News

US: PepsiCo reports increase in second quarter earnings

Most popular

How US wholesalers view the next six months

Heineken faces China distribution gap - comment

Biden win focuses drinks on climate change

Why Aperol's crown is worth fighting over

Heineken faces tough battle in China - analysis

MORE
The food and beverage group, PepsiCo Inc., reported earnings of $940m, for the second quarter to June 15, against $824m for the corresponding period a year earlier. The result, representing 52 cents per share, was broadly in line with analysts' forecasts.

PepsiCo published results calculated on a comparable basis, taking into account the adoption of an accounting change and the consolidation of a European snack joint venture. The comparable results also exclude Quaker merger-related costs and other impairment and restructuring charges.

On a reported basis, the group's earnings for the second quarter were $888m, or 49 cents per share, up from $798m, or 44 cents per share, a year ago. The group re-affirmed its earnings per share growth target for the full year of 13% to 14%.

Net revenues rose by 2% to $6.2 billion But PepsiCo said that on a currency neutral basis, revenue growth was 3%. Total volumes for Gatorade/Tropicana North America for the second quarter of 2002 increased by 5%, PepsiCo said, reflecting strong 12% volume growth for Gatorade. That growth was offset by a decline in Tropicana's volumes of 3%.

PepsiCo said that volumes of its total North American beverage businesses grew by more than 3% when calculated on a basis which would be comparable with its chief rival, Coca-Cola. The company recently announced the consolidation of all its North American beverage operations which in addition to other benefits, the group said, would make future comparison with Coca-Cola easier.

"We're pleased to have delivered very strong operating profit and earnings per share growth," said PepsiCo chairman and CEO, Steve Reinemund. "Our margins expanded as a result of synergies from our merger with Quaker, as well as strong productivity across our divisions. We increased our market share across our key US businesses, and our cash flow was extremely healthy."


Companies: Tropicana

Related Content

"We're living in a world of the unknown" - just-drinks speaks to Umi Patel, CMO for PepsiCo Beverage...

How did PepsiCo perform in 2019? - results data

How did PepsiCo perform in 2019? - results data...

"The US is the one market where we've not seen gin's momentum develop" - Diageo CEO Ivan Menezes tal...

How did Distell perform in fiscal-2019? - results data

How did Distell perform in fiscal-2019? - results data...

Oops! This article is copy protected.

Why can’t I copy the text on this page?

The ability to copy articles is specially reserved for people who are part of a group membership.

How do I become a group member?

To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..



Forgot your password?