PepsiCo Earnings Meet Estimates

The snack and beverage maker reported fourth-quarter earnings of 88 cents a share, which was in line with internal estimates and analyst forecasts.
Author:
Publish date:

PepsiCo

(PEP) - Get Report

reported fourth-quarter adjusted earnings in line with its guidance and the forecasts of analysts as the snack and beverage company saw revenue rise and it kept costs in check.

Earnings in the fourth quarter were $719 million, or 46 cents a share, compared with year-earlier earnings of $1.3 million, or 77 cents a share. Excluding items, earnings in the latest quarter were 88 cents a share, in line with the estimates of analysts surveyed by Thomson Reuters.

Revenue in the quarter rose 3% to $12.73 billion from $12.35 billion a year earlier.

Foreign exchange adversely impacted net revenue growth in the quarter by 5.5 percentage points and core earnings by 5 cents a share, PepsiCo said in a statement Friday.

PepsiCo said it expects net revenue and core per-share earnings in 2009 to increase mid- to high-single digits on a constant currency basis. The company sees foreign exchange, at current spot rates, negatively impacting constant-currency core per-share earnings by about eight percentage points.

Rival

Coca-Cola

(KO) - Get Report

on Thursday reported fourth-quarter profit that topped the estimates of analysts as overseas sales rose.