The Rising Influence of Rising Affluence

[DewDiligence]

PEP reiterates 2012 “core” (non-GAAP) EPS of $4.05:

http://www.sec.gov/Archives/edgar/data/77476/000119312512275448/d365941d8k.htm

The $4.05 figure is not stated directly, but it is calculated by noting that PEP expects a 5% reduction from 2011’s core EPS of $4.40 on a constant-currency basis and a further 3% hit from currency relative to 2011. I.e., $4.40(0.95)(0.97) = $4.05.

PEP also reiterated its commitment to long-term high-single-digit core constant-currency EPS growth, which was first given in Feb 2012 (#msg-72324630).