improving returns on capital. Our volume gains in the second quarter reflect the strength of our businesses and our excellent position in the vast convenient food and beverage market. Our second quarter performance also confirms that we can sustain 12-13% EPS growth, with occasional upsides.""Looking ahead, we believe that changing lifestyles will continue to create enormous opportunities for PepsiCo. We believe our commitment to innovation and our unparalleled distribution capability can drive consistent double-digit EPS growth in the second half of 2000, and beyond." Some highlights from the quarter include:
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