PepsiCo ‘pleased’ with Q2 performance
PURCHASE, N.Y. — PepsiCo reported net revenue of $16.8 billion for the second quarter of 2013, a 2% increase from $16.4 billion for the same quarter last year.
Structural changes, principally the refranchising of the company's beverage operations in Vietnam and China, negatively impacted reported net revenue performance by nearly 1% and foreign exchange translation had a 1.5% unfavorable impact in the quarter. Adjusted to exclude the impact of foreign currency translation and structural changes, revenue grew 4.2%.
"We're pleased with our performance in the second quarter and for the first half of 2013. PepsiCo delivered another quarter of mid-single-digit organic revenue growth, driven by our balanced food and beverage product portfolio and global geographic footprint,” said chairman and CEO Indra Nooyi. “We continue to invest in advertising and marketing, innovation, and other marketplace initiatives to sustain our organic revenue growth and we are driving a robust productivity agenda that serves as a funding source for these investments.”
PepsiCo Americas Foods net revenue increased 5% in the quarter driven by mid-single-digit net revenue growth at Frito-Lay North America and high-single-digit net revenue growth in Latin America Foods.
PepsiCo Americas Beverages core constant currency operating profit grew 4% in the quarter reflecting 3% points of effective net pricing and productivity gains. Reported operating profit was up 5%.
In the U.S., the company's largest market, held value market share in salty snacks and improved both volume and value market share performance sequentially in liquid refreshment beverages.