Pepsi Bottling Group raises Q2 outlook
SOMERS, N.Y. The Pepsi Bottling Group announced Tuesday that it has raised its second quarter and 2009 earnings guidance. The company now expects to deliver comparable diluted earnings per share of $0.70 to $0.74 in the second quarter, a $0.05 increase from its previous guidance range.
For the full-year, PBG now expects comparable diluted EPS in the range of $2.30 to $2.40, up 10 cents from the company’s previous forecast. The company also raised its full-year operating free cash flow guidance by $25 million to $525 million.
Among the key drivers of the company’s revised outlook are: improved carbonated soft drink performance in the United States; decreased volatility in foreign currencies; and continued commodity cost deflation.
“PBG’s strong start to the year has continued in the second quarter. Improving fundamentals in our U.S. and Canada business, coupled with the success of our global pricing strategy, are producing solid results. We’re also delivering significant cost and productivity savings and superior execution at the point of sale. At the same time, we’re beginning to see favorable trends within our sector as well as in the commodity and foreign currency markets. As a result, our performance continues to exceed our expectations and we are raising our guidance,” said PBG chairman and CEO Eric Foss.
Last week, PBG announced the re-election 10 directors of its board.
Teatime in America
DALLAS Dean Foods kicks off summer with the introduction of the all natural Swiss Premium Tea.
The new tea is a healthy alternative to sugary sodas and juices because it lacks high fructose corn syrup, artificial flavors and preservatives. It supports overall good health and is a natural source of antioxidants that may help increase the body’s protection against free radical damage.
According to Rick Zuroweste, SVP for Dean Foods, owners of the Swiss Premium Tea brand, “Tea consumption has doubled nationally over the past decade. For these reasons, we see tremendous growth and refreshment opportunities by introducing the Swiss Premium Tea brand to a national audience.”
Hawaiian Springs expands to U.S.
COSTA MESA, Calif. Hawaiian Springs LLC, an esteemed worldwide natural water brand, announced their expansion to the United States.
The natural artesian water comes from the Keau’au waters, deemed some of the purest waters in the world, according to the U.S. Geological Survey.
“We believe Hawaiian Springs will be incredibly well received by discerning, health-conscious consumers throughout the U.S.,” said Rick Hadley, chairman and CEO of Hawaiian Springs. “While other processed waters can leach minerals and nutrients from the body, Hawaiian Springs natural water is filtered through 13 thousand feet of volcanic rock and is among the purest in the world.”
Hawaiian Springs water can be found at chief food retail stores including Whole Foods and Mother’s Market, and will soon be available at other stores throughout the United States.