SOMERS, N.Y. The Pepsi Bottling Group reported a net income spike of 21%, compared with the year-ago period.
Despite a difficult economy, PBG reported second-quarter earnings of $211 million, or 96 cents per share. Its net income during second quarter 2008 was $174 million, or 78 cents per diluted share.
“PBG delivered a strong set of results during the second quarter. Our ability to execute an effective global pricing strategy, achieve robust cost and productivity savings and deliver solid execution at the point of sale has fueled our success through the first half of 2009. We’re also benefiting from improved carbonated soft drink trends in the United States, as well as encouraging developments in the commodity and foreign currency markets,” said PBG chairman and CEO Eric Foss.
“As we look towards the future, we continue to focus on our three strategic priorities for growth,” Foss continued. “We’ll strengthen and reposition our brand portfolio, transform our performance through operational excellence and pursue geographic growth opportunities. We believe that our work in these three areas will unlock significant new growth opportunities and position us well for long-term success.” Last month, PBG, the largest bottler of PepsiCo beverages, raised its financial outlook for its second quarter and full-year forecast.