PepsiCo is expected to reaffirm its full-year 2008 earnings guidance today (20 November).

Speaking at the Morgan Stanley Global Consumer and Retail Conference, PepsiCo reiterated its full-year core EPS guidance of between $3.67 and $3.68.

PepsiCo's guidance excludes commodity mark-to-market impact, productivity for growth costs and PepsiCo's share of The Pepsi Bottling Group's (PBG) restructuring initiative and impairment charge announced on 18 November.

PBG's restructuring initiative and impairment charge is expected to have a $0.07 per share adverse impact on PepsiCo's full-year reported EPS but will not impact the company's full-year 2008 core EPS results.