PepsiAmericas Lowers Full-year Adj. Profit Outlook
MINNEAPOLIS (AP) — PepsiAmericas Inc. lowered its full-year adjusted profit outlook Wednesday, saying it expects factors pressuring its business — such as the recession — to continue.
The second-largest Pepsi bottler now anticipates adjusted earnings of $1.83 to $1.87 per share. In July, after its second-quarter results, the company boosted its guidance to $1.87 to $1.94 a share. Analysts polled by Thomson Reuters, whose estimates normally exclude one-time items, predict a profit of $1.93 per share. PepsiAmericas also said Wednesday that its third-quarter profit dropped 14.1 percent and missed analyst expectations. The company's shares rose 33 cents to $23.10 in premarket trading.>To order reprints of this article, click here: ReprintsTheStreet Premium Services For Personal Service: 877-471-2967
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