“We are pleased with our results for the third quarter,” said Chairman and CEO Indra Nooyi. “We
continued to see very strong operating performance from our international divisions, propelled by
developing and emerging markets; Frito-Lay North America generated solid net revenue and
operating profit growth; and North America Beverages delivered another quarter of sequential
improvement in top-line performance. On the strength of our year-to-date results, we have revised
upward our full-year organic revenue growth target. Additionally, given the recent strengthening
in the U.S. dollar we have revised our full-year core earnings per share target to reflect our updated
expectation of an approximate 1 percentage point headwind from foreign exchange translation.”
http://www.pepsico.com/docs/album/q3-2018/q3-2018-earnings-release_dymcsw7geq8nbrwt.pdf
