Dr Pepper Snapple 1st-quarter profit tops estimates
(Reuters) - Dr Pepper Snapple Group Inc (DPS.N) reported a higher-than-expected quarterly profit on Wednesday, helped by productivity improvements.
The maker of Dr Pepper, Sunkist and 7UP sodas also stood by its full-year forecast, which calls for earnings of $3.04 to $3.12 per share on sales growth of 3 percent.
In the first quarter, net income was $106 million, or 51 cents per share, up from $102 million, or 48 cents per share, a year earlier.
Excluding a loss related to commodity accounting, earnings were 53 cents per share, topping analysts' average estimate of 46 cents, according to Thomson Reuters I/B/E/S.
"Despite continued category headwinds, a fragile U.S. consumer and abnormally cold weather across the Northeast and Midwest, our business results remained solid for the quarter," said Chief Executive Larry Young.
Net sales rose 1 percent to $1.38 billion, after the company sold more higher-priced drinks. Sales by volume fell 2 percent.
(Reporting by Martinne Geller in New York; Editing by Gerald E. McCormick and Maureen Bavdek)
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