KFDA - NewsChannel 10 / Amarillo News, Weather, SportsPepsiAmericas lowers full-year adj. profit outlook
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MINNEAPOLIS (AP) - PepsiAmericas Inc. lowered its full-year adjusted profit outlook Wednesday, saying it expects factors pressuring its business - such as the recession - to continue.
The second-largest Pepsi bottler now anticipates adjusted earnings of $1.83 to $1.87 per share. In July, after its second-quarter results, the company boosted its guidance to $1.87 to $1.94 a share.
Analysts polled by Thomson Reuters, whose estimates normally exclude one-time items, predict a profit of $1.93 per share.
PepsiAmericas also said Wednesday that its third-quarter profit dropped 14.1 percent and missed analyst expectations.
The company's shares rose 33 cents to $23.10 in premarket trading.
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