Soda giant Pepsi Bottling Group (PBG) announced Tuesday it reversed last year’s loss in the fourth quarter.  

Revenue during the quarter remained flat.

Pepsi Bottling posted profits of $90 million, or 40 cents per share, for the quarter, compared to prior-year losses of $271 million, or $1.28 per share. Excluding one-time charges, earnings per share rose from 30 cents to 59 cents.

Revenue was flat at $3.81 billion, but excluding one-time charges related to foreign exchange was up 3%. Global case volume fell 3%.

Analysts polled by Thomson Reuters forecast earnings of 43 cents a share on revenue of $3.83 billion.

The shares were up 0.3% at $37.73 Tuesday.