Pepsi Bottling Beats, Raises Guidance

Shares of Pepsi Bottling Group [PBG] were last up 5.7% to $36.40 in thin pre-market trading, on news of a seven cent EPS beat and upward revised full year guidance exceeding analysts' estimates. PBG's Q2 net income rose 9.5% to $162m, or $0.70/share, on a 7% increase in sales to $3.36b. Analysts were expecting sales of $3.28b. Full year EPS is now projected between $2.02 - $2.07, up from its earlier guidance of $1.90 - $1.98. Analysts were expecting EPS in a range of $1.92 - $2.02, or $1.98 on average. PBG's president and CEO commented on highlights of the quarter, including 10% growth in operating income in the U.S. and Canada, as well as "outstanding" top-line growth in Russia. PBG fell 0.3% to $34.43 on Monday.

Sources: Press release, Bloomberg, Marketwatch
Commentary: Pepsi Is Losing Some Fizz • Super Fizzy Soda Stocks
Stocks/ETFs to watch: PBG. Competitors: COKE, CCE. ETFs: IYK, PRFG

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