DPS discloses Q2 earnings
PLANO, Texas Dr Pepper Snapple Group reported earnings per share of 60 cents for the second quarter, up from 59 cents in the year-ago period.
The company, however, had fewer shares outstanding in the latest quarter.
Net sales increased 2% reflecting sales volume growth, and revenue also rose with the help of DPS' licensing agreements with PepsiCo, the company said. Dr Pepper also added that its carbonated soda volume rose 2%, although its "Core 4" brands –– 7UP, Sunkist soda, A&W and Canada Dry –– declined 1%. In its noncarbonated beverage sector, Hawaiian Punch volume grew 7%, Snapple grew 10% and Mott's grew 3%.
Full-year 2010 diluted earnings per share are expected to be $2.35 to $2.43.
"Our portfolio of CSDs and value juices continued to post solid volume and share gains, further demonstrating their value to consumers. ... We remain focused on delivering on our commitments for 2010, while building solid plans for 2011 and beyond," DPS president and CEO Larry Young said.