This post describes our model of PepsiCo's (NYSE: PEP) Income Statement for the 12-week first quarter of fiscal 2010, which ended on 20 March.
The intent of our look-ahead exercises is to produce a baseline for identifying surprises, positive or negative, in the reported data. GCFR estimates are derived from guidance provided by company management, when available, and the company's historical financial results.
In this case, the model is especially uncertain because PepsiCo is in a state of transition, as described below.
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