Wednesday, PepsiAmericas Inc. (PAS) said its third-quarter net income attributable to the company declined to $63.5 million or $0.51 per share from $73.1 million or $0.58 per share in the prior year period.
Adjusted net income for the quarter fell to $72.2 million from $80.2 million in the year-ago period. Adjusted earnings per share for the quarter was $0.59 per share, down from $0.64 per share in the previous year.
On average, 8 analysts polled by Thomson Reuters expected the company to report earnings of $0.62 per share for the quarter.
Net sales for the quarter decreased to $1.13 billion from $1.32 billion in the comparable period. Six analysts estimated revenues of $1.22 billion for the quarter.
The company now expects full year adjusted earnings per share in the range of $1.83 - $1.87 compared with the prior range of $1.87 - $1.94. Ten analysts estimate earnings of $1.93 per share for the year.
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