Pepsi Bottling Group (PBG)

The Pepsi Bottling Group Reports Fourth Quarter and Full-Year 2009 Results

• 2009 Comparable Diluted EPS of $2.55; Reported Diluted EPS of $2.77
• Company Achieves $350 Million in Cost and Productivity Savings
• Operating Free Cash Flow of $578 Million for Full-Year

SOMERS, N.Y.--(BUSINESS WIRE)--February 2, 2010--The Pepsi Bottling Group, Inc. (NYSE: PBG) today reported its financial results for the fourth quarter and full-year 2009. For the full year, PBG reported net income of $612 million, or diluted earnings per share (EPS) of $2.77. PBG delivered comparable diluted EPS of $2.55, exceeding the Company’s previous guidance.

PBG reported net income of $90 million in the fourth quarter of 2009, or $0.40 per diluted share. Comparable diluted EPS was $0.59 in the quarter.

“At the beginning of 2009, we expressed optimism that PBG would continue to perform well in the marketplace despite ongoing macroeconomic challenges. Our ability to achieve our full year targets demonstrates that our optimism was justified, as we executed our game plan effectively and delivered a strong set of financial results,” said PBG Chairman and Chief Executive Officer Eric Foss.

“Progress in several key areas helped contribute to our success throughout the year,” Foss added. “We continued to strengthen our brand portfolio. We maintained a relentless focus on operational excellence. And we enhanced our geographic portfolio in the U.S. and abroad. I’m proud of our employees, each of whom played a role in achieving our results, and I remain very optimistic about the future of the Pepsi system.”