Summary
PepsiCo, Inc. (PEP) filed an 8-K on February 13, 2009, to disclose its financial guidance for the full year 2009. The company projected mid- to high-single-digit growth in net revenue and core Earnings Per Share (EPS) on a constant currency basis. This guidance was provided during the company's fourth quarter and full-year earnings call, with further details available in their press release dated February 13, 2009. Due to the prevailing macroeconomic turbulence and currency market volatility, PepsiCo stated that it was not feasible to provide financial guidance beyond fiscal year 2009 at that time. Despite these uncertainties, the company expressed confidence in its underlying business operations and reiterated its long-term objective of achieving at least 10 percent core EPS growth.
Key Highlights
- 1PepsiCo provided full-year 2009 guidance for net revenue and core EPS.
- 2Projected mid- to high-single-digit growth for net revenue on a constant currency basis.
- 3Projected mid- to high-single-digit growth for core EPS on a constant currency basis.
- 4Guidance was issued during the Q4 and full-year 2008 earnings call on February 13, 2009.
- 5Company cited macroeconomic turbulence and currency volatility as reasons for not providing guidance beyond 2009.
- 6Reiterated confidence in the underlying business.
- 7Reaffirmed long-term performance goal of at least 10% core EPS growth.