UPDATE 2-Forex pressures weigh on PepsiAmericas Q4, misses St

* Q4 adj EPS $0.16 vs est $0.33

* Q4 revenue slips 17 pct, misses Street view

* Operating income halves

* Shares down 2 pct in premarket trade
(Adds details, background)

Feb 12 (BestGrowthStock) – Bottler PepsiAmericas Inc (PAS.N: ), which
is being bought by PepsiCo Inc (PEP.N: ), posted a
lower-than-expected quarterly profit, hurt by forex pressures
and charges related to restructuring its Caribbean business.

The second-biggest Pepsi bottler after Pepsi Bottling Group
Inc (PBG.N: ) said the restructuring had negatively impacted
worldwide volumes and revenue during the quarter.

PepsiAmericas said it recorded a total of $12.1 million in
severance and impairment charges related to intangible and
fixed assets in the Caribbean.

The bottler had combined most of its Caribbean business
with Central America Beverage Corp (CABCORP) in May last year
as part of a joint venture between the two companies.

The JV merged PepsiAmericas’ Caribbean business, excluding
the Bahamas, with CABCORP’s Central American operations,
including Guatemala, Honduras, El Salvador and Nicaragua.

Earlier this month, the company said it will not conduct a
conference call to discuss quarterly results, in view of its
pending merger with PepsiCo Inc (PEP.N: ).


PepsiCo, the world’s second-largest soft drink maker after
Coca Cola Co (KO.N: ), had agreed to buy bottlers Pepsi Bottling
Group and PepsiAmericas in a sweetened $7.8 billion deal in
August last year. [ID:nN041054]

The maker of Pepsi-Cola drinks and Frito-Lay snacks
reported fourth-quarter results on Thursday and said it expects
the deal to be completed by the end of this month.

On Friday, PepsiAmericas reported quarterly earnings of 28
cents a share, down from 30 cents a share, a year earlier.

Excluding items, the bottler earned 16 cents a share.

Operating income more than halved to $42.5 million, while
net sales slipped 17 percent to $968.3 million.

Analysts were looking for earnings of 33 cents a share, on
revenue of $1.08 billion, according to Thomson Reuters
Shares of the Minneapolis-based company, which have risen 68
percent in the last one year, fell 2 percent to $28.87 in
trading before the bell. They had closed at $29.57 Thursday on
the New York Stock Exchange.

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(Reporting by Shradhha Sharma in Bangalore; Editing by
Aradhana Aravindan)

UPDATE 2-Forex pressures weigh on PepsiAmericas Q4, misses St