PepsiCo sees FY18 core EPS $5.70, consensus $5.67
For 2018, the Company expects: Full-year organic revenue growth to be at least in line with the 2017 growth rate. Based on current market consensus rates, foreign exchange translation to have a neutral impact on revenue and earnings per share. A core effective tax rate in the "low 20s," reflecting benefits of the TCJ Act. The benefit of the TCJ Act to be substantially reinvested in initiatives to benefit the Company's U.S.-based front line workforce and to otherwise increase the Company's capabilities. Core earnings per share of $5.70, a 9 percent increase compared to 2017 core earnings per share of $5.23. Approximately $9 billion in cash from operating activities and free cash flow of approximately $6 billion, which assumes net capital spending of approximately $3.6 billion and a discretionary pension contribution of $1.4 billion. Total cash returns to shareholders of approximately $7 billion.