Pepsi Bottling Group income up 10% during quarter
October 06, 2009
by FoodBusinessNews.net Staff
SOMERS, N.Y. — Income for the Pepsi Bottling Group, Inc. was up 10% during the third quarter.
For the quarter ended Sept. 5, the company had an income of $254 million, equal to $1.18 per share on the common stock, which compared with an income of $231 million, equal to $1.09 per share, during the same quarter of the previous year. Net revenue for the quarter was $3,633 million, down 5% from $3,814 million during the same quarter of the previous year.
"Our third quarter results reflect the continued success of our three strategic platforms for growth," said Eric Foss, chairman and chief executive officer. "The work we’ve done to strengthen and reposition our brand portfolio, transform our performance through operational excellence and capitalize on geographic growth opportunities drove operative profit and topline growth across all of our reporting segments in the quarter. These factors, combined with easing commodity costs and diminished foreign currency headwinds, are driving sequential improvement in our performance versus the first half of 2009."
For the nine months ended Sept. 5, the company had an income of $522 million, equal to $2.44 per share, up 21% from $433 million, equal to $1.99 per share, during the same period of the previous year. Revenue for the nine months was $9,414 million, down 6% from $9,987 million during the same period of the previous year.
The company is expecting full-year comparable diluted earnings per share guidance of $2.30 to $2.40.