On a GAAP basis, EPS for the quarter totaled $1.23, which excludes a $0.01 charge on mark-to-market hedges and includes a $0.01 per share impact from incremental investments.
The company again reiterated its full-year 2013 EPS guidance to 7% above the $4.10 the firm earned in 2012. PepsiCo also expects a 2% negative impact on earnings due to currency translation effects.
The company’s CEO said:
PepsiCo has delivered double-digit core constant currency earnings per share growth year to date, despite ongoing macro-economic volatility in many markets. We’re able to perform well in these conditions because our brands are strong, our product portfolio is on-trend, and our geographic footprint is broad and diverse. Importantly, we have continued to make marketplace investments to strengthen our foundation for sustainable growth.
In its three North American divisions, revenue rose 5% in the Frito Lay group, dropped 2% in the Quaker Foods group and fell 2% in the Americas Beverages group. Revenues in Europe rose 3%, and they fell 3% in the Asia, Middle East and Africa region. Overall revenues rose 1.5% year-over-year.
PepsiCo shares were up about 0.7% in premarket trading, at $81.20 in a 52-week range is $67.39 to $87.06. Thomson Reuters had a consensus analyst price target of around $90.70 before this report.
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