C.S.D. strength propels Dr Pepper earnings higher
July 26, 2012
by Keith Nunes
PLANO, TEXAS — Net income for the Dr Pepper Snapple Group rose to $178 million, equal to 84c per share on the common stock, during the second quarter ended June 30, up 3% from $172 million, or 78c per share, in the same period a year ago.
Sales for the quarter were $1,621 million, up 2% from $1,582 million during the second quarter of 2011.
“As we wrap up the first half of the year, I am pleased with the continued performance of our well-loved brands and the passion of our people as they continue to execute against our strategy and embrace Rapid Continuous Improvement as a way of doing business,” said Larry Young, president and chief executive officer. “We once again outperformed the category in C.S.D.s (carbonated soft drinks), growing both volume and dollar share, and made progress against our goals of increasing distribution and availability, with solid gains across both grocery and convenience in C.S.D.s and tea. And we continued to invest in our brands to ensure we are always providing value to our customers and our consumers.”
For the first six months of fiscal 2012, net income for the company was $280 million, or $1.32 per share, which compared with $286 million, or $1.28 per share, during the first six months of fiscal 2011. Sales for the period were $2,983 million, up 2% from $2,913 million during the previous year.
With regards to its full-year guidance, the company expects full-year reported net sales growth near the low end of its long-term 3% to 5% range and earnings per share to be in the $2.90 to $2.98 range.