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PepsiCo Comfortable With Fourth-Quarter Projections

Author:

PepsiCo

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said it remains "comfortable" with fourth-quarter expectations and affirmed its 12% to 13% growth target for 2001.

According to

First Call/Thomson Financial

, 15 analysts produced a consensus earnings estimate of 38 cents a share, up from 33 cents a share a year ago. Wall Street expects 2001 earnings of $1.64 a share, compared with an estimate of $1.45 a share in 2000. The food and beverage giant, which is based in Purchase, N.Y., earned $1.24 a share in 1999.

Shares of PepsiCo, which also said today it was expanding its salty snack business in Egypt and Saudi Arabia, were lately up 75 cents, or 1.7%, to $46.06 in late trading on the Big Board.

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Goldman Sachs

said today it expects beverage companies, including

Coca-Cola

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, PepsiCo and

Anheuser-Busch

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, to meet fourth-quarter consensus estimates.