Higher prices, snack sales propel PepsiCo net

by Staff
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PURCHASE, N.Y. — Income for PepsiCo, Inc. was up 4% during the third quarter as the result of higher prices and increased snack sales.

For the quarter ended Sept. 3, the company had an income of $2,000 million, equal to $1.25 per share on the common stock, which compared with income of $1,922 million, or $1.19 per share, during the same quarter of the previous year. Revenue for the quarter was $17,582 million, up 13% from $15,514 million during the same quarter of the previous year.

“We’re focused on growing our business by providing consumers around the globe with great-tasting products they love at a good value, and we believe this quarter’s performance is a good indication that our efforts are working,” said Indra Nooyi, chairman and chief executive officer. “We had strong revenue growth across our product portfolio and across our key geographic markets. We were able to achieve pricing to partially offset commodity cost inflation and at the same time stimulate consumer demand for our products. The result in the quarter was well-balanced top-line and bottom-line growth.”

During the quarter the Frito-Lay North America segment had an operating profit of $918 million, up 6% from $866 million during the same quarter of the previous year. The segment had revenue of $3,173 million, up 4% from $3,050 million during the same quarter of the previous year.

The Quaker Foods North America segment had an operating profit of $177 million in the quarter, up 6% from $167 million during the same quarter of the previous year. Revenue for the quarter was $614 million, up 2% from $601 million during the same quarter of the previous year.

The PepsiCo Americas Beverages segment had an operating profit of $992 million, down 3% from $1,017 million during the same quarter of the previous year. The segment had revenue of $5,947 million, up 3% from $5,792 million during the same quarter of the previous year.

For the nine months ended Sept. 3, the company as a whole had income of $5,028 million, or $3.14 per share, up 2% from $4,955 million, or $3.06 per share, during the same period of the previous year. Revenue for the period was $46,346 million, up 17% from $39,683 million during the same period of the previous year.

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