PepsiCo Raises Fiscal 2021 Guidance
October 05 2021 - 6:59AM
Dow Jones News
By Dave Sebastian
PepsiCo Inc. said it raised its guidance for the full year given
its performance so far this year, while it navigates a volatile
supply-chain and cost environment.
The food-and-beverage company on Tuesday said it expects organic
revenue to grow about 8% for fiscal 2021, compared with its prior
guidance of 6%.
It sees core constant currency earnings per share growth of at
least 11%, compared with its prior outlook of 11%. The company
expects core EPS to grow at least 12%, compared with its previous
guidance of 12%.
PepsiCo said it continues to expect cash returns to shareholders
of about $5.9 billion, comprising about $5.8 billion in dividends
and $106 million in share repurchases.
The company said it has completed its share-buyback activity,
and that it doesn't expect to repurchase additional shares for the
rest of the year.
PepsiCo said it continues to expect a core annual effective tax
rate of about 21%.
Write to Dave Sebastian at dave.sebastian@wsj.com
(END) Dow Jones Newswires
October 05, 2021 06:44 ET (10:44 GMT)
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