UPDATE 1-PepsiAmericas Q3 misses Street, cuts FY EPS view

* Q3 adj EPS $0.59 vs est $0.62

* Cuts FY EPS view to $1.83-$1.87

* Net sales fall 15 pct to $1.13 bln

Oct 28 (Reuters) - Bottler PepsiAmericas Inc (PAS.N), which is being bought by PepsiCo Inc (PEP.N), posted a third-quarter profit that missed Wall Street estimates, hurt by foreign currency fluctuations and volume declines in the United States and Europe, and cut its full-year outlook.

The second-biggest Pepsi bottler after Pepsi Bottling Group Inc (PBG.N) now sees per-share adjusted earnings of $1.83 to $1.87 for 2009, down from its prior view of $1.87 to $1.94.

In the third quarter, the company earned $63.5 million, or 51 cents a share, compared with $73.1 million, or 58 cents a share, a year earlier.

Excluding items, the company earned 59 cents a share.

Net sales fell 15 percent to $1.13 billion. U.S. sales fell 3 percent to $854.6 million, reflecting a 9 percent fall in volumes.

Central and Eastern European sales fell 27 percent, hurt mainly by foreign currency fluctuations and difficult economic conditions in the company's emerging markets, particularly Romania.

Analysts were expecting the company to earn 62 cents a share, before items, on revenue of $1.22 billion, according to Thomson Reuters I/B/E/S.

Shares of the Minneapolis-based company were down a percent at $29 in pre-market trade Wednesday. They closed at $29.44 Tuesday on the New York Stock Exchange. (Reporting by Abhishek Takle in Bangalore; Editing by Ratul Ray Chaudhuri)