PepsiAmericas lowers full-year adj. profit outlook

PepsiAmericas reduces full-year adjusted earnings forecast on weak expectations

• On 9:03 am EDT, Wednesday October 28, 2009

MINNEAPOLIS (AP) -- PepsiAmericas Inc. lowered its full-year adjusted profit outlook Wednesday, saying it expects factors pressuring its business -- such as the recession -- to continue.

The second-largest Pepsi bottler now anticipates adjusted earnings of $1.83 to $1.87 per share. In July, after its second-quarter results, the company boosted its guidance to $1.87 to $1.94 a share.

Analysts polled by Thomson Reuters, whose estimates normally exclude one-time items, predict a profit of $1.93 per share.

PepsiAmericas also said Wednesday that its third-quarter profit dropped 14.1 percent and missed analyst expectations.

The company's shares rose 33 cents to $23.10 in premarket trading.