Income for Dr Pepper Snapple up 28% in quarter
April 27, 2011
PLANO, TEXAS — Income for Dr Pepper Snapple Group, Inc. was up 28% during the first quarter on increased sales and supply chain productivity benefits.
Income for the quarter ended March 31 was $114 million, equal to 51c per share on the common stock, which compared with income of $89 million, or 35c per share, during the same quarter of the previous year. Sales for the quarter were $1,331 million, up 7% from $1,248 million during the same quarter of the previous year.
“We’re off to a solid start in 2011,” said Larry Young, president and chief executive officer. “The foundational investments we’ve made to strengthen this business are paying off. Through rapid continuous improvement, or R.C.I., we’re finding even more opportunities to free up resources to support growth. For the period, we increased distribution and availability, introduced exciting new products and expanded Sun Drop nationally. Despite a significant escalation in commodity and fuel costs, we continue to manage this business for the long term, balancing brand growth with pricing, mix and productivity. With solid plans in place and with continued wins in R.C.I., I am confident we’ll deliver our commitments for the year.”
For the full-year 2011, the company expects net sales to increase 3% to 5% and diluted earnings per share to be in the $2.70 to $2.78 range.