Dr Pepper 3Q Profit Up 43 Pct On Lower Costs
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DPS
PLANO, Texas (AP) Dr Pepper Snapple Group Inc. said Thursday its third-quarter profit rose 42.5 percent, as the company benefited from lower costs, even while its sales fell.
The company raised the lower end of its full-year guidance for the year, but shares fell as some analysts worried the change means their expectations for the fourth-quarter are too high. The maker of Dr Pepper and Crush earned $151 million, or 59 cents per share, in the period ended Sept. 30. That compares with earnings of $106 million, or 41 cents per share, a year earlier. Excluding one-time items such as a tax gain related to separation costs and restructuring items, the company earned 54 cents per share, beating a consensus from Wall Street analysts. Analysts surveyed by Thomson Reuters had expected 49 cents per share in profit and revenue of $1.44 billion. Revenue fell 4 percent to $1.43 billion from $1.49 billion. Volume rose 3 percent, while carbonated soft drink volume rose 5 percent. Non-carbonated beverages including juices were up slightly.- Loading Comments...
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