PepsiCo Raises Full-Year Guidance, Sees Organic Revenue Growth of 6%
July 13 2021 - 6:47AM
Dow Jones News
By Dave Sebastian
PepsiCo Inc. said it raised its full-year guidance as it posted
higher profit and sales for the recent quarter.
The food-and-beverage company on Tuesday said it expects organic
revenue to grow 6%, compared with its prior guidance of
mid-single-digit growth. It sees core constant currency per-share
earnings growing 11%, compared with its prior outlook of
high-single-digit growth. PepsiCo expects 2021 adjusted earnings of
$6.20 a share.
The company said it is extending its target to have at least $1
billion in productivity savings through 2026. It said it expects to
incur pretax charges of about $3.15 billion, including cash
expenditures of about $2.4 billion, compared with its prior
estimate of pretax charges of about $2.5 billion, including cash
expenditures of about $1.6 billion.
The company continues to expect a core annual effective tax rate
of about 21% and csah returns to shareholders of about $5.9 billion
for 2021.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
July 13, 2021 06:43 ET (10:43 GMT)
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