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UPDATE: PepsiCo, Inc. (PEP) Tops Q1 EPS by 2c, Sees FY12 EPS Down 5%

April 26, 2012 7:04 AM
(Updated - April 26, 2012 7:13 AM EDT)

PepsiCo, Inc. (NYSE: PEP) reported Q1 EPS of $0.69, $0.02 better than the analyst estimate of $0.67. Revenue for the quarter came in at $12.43 billion versus the consensus estimate of $12.36 billion.

Consistent with its previous guidance for 2012, the company expects a decline in core constant currency EPS of approximately 5 percent from its fiscal 2011 core EPS of $4.40.

The company is targeting approximately $8 billion in cash flow from operating activities and more than $6 billion in management operating cash flow (excluding certain items) in 2012, which includes the favorable impact of an expected 10 percent reduction in capital spending and improved working capital efficiency. The company also made a pretax discretionary pension and retiree medical contribution of $1 billion in the first quarter of 2012.

Reflecting its commitment to return capital to shareholders, the company anticipates more than $3 billion in share repurchases for 2012, and expects to pay $3.3 billion in dividends. The dividend reflects a 4 percent dividend per share increase effective with the dividend payable in June 2012, making 2012 the company's 40th consecutive year of dividend per share growth.

For earnings history and earnings-related data on PepsiCo, Inc. (PEP) click here.


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