- Execs with PepsiCo (PEP +0.3%) say they expect the company to squeeze out close to 30 bps of margins gains a year on productivity improvements. When combined with estimates for mid-single digit top-line growth, EPS is forecast to move along briskly.
- There is a "reasonable expectation" that buybacks will continue beyond 2014 at a similar pace.
- Increased advertising at Frito-Lay North America should pay off as the brands entrench themselves.
- CEO Indra Nooyi take on a question on CEO succession by noting that a talent model is in place to ensure any emergency contingency is covered, although she makes it clear her goal is to stay on for a while. "I am still in the chair," declares Noori.
- Not even a hint that PepsiCo is the rumored buyer of shares of SodaSteam (SODA +1%).
- Earnings call webcast