Dr Pepper Snapple Group Posts Q3 Profit
Follow CBSDFW.COM: Facebook | Twitter
PLANO (AP) - Dr Pepper Snapple Group Inc. on Thursday reported third-quarter net income of $202 million.
The Plano, Texas-based company said it had profit of $1.05 per share. Earnings, adjusted for non-recurring costs, came to $1.08 per share.
The results surpassed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.04 per share.
The maker of beverages such as 7Up, Sunkist and Mott's posted revenue of $1.63 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $1.6 billion.
Dr Pepper Snapple Group expects full-year earnings in the range of $3.92 to $3.98 per share.
Dr Pepper Snapple Group shares have risen 18 percent since the beginning of the year, while the Standard & Poor's 500 index has fallen almost 2 percent. The stock has risen 30 percent in the last 12 months.
(© Copyright 2015 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)