(Reuters) - Pepsi Bottling Group PBG.N raised its second-quarter earnings view by 5 cents, helped by a growing demand for soft drinks in the US and lower commodity prices.
“Improving fundamentals in our U.S. and Canada business, coupled with the success of our global pricing strategy, are producing solid results,” Chief Executive Eric Foss said in a statement.
For the second quarter, the company now expects to earn between 70 cents a share and 74 cents a share.
Pepsi Bottling also raised its full-year earnings view to $2.30 to $2.40 a share, up 10 cents from its prior view.
“We’re beginning to see favorable trends within our sector as well as in the commodity and foreign currency markets,” Foss said in a statement.
Shares of the biggest Pepsi bottler, which is caught in a takeover battle with PepsiCo Inc (PEP.N), had closed at $33.21 Monday on the New York Stock Exchange.
Reporting by Nivedita Bhattacharjee in Bangalore; Editing by Jarshad Kakkrakandy