HALISTER: PepsiCo 4Q Core EPS Matches Est., Rev. Beats; Boosts Div.

PepsiCo 4Q Core EPS Matches Est., Rev. Beats; Boosts Div.

(Bloomberg) -- PepsiCo sees 2016 core EPS $4.66, may not compare to est. $4.76.
  • Sees yr net capex ~$3b, over $10b in cash flow from oper. activities, more than $7b in FCF
  • Boosts annualized div. to $3.01/shr from $2.81, effective with June div. payment; beginning with June payment, sees returning ~$7b to shareholders through divs., shr repurchases
  • 4Q core EPS $1.06 vs est. $1.06 (range $1.03-$1.10); core constant currency EPS growth +3%
  • 4Q rev. $18.6b vs est. $18.5b (range $17.8b-$18.9b)
  • Total co. organic vol. growth +1%
  • Organic rev. growth +4% vs +7.4% q/q
  • Segment organic rev. results:
    • FLNA +3%
    • QFNA +1%
    • NAB +3%
    • LatinAmer +8%
    • ESSA +3.5%
    • AMENA +4%
  • Core gross margin expanded 165bps; core op. margin decreased 20bps, hurt by 85bp increase in advertising, marketing expense as percent of sales
  • 4Q core effective tax rate 22.5% vs 25.5% y/y
  • Call 8am 800-540-4194 pw TOSTITOS
  • See PREVIEW PEPSI 4Q: Frito-Lay Trends, 4Q Vol., Emerging Mkts, FX
  • NOTE: Feb. 9, Coca-Cola 4Q EPS, Rev. Beat Ests.; Commits to $3b Program
Statement: NSN O2DS063MSFLS
Alert: HALISTER
Source: BFW (Bloomberg First Word)

Tickers
PEP US (PepsiCo Inc)
KO US (Coca-Cola Co/The)

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