Somers, N.Y., Sep. 4 - The Pepsi Bottling Group, Inc. today announced that it is confirming its previously stated third quarter and full-year 2008 earnings per share guidance.
PBG expects 2008 comparable diluted earnings per share (EPS) of $2.30 to $2.38, top-line growth in the mid-single digits, comparable operating profit growth in the low-single digits, and operating free cash flow of about $620 million.
PBG also affirmed that it will generate diluted EPS of $1.02 to $1.06 in the third quarter, representing comparable growth of four to seven percent over the prior year. Top-line growth is expected to be up about three percent, driven by strong net revenue per case growth in each of the Company’s geographies. Worldwide volume in the quarter is expected to be down in the mid-single digits, reflecting soft economic conditions globally.
“PBG continues to successfully execute a strategy that is enabling us to generate solid financial results in a challenging global business environment. We remain confident that we’ll deliver on our earnings objectives for the third quarter and the full year,” said PBG President and Chief Executive Officer Eric Foss. “The steps we are taking to strengthen our global brand portfolio, improve our operational capabilities and capitalize on international growth opportunities will further differentiate PBG in the marketplace in a way that benefits each of our key stakeholders.”