Dr Pepper Snapple Group, Inc. (DPS) posted higher net income of $106 million, or $0.51 a share for the first quarter of 2013, compared with last year's $102 million, or $0.48 a share.
Excluding an unrealized commodity mark-to-market loss in the current year and an unrealized commodity mark-to-market gain last year, quarterly core earnings per share were $0.53. On average, 13 analysts polled by Thomson Reuters expected earnings per share of $0.46 for the quarter. Analysts' estimates typically exclude one-time items.
For the quarter, reported net sales increased 1% year-on-year to $1.38 billion, from $1.36 billion, reflecting positive price/mix and favorable discounts, partially offset by a 2% decline in sales volumes. Analysts estimated revenues of $1.39 billion for the quarter.
Looking ahead, the company still expects full-year reported net sales growth of about 3% and earnings per share in the $3.04 to $3.12 range, excluding the impact of commodity mark-to-market gains and losses.
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