Halister News

(Bloomberg) -- PepsiCo forecasts yr core EPS $4.71, had seen $4.66 (first given Feb. 11), vs est. $4.72.

• Still sees ~4% yr organic rev. growth, excluding impact of 53rd week, structural changes
• Still sees yr net capex ~$3b, over $10b in cash flow from operating activities, >$7b in FCF (ex. certain items)
  • Sees returning ~$7b to shareholders through $4b in divs., $3b in buybacks in 2016
• 2Q core EPS $1.35 vs est. $1.29 (range $1.25-$1.34)
• 2Q net rev. $15.4b vs est. $15.4b (range $15.2b-$15.61b); FX had 4% unfavorable impact on reported rev., Venezuela deconsolidation hurt by 2.5ppts
• 2Q organic rev. growth up 3.3%; est. +3.4% (avg of 3)
• 2Q core gross margin expanded 75bps; core operating margin increased 80bps
• 2Q global volume food/snacks +2.5%, bev. +2%
• Segment organic rev./organic vol. results:
  • FLNA +4%/+2%
  • QFNA +3%/+3%
  • NAB +1%/-1%
  • LatinAmer +9%/snacks vol. +2%, bev. -2%
  • ESSA +3%/snacks +3%, bev. +4%
  • AMENA +4%/snacks +4%, bev. +5%
• Call 8am, 800-540-4194, pw 28537019
• See PREVIEW PEPSICO 2Q: Organic Sales, Volume, FX, Productivity

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