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Dr Pepper reports first quarter 2011 results
Dr Pepper Snapple Group has reported first quarter 2011 diluted earnings of $0.50 per share compared to $0.35 per share in the prior year period.
Excluding a separation-related foreign deferred tax charge, diluted earnings per share in the prior year period were $0.40.
For the quarter, reported net sales increased 7%, reflecting solid volume growth and low-single digit price increases. Revenue recognised under the PepsiCo and The Coca-Cola Company licensing agreements, and the favourable impact of repatriated brands added three percentage points to net sales growth.
Reported segment operating profit (SOP) increased 1% reflecting net sales growth and ongoing supply chain productivity benefits partially offset by higher packaging, ingredient and transportation costs and a $14m increase in marketing.
Foreign currency added one percentage point to net sales and SOP growth. Reported income from operations for the quarter was $202m compared to $187m in the prior year period.
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