Dr Pepper Snapple Group Inc. (DPS) posted higher second-quarter 2012 net income of $178 million or $0.83 per share, versus $172 million or $0.77 per share last year. Excluding unrealized commodity mark-to-market losses in both years and certain items affecting comparability in the current year, core earnings per share rose to $0.85, from $0.78 in the prior year quarter. On average, 13 analysts polled by Thomson Reuters expected earnings per share of $0.82 for the quarter. Analysts' estimates typically exclude one-time items.
For the quarter, reported net sales increased 2% to $1.62 billion from $1.58 billion a year ago, reflecting 4 percentage points of price/mix and lower discounts, partially offset by lower volumes and a 2% foreign currency impact. Analysts estimated revenues of $1.63 billion for the quarter.
Further, the company continues to expect full-year reported net sales growth near the low end of its long-term 3% to 5% range and core earnings per share to be in the $2.90 to $2.98 range.
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