Dive Brief:
- Dr Pepper Snapple Group reported second quarter earnings per share of $1.14, or $220 million in net income, over $1.06 per share, or net income of $210 million, in the same quarter last year. Adjusted earnings per share were $1.13, which beat analysts' predictions.
- "For the quarter, reported net sales increased 1%, which included favorable product, package and segment mix and a 1% increase in sales volumes, partially offset by 2 percentage points of unfavorable foreign currency translation," according to a news release.
- Dr Pepper Snapple boosted its full year guidance for core EPS to $3.85 to $3.93 and expects its full-year reported net sales to be up just above 1%.
Dive Insight:
Today's earnings numbers build upon Dr Pepper Snapple's earnings announced earlier this year as well, including a 2% increase in soda volumes and 3.1% increase in sales for Q4 2014, as reported in February. It remains to be seen whether Dr Pepper Snapple's partnership with the Keurig Kold boosts sales for these brands as they enter consumers' households in a way that is already popular with consumers who prefer to make their own single-serving beverages at home.
"We've had a good start to the year, and I'm proud of what our teams have been able to accomplish in this competitive environment," said Dr Pepper Snapple President and CEO Larry Young in a statement. "They remained focused on our strategy and continued to deliver against our key priorities. Year-to-date, we grew volume and dollar share in both the CSD and shelf-stable juice categories in Nielsen measured markets and gained or held distribution and availability across our portfolio."