Dr Pepper Snapple Group Reports Third Quarter 2014 Results

Oct. 23, 2014
Dr Pepper Snapple Group Inc Logo
Dr Pepper Snapple Group Inc Logo
Dr Pepper Snapple Group Inc Logo
Dr Pepper Snapple Group Inc Logo
Dr Pepper Snapple Group Inc Logo

PLANO, Texas--(BUSINESS WIRE)--Dr Pepper Snapple Group, Inc. (NYSE: DPS) reported third quarter 2014 EPS of $0.96 compared to $1.01 in the prior year period. Core EPS were $0.98, up 11%, compared to $0.88 in the prior year. Year-to-date, the company reported earnings of $2.79 per diluted share compared to $2.28 per share in the prior year period. Core EPS were $2.77, up 23%, compared to $2.25 in the prior year period.

For the quarter, reported net sales increased 3% driven by favorable segment mix, product and package mix and net pricing. Reported segment operating profit (SOP) increased 4%, or $15 million, on favorable commodity costs and ongoing productivity improvements that were partially offset by higher transportation and manufacturing costs. SOP was also negatively impacted by an unfavorable year-over-year LIFO comparison of $7 million and an unfavorable comparison to a $6 million adjustment to a legal provision in the prior year.

Year-to-date, reported net sales increased 2%, and reported income from operations was $924 million, including $10 million of unrealized commodity mark-to-market gains. Reported income from operations was $782 million in the prior year period, which included $13 million of unrealized commodity mark-to-market losses. Core income from operations was $914 million, up 14% compared to the prior year period. Full report.