Pepsi reported 4Q17 earnings in line with estimates of organic sales +2.3% and EPS growth of +8%. Management provided its initial 2018 guidance which is a bit light vs. expectations, but certainly achievable for Pepsi. We will look for a positive margin progression in the coming quarters as new products come to the market. Currently the stock is supported by an increased dividend and new repurchase program. Price target unchanged at this time. Continue reading “Pepsi 4Q17 earnings: results in line, 2018 guidance is conservative”