Accentuating the caveat emptor perspective with critical commentary on financial disclosure. I adopt a skeptical persona and look for chinks in the teflon coating of financial disclosure. My job is to identify financial warts. Perhaps a Black Swan. Disclosure: I do not hold positions in stocks mentioned for three trading days before or after blog post.
Tuesday, October 03, 2006
Pepsi Mexican Results Slow
Pepsi Bottling Group (PBG) announced balanced top line growth and solid Q3 earnings. It appears that Mexico is stalling following rapid growth in recent past. Q3 Mexican operating income grew only 5%. Whereas year to date Mexican operating income grew at 43%. PBG reports actual decreases in carbonated case sales and jug water within Mexico. This may represent a soft underbelly in PBG. Europe cannot carry everything and US/Canada while improving still faces intense competition.