(RTTNews) - Non-alcoholic beverages maker Dr Pepper Snapple Group, Inc. (DPS: News ) said Thursday that pricing actions and a 4% sales volume growth helped the company report higher earnings for the third quarter. Adjusted earnings per share grew from last year and beat analysts' estimate by five cents. The company also raised its earnings guidance for the full year, but expects net sales for the year to be down 3% to 4%.

Net income for the quarter was $151 million or $0.59 per share, higher than $106 million or $0.41 per share in the same quarter last year. Latest quarter results included $0.05 per share of separation-related tax items.

Net income, excluding items, was $0.54 per share compared to $0.45 per share last year. On an average, eight analysts polled by Thomson Reuters expected the company to report earnings of $0.49 per share for the quarter. Analysts' estimates typically exclude special items.

The Plano, Texas-based soft drink company's quarterly net sales were $1.43 billion, down 4% from $1.49 billion in the prior year quarter. The company noted that net sales increased 2% on a currency neutral basis and excluding the loss of Hansen product distribution. Five analysts had consensus revenue estimate of $1.44 billion for the quarter.

Dr Pepper has three operating segments: Beverage Concentrates, Packaged Beverages, and Latin America Beverages.

Net sales from Beverage Concentrates increased to $260 million from $231 million in the previous year, helped by a 7% sales volume growth due to expanded Crush distribution and favorable comparisons to certain discounts in the prior-year period.
Packaged Beverages net sales declined to $1.08 billion from $1.15 billion in the prior year, reflecting a 1% decline in sales volume. Price increases in CSDs and Snapple, taken earlier in the year, were offset by the impact of negative mix, the company said.

Net sales from Latin America Beverages were $97 million, compared to $114 million in the comparable period.

In the preceding second quarter, the company reported net income of $158 million or $0.62 per share, higher than $108 million or $0.42 per share in the prior-year second quarter. Net sales for the second quarter declined 4% to $1.48 billion from $1.55 billion in the same quarter last year.

For the nine month period, net income was $441 million or $1.73 per share, up from $309 million or $1.21 per share in the comparable period. Excluding distribution agreement changes, separation-related costs, and restructuring items, year-to-date earnings were $1.53 per share, compared to $1.46 per share last year. Year-to-date, net sales declined to $4.18 billion from $4.33 billion in the prior year.

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