PepsiCo Profit Doubles |
| Wall Street Journal - Feb 11, 2010 |
PepsiCo Inc.'s fourth-quarter earnings nearly doubled amid prior-year commodity hedging charges, and the soda maker said it will reap larger cost savings from buying its bottlers than previously expected.
The company's deals to buy bottlers Pepsi Americas Inc. and Pepsi Bottling Group Inc. are expected to close at the end of February and are being watched closely because they will push broad changes in how the company sells its beverages in the U.S. PepsiCo said Thursday that it expects pretax synergies, or cost savings from the deals, to hit $400 million by 2012, higher than its previous estimate of $300 million.
The soft-drink and snacks company on Thursday also announced plans to resume share buybacks and said its North America beverages business, which has been a weak spot for several quarters, was starting to show improvement amid market-share gains for brands such as SoBe Lifewater and Gatorade. Sports drink Gatorade suffered as consumers pulled back during the recession.
Read Full Article from Wall Street Journal
- Posted: 2010-02-11 11:19:37
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