US: Dr Pepper Snapple Group Q3 profits slide
- Quarterly profits slid to $144m from $155m
- Sales rose 2%
- DPSG lowered full-year sales and profits guidance
Dr Pepper Snapple Group lowered its full-year sales and profits growth guidance
Dr Pepper Snapple Group (DPSG) has recorded a drop in third-quarter profits and lowered its full-year sales and profits growth guidance.
For the three months to the end of September, the soft drinks firm earned US$144m compared to $151m in the comparable period last year, it said today (27 October). Net sales however, edged up by 2% to reach $1.46bn in the quarter, while operating profits dropped to $260m from $272 in the prior-year period.
Total sales volumes increased by 1% in the quarter, while branded sales volumes grew by 3%.
In the year-to-date period, DPSG earned $416m compared to $441m last year. Net sales climbed to $4.22bn in the nine-month period from $4.17bn in 2009, while operating profits slid to $757m from $834m.
The firm said it now expects full-year net sales to increase by 1% to 2%, a drop on the 3% to 5% it forecast in July. Earnings per share are expected to be between $2.30 and $2.38 compared to a previously predicted range of $2.29 to $2.37.
Click here to view the full earnings release and check back later for further insight into DPGS's results.
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