July 28, 2009 / 11:34 AM / 10 years ago

UPDATE 1-PepsiAmericas Q2 profit beats estimates, ups FY outlook

* Q2 adj EPS $0.74 vs est $0.68

* U.S. sales boost results

* Raises FY EPS outlook range by 4 cents

July 28 (Reuters) - Bottler PepsiAmericas Inc PAS.N posted a second-quarter profit that exceeded analysts’ estimates, driven by strength at its U.S. business, and it raised its outlook for the full year.

For 2009, PepsiAmericas, the second-biggest Pepsi bottler after Pepsi Bottling Group Inc PBG.N, now sees adjusted earnings of $1.87 to $1.94 a share, up 4 cents from its previous outlook range. Analysts were expecting a profit of $1.88 a share.

It continues to expect adjusted operating profit declines at the low end of its earlier forecast 4 percent to 5 percent.

For the second quarter, the company earned $61.4 million, or 50 cents a share, compared with $90.8 million, or 72 cents a share, year earlier.

Excluding certain items, it earned 74 cents a share,

Net sales fell 6 percent to $1.26 billion. U.S. sales rose 5 percent to $963.1 million.

Analysts were expecting earnings of 68 cents a share, before special items, on revenue of $1.29 billion, according to Reuters Estimates.

The company’s shares closed at $26.53 Monday on the New York Stock Exchange. (Reporting by Amitha Rajan in Bangalore; Editing by Mike Miller)

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