Photo: Ashley Lutz
Pepsi announced earnings of $1.20 per share, higher than consensus estimates of $1.16.Revenues, however, came in at $16.65 billion, below estimates of $16.9 billion.
Here are the highlights, from the press release:
- Third quarter reported EPS of $1.21 and core EPS of $1.20
- Company reaffirms 2012 core constant currency net revenue and core constant currency EPS guidance
- Reflecting the impact of previously announced structural changes and negative foreign exchange translation, reported net revenue declined 5 per cent, in line with expectations. Excluding these impacts, organic net revenue grew 5 per cent
- Company expects to return more than $6 billion to shareholders through dividends and share repurchases in 2012
- Company expects to deliver more than $1 billion in productivity savings in 2012 and $3 billion in savings by 2015