Dr Pepper Snapple Group, Inc. reported first quarter 2014 earnings per share (EPS) of $0.78 compared to $0.51 in the prior year period. Core EPS were $0.74 compared to $0.53 in the prior year.
For the quarter, reported net sales increased 1 percent as a sales volume increase of 1 percent, favorable product and package mix and net pricing were partially offset by unfavorable segment mix and 1 percentage point of foreign currency. Reported segment operating profit (SOP) increased 14 percent, or $40 million, on net sales growth, lower commodity costs, including an unfavorable year-over-year LIFO comparison and ongoing productivity improvements.
Reported income from operations for the quarter was $260 million, including $12 million of unrealized commodity mark-to-market gains. Reported income from operations was $197 million in the prior year period, including $7 million of unrealized commodity mark-to-market losses. Core income from operations was $248 million, up 21.6 percent compared to the prior year period. Full report.