By Dave Sebastian

 

PepsiCo Inc. said it raised its guidance for the full year given its performance so far this year, while it navigates a volatile supply-chain and cost environment.

The food-and-beverage company on Tuesday said it expects organic revenue to grow about 8% for fiscal 2021, compared with its prior guidance of 6%.

It sees core constant currency earnings per share growth of at least 11%, compared with its prior outlook of 11%. The company expects core EPS to grow at least 12%, compared with its previous guidance of 12%.

PepsiCo said it continues to expect cash returns to shareholders of about $5.9 billion, comprising about $5.8 billion in dividends and $106 million in share repurchases.

The company said it has completed its share-buyback activity, and that it doesn't expect to repurchase additional shares for the rest of the year.

PepsiCo said it continues to expect a core annual effective tax rate of about 21%.

Write to Dave Sebastian at dave.sebastian@wsj.com

 

(END) Dow Jones Newswires

October 05, 2021 06:44 ET (10:44 GMT)

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