Dr Pepper’s results fizz as income beats forecasts
DR PEPPER Snapple Group has reported higher-than-expected quarterly results, helped by higher selling prices of its drinks, and the company forecast a 2012 profit largely above market expectations.
The maker of Dr Pepper and 7UP sodas said fourth-quarter net income was $166m (£105.7m) or 77 cents a share, compared with $112m, or 49 cents a share, a year ago.
Excluding items, the company earned 82 cents a share.
Net sales rose three per cent to $1.46bn. Analysts, on average, were expecting earnings of 74 cents a share, before special items, on revenue of $1.45bn.
Dr Pepper expects a fiscal 2012 profit of $2.90 to $2.98 a share, excluding items, compared with analysts’ average estimate of $2.91 a share. It expects full-year sales growth near the low-end of its long-term target range of three to five per cent.