Dr Pepper Snapple Group Reports Fourth Quarter, Full Year 2014 Results

Feb. 12, 2015
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 fourth quarter 2014 EPS of $0.77compared to $0.78 in the prior year period. Core EPS were $0.88 compared to $0.97 in the prior year.

For the quarter, reported net sales increased 3% on a 2% increase in sales volumes and favorable product, package and segment mix, which were partially offset by 1 percentage point of unfavorable foreign currency translation. Reported segment operating profit (SOP) increased 11%, or $38 million, on net sales growth and ongoing productivity improvements, as well as a favorable comparison to a $56 million non-cash charge due to our withdrawal last year from a multi-employer pension plan. These increases in year-over-year SOP were partially offset by increases in certain operating costs, including health and welfare and performance-based incentive compensation costs, a $13 million increase in marketing investments and an $8 million unfavorable foreign currency impact. Reported income from operations for the quarter was $256 million, including a $23 million unrealized commodity mark-to-market loss and a $14 million charge due to the annuitization of certain pension obligations. Reported income from operations was $264 million in the prior year period, which included the aforementioned $56 million pension charge and a $3 million unrealized commodity mark-to-market loss.

For the year, reported net sales increased 2%. Reported income from operations was $1,180 million, including the aforementioned$14 million pension charge and a $13 million unrealized commodity mark-to-market loss. Reported income from operations in the prior year was $1,046 million, which included the aforementioned $56 million pension charge and a $16 million unrealized commodity mark-to-market loss. Core income from operations was $1,205 million, up 7% compared to the prior year period. For the year, the company reported earnings of $3.56 per diluted share compared to $3.05 per diluted share in the prior year period. Core EPS were $3.65 compared to $3.20 in the prior year period. View full report here.