PepsiCo Meets Earnings Forecasts for Quarter

PepsiCo Inc. posted a 15% rise in fiscal fourth-quarter earnings to $567 million, or 38 cents a share, matching forecasts, on double-digit operating profit growth across its divisions. PepsiCo, whose products include Pepsi and other soft drinks, Doritos snack chips and Tropicana juices, said net sales rose 7.7% to $6.12 billion. Sales growth was led by a 15% increase in North American beverage business, where profit grew 13%. Its international beverage business had a loss of $7 million, as sales declined 4%. Operating profit at the Frito-Lay snacks division rose 10% in North America and 11% overseas. At the Tropicana juice division, profit grew 16%. PepsiCo’s most recent quarter was a week longer than the one a year ago, adding $294 million in sales and $44 million, or 3 cents, to net income. For 2000, PepsiCo’s net income grew 16% to $2.14 billion, or $1.45 a share, on an 8% rise in sales to $20.14 billion. PepsiCo closed off 2 cents at $44.97 on the NYSE.