PepsiCo Americas Foods profit rises 6% in '13

by Eric Schroeder
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PURCHASE, N.Y. — Solid contribution from Frito-Lay North America helped offset sluggish results within Quaker Foods North America, leading to a 6% increase in earnings within the PepsiCo Americas Foods unit of PepsiCo, Inc. in the fiscal year ended Dec. 28, 2013. Operating profit for PepsiCo Americas Foods grew to $5,736 million from $5,400 million during fiscal 2012. Revenue during fiscal 2013 climbed 5% to $25,088 million from $23,990 million.

Organic revenue gains, productivity initiatives and lower commodity costs benefited the Frito-Lay North America segment, which had an operating profit of $3,877 million, up 6% from $3,646 million during fiscal 2012. The segment had revenue of $14,126 million, up 4% from $13,574 million.

Operating profit for the Quaker Foods North America segment was $617 million, down 11% from $695 million during fiscal 2012. The loss reflected operating results of the Muller Quaker Dairy joint venture and unfavorable product mix. Revenue for the segment was $2,612 million, down 1% from $2,636 million.

Latin America Foods operating profit was $1,242 million in fiscal 2013, up 17% from $1,059 million a year ago. Net sales rose 7% to $8,350 million from $7,780 million.

For the year ended Dec. 28, net income attributable to PepsiCo was $6,740 million, equal to $4.32 per share on the common stock, up 9% from $6,178 million, or $3.92 per share, during the prior year. Net revenue for the year rose 1% to $66,415 million from $65,492 million during fiscal 2012.
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