Frito-Lay boosts PepsiCo Americas Foods
PURCHASE, N.Y. — Continued strength in the Frito-Lay North America and Latin America Foods units helped drive a 9% increase in earning within the PepsiCo Americas Foods unit of PepsiCo, Inc. in the third quarter ended Sept. 7. Operating profit for PepsiCo Americas Foods grew to $1,409 million from $1,290 million during the same quarter last year. Revenue during the quarter climbed 5% to $6,077 million from $5,767 million.
Organic revenue gains, productivity initiatives and lower commodity costs benefited the Frito-Lay North America segment, which had an operating profit of $977 million, up 7% from $917 million during the same quarter of the previous year. The segment had revenue of $3,424 million, up 5% from $3,269 million.
Operating profit for the Quaker Foods North America segment was $137 million, down 11% from $154 million during the same quarter of the previous year. The loss reflected operating results of a dairy joint venture, unfavorable product mix and commodity cost inflation. Revenue for the segment was $604 million, down 2% from $615 million.
Latin America Foods operating profit was $295 million in the third quarter of fiscal 2013, up 35% from $219 million a year ago. Productivity gains in the segment helped offset commodity cost inflation and increased advertising and marketing expense. Net sales rose 9% to $2,049 million from $1,883 million.
For the quarter ended Sept. 7, net income attributable to PepsiCo was $1,913 million, equal to $1.23 per share on the common stock, up 1% from $1,902 million, or $1.21 per share, during the prior year period. Net revenue for the quarter rose 1.5% to $16,909 million from $16,652 million during the same period last year.