HALISTER: Pepsi Raises Yr Core Constant FX View; 3Q Core EPS, Rev. Beat

Pepsi Raises Yr Core Constant FX View; 3Q Core EPS, Rev. Beat

(Bloomberg) -- Pepsi 3Q adj. core EPS $1.40, est. $1.32 (range $1.27-$1.35)
  • 3Q rev. $16.0b, est. $15.84b (range $15.47b-$16.17b)
    • Organic rev. growth 4.2% vs +3.3% q/q
  • 3Q global volume food/snacks +3%, bev. +2%
  • Segment organic rev./organic vol. results:
    • FLNA +3.5%/+2%
    • QFNA -2%/-2%
    • NAB +3%/+2%
    • LatinAmer +10%/snacks vol. +3.5%, bev. -3%
    • ESSA +5%/snacks +3%, bev. +2%
    • AMENA +5%/snacks +10%, bev. +5%
  • 2016 Guidance:
    • Raises core adj EPS view to $4.78 vs $4.71 (July 7)
    • Reaffirms:
      • Net capex ~$3b est. $2.85b
      • FCF (ex. certain items) more than $7b, est. $7.58b (range $7.03b-$8.09b)
      • ~4% organic rev. growth for year, excluding impact of 53rd week, structural changes
  • PEP 3Q PREVIEW: Currency Impact May Outweigh Sales Growth
  • Call 8am, 800-540-4194 pw 87428416, DEW SHINE
    • NOTE: KO reports pre-market Oct. 26
Statement: NSN OE9H683MMTC0 DATA
  • PEP implied 1-day share move following earnings 1.8%: Bloomberg data
  • PEP has 16 buys, 11 holds, avg PT $118: Bloomberg data
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
PEP US (PepsiCo Inc)

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