Pepsi Expects 10 to 12% Growth In Core EPS For 2010

PepsiCo PEP Chief Financial Officer Hugh Johnston said: "We are benefiting from both the acquisition of our anchor bottlers earlier this year and from improving trends across our global business. As planned, we have stepped up incremental investments around the world to capitalize on untapped consumer demand, including investments in marketplace infrastructure to support both our expanding China beverage business and innovation across our global snacks portfolio. We remain confident in our ability to meet our full-year core constant currency EPS target of 11 to 13 percent." For fiscal 2010, the company is targeting an 11 to 13 percent growth rate for core constant currency EPS from its fiscal 2009 core EPS of $3.71. Based on current spot rates, foreign exchange translation would represent a one percentage point unfavorable impact on the company's full-year, core EPS. As a result, growth in core EPS for the year is expected to be in the 10 to 12 percent range.