Dr Pepper Snapple Group earnings flat in 2010
Feb. 17, 2011
by Keith Nunes
PLANO, TEXAS — Little changed between fiscal 2009 and 2010 from an earnings perspective for the Dr Pepper Snapple Group. Net income in the year ended Dec. 31, 2010, was $528 million, equal to $2.19 per share on the common stock, which compared with net income of $555 million, or $2.18 per share, during fiscal 2009.
Sales during fiscal 2010 increased slightly to $5,636 million when compared with sales during fiscal 2009 of $5,531 million.
“As we look ahead, I’m encouraged by some of the improving trends we’re seeing in consumer spending and in the economy generally and by the momentum of our brands and business,” said Larry Young, president and chief executive officer. “We accomplished a lot in 2010, from the opening of our regional center in Victorville, Calif., to the new licensing agreements with PepsiCo and Coca-Cola, to increased availability of our products in take-home, immediate consumption and fountain. With key foundational investments now behind us, we are focused on building our people capabilities and delivering even greater customer value through our developing Rapid Continuous Improvement initiative. This, combined with strong innovation, the national launch of Sun Drop and continued marketplace investments, gives me great confidence in our ability to grow and enhance the returns of this business in 2011 and beyond.”
During the fourth quarter, the Dr Pepper Snapple Group’s net income was $112 million, or 49c per share, compared with net income of $114 million, or 45c per share, during the same period of the previous year.
Sales for the fourth quarter were $1,412 million, a slight increase compared with sales of $1,356 million during the fourth quarter of fiscal 2009.
For fiscal 2011, the company said its per share guidance would be in the $2.70 to $2.78 range. It estimated its sales would increase 3% to 5% when compared with its fiscal 2010 revenue.