8-K

 

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of Earliest Event Reported): September 7, 2005

The Pepsi Bottling Group, Inc.
__________________________________________
(Exact name of registrant as specified in its charter)

Delaware	1-14893	13-4038356
_____________________ (State or other jurisdiction	_____________ (Commission	______________ (I.R.S. Employer
of incorporation)	File Number)	Identification No.)
One Pepsi Way, Somers, New York		10589
_________________________________ (Address of principal executive offices)		___________ (Zip Code)

Registrant’s telephone number, including area code: (914) 767-6000

N/A
______________________________________________
Former name or former address, if changed since last report

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

[  ]  Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
[  ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
[  ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
[  ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02 Results of Operations and Financial Condition.

On September 7, 2005, The Pepsi Bottling Group, Inc. (the "Company") affirmed its third quarter earnings guidance for the quarter ended September 3, 2005 and its full-year 2005 earnings guidance, as described in the press release furnished hereto as Exhibit 99.1, which is incorporated herein by reference. The Company is scheduled to issue its complete third quarter earnings results on September 27, 2005.

Item 9.01 Financial Statements and Exhibits.

(a) Not Applicable.

(b) Not Applicable.

(c) Exhibits 99.1 Press Release dated September 7, 2005 which is being furnished hereto pursuant to Item 2.02.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	The Pepsi Bottling Group, Inc.
September 7, 2005	By:	Steven M. Rapp
		Name: Steven M. Rapp
		Title: Senior Vice President, General Counsel and Secretary

Exhibit Index

Exhibit No.	Description
99.1	Press Release

EX-99.1

Exhibit 99.1

THE PEPSI BOTTLING GROUP CONFIRMS THIRD QUARTER
AND FULL-YEAR 2005 EARNINGS GUIDANCE
Company Guides to High End of Third Quarter Earnings Projection

SOMERS, N.Y., — (BUSINESS WIRE) — September 7, 2005 – The Pepsi Bottling Group, Inc. (NYSE: PBG) today affirmed its forecast for third quarter diluted earnings per share (EPS) and projected that its results will likely reach the high end of its guidance range of $0.76 to $0.78. For the full year, diluted EPS are projected to be $1.82 to $1.88, with worldwide volume growth of about three percent and a net revenue per case increase of three percent. The full-year volume projection excludes the impact of the 53^rd week. (See Editor’s Note.)

During the third quarter, which closed September 3^rd, PBG’s constant territory worldwide physical case volume grew five percent. (Constant territory calculations assume all significant acquisitions made in 2004 were made at the beginning of 2004 and exclude all significant acquisitions made in 2005.) Physical case volume both in the U.S. and Canada grew four percent in the quarter. PBG’s businesses in Europe and Mexico each had robust volume growth in the third quarter, up eight percent and seven percent respectively.

John T. Cahill, PBG Chairman and CEO, said, “We delivered strong topline growth in all of our territories with the U.S. pricing environment remaining positive. In the U.S., volume was driven largely by Aquafina growth as well as impressive gains in Tropicana and Lipton. Our quarter just ended over the weekend and the financial books have not been closed. We do expect that our strong worldwide volume performance will be offset by higher than anticipated costs, but we are confident that we will deliver at the high end of our third quarter EPS guidance.”

PBG is scheduled to issue its complete third quarter 2005 earnings results on Tuesday, September 27^th.

Mr. Cahill and Eric J. Foss, Chief Operating Officer of PBG, will make a joint presentation at the Prudential Securities Back-to-School Conference later this morning in Boston. The entire presentation, which will begin at approximately 10:30 a.m. (Eastern Time), will be webcast live and available for podcasting at http://www.pbg.com.

The Pepsi Bottling Group, Inc. is the world’s largest manufacturer, seller and distributor of Pepsi-Cola beverages with operations in the U.S., Canada, Greece, Mexico, Russia, Spain and Turkey. To receive company news releases by e-mail, please visit www.pbg.com.

# # #

Editor’s Note: PBG’s fiscal year ends on the last Saturday in December and, as a result, a 53^rd week will be added to the fiscal year 2005. Fiscal 2004 had 52 weeks.

Statements made in this press release that relate to future performance or financial results of the Company are forward-looking statements which involve uncertainties that could cause actual performance or results to materially differ. PBG undertakes no obligation to update any of these statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. Accordingly, any forward-looking statement should be read in conjunction with the additional information about risks and uncertainties set forth in PBG’s Securities and Exchange Commission reports, including PBG’s annual report on Form 10-K for the year ended December 25, 2004.

Attachment

THE PEPSI BOTTLING GROUP, INC.
RECONCILIATION OF NON-GAAP MEASURES

Impact of 53^rd Week

In 2005, our fiscal year will include a 53^rd week, while fiscal year 2004 consisted of 52 weeks. Our U.S. and Canadian operations report on a fiscal year that consists of 52 weeks, ending on the last Saturday in December. Every five or six years a 53^rd week is added. Our other countries report on a calendar-year basis. In order to provide comparable guidance for 2005, we have excluded the impact of the 53^rd week from our volume outlook. The table below provides pro forma disclosure by excluding the projected impact of the 53^rd week in 2005:

	Pro Forma Forecasted						Forecasted
	2005 versus 2004			Impact of			2005 versus
	Growth			53rd Week			2004 Growth
Worldwide Volume		3	%		1	%		4	%

Contact: Kelly McAndrew
Public Relations
(914) 767-7690 Mary Winn Settino
Investor Relations
(914) 767-7216