Dr Pepper Snapple trims sales view after flat third-quarter
(Reuters) - Dr Pepper Snapple Group Inc (DPS.N) trimmed its full-year sales growth target on Wednesday after its third-quarter sales came in lower than Wall Street expected.
The soft drink maker of brands like 7UP and Sunkist said it now expects full-year net sales growth of 2 percent, down slightly from its prior forecast for growth near the low end of its long-term range of 3 percent to 5 percent.
It stood by its profit forecast of $2.90 to $2.98 per share.
In the third quarter, Dr Pepper reported net sales of $1.53 billion, down less than 1 percent. Analysts, on average, expected $1.56 billion, according to Thomson Reuters I/B/E/S.
Net income rose to $179 million, or 84 cents per share, from $154 million, or 71 cents per share, a year earlier.
Excluding commodity-related accounting gains, earnings were 79 cents per share. On that basis, analysts, on average, expected 77 cents per share.
(Reporting by Martinne Geller in New York; Editing by Jeffrey Benkoe)