PepsiCo Inc.PEP -1.08%’s revenue and
profits could take a roughly 2% hit if it starts using a new exchange rate
mandated by the Venezuelan government, said Hugh Johnston, the company’s
finance chief on Thursday. The snack and beverage company announced second-quarter
earnings Thursday. Mr. Johnston said that a stronger U.S. dollar could cut
third-quarter revenue growth by 11% and hurt earnings per share growth by 12%,
at current rates. For a free daily roundup of corporate finance news delivered
to your inbox, sign up here to get the Morning Ledger. More…
Monday, July 13, 2015
Venezuela Could Drag Down Pepsi Q3 Results
PepsiCo Inc.PEP -1.08%’s revenue and
profits could take a roughly 2% hit if it starts using a new exchange rate
mandated by the Venezuelan government, said Hugh Johnston, the company’s
finance chief on Thursday. The snack and beverage company announced second-quarter
earnings Thursday. Mr. Johnston said that a stronger U.S. dollar could cut
third-quarter revenue growth by 11% and hurt earnings per share growth by 12%,
at current rates. For a free daily roundup of corporate finance news delivered
to your inbox, sign up here to get the Morning Ledger. More…
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