Thursday, October 13, 2011

Food and Beverage News: PepsiCo, Dole

PepsiCo (NYSE:PEP) reported third quarter earnings today.

Profits rose to $2 billion, or $1.25 per share, compared to $1.92 billion, or $1.19 per share, in last year's third quarter.

Adjusted earnings of $1.31 per share were just ahead of analyst expectations.

Revenue rose 13%, to $17.58 billion, also ahead of analyst forecasts.

And, late yesterday fresh fruit and vegetable producer Dole Food Company (NYSE:DOLE) said it has acquired all the capital stock of the parent to blueberry company SunnyRidge Farm.

SunnyRidge also sources and sells blackberries, strawberries and raspberries.

Dole said SunnyRidge's premium blueberry and blackberry operations are an excellent strategic complement to Dole's existing fresh and frozen berry operations, both of which have previously focused on strawberries.

For MarketNewsVideo.com, I'm Kristin Bianco.

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