Dr. Pepper Snapple Q4 Results Beat View
But Sees 2016 Results Below Estimates
The Plano, Texas-based company's fourth-quarter net income increased to $185 million or $0.97 per share from $150 million or $0.77 per share a year ago.
Excluding items, core earnings for the quarter were $1.00 per share, compared to $0.88 per share last year. On average, 18 analysts polled by Thomson Reuters expected earnings of $0.98 per share for the quarter. Analysts' estimates typically exclude special items.
Net sales for the quarter rose to $1.55 billion from $1.51 billion last year. Analysts had a consensus revenue estimate of $1.53 billion for the quarter.
Net sales increased 2 percent after a 2 percent reduction for foreign currency translation. Net sales grew on favorable product, package and segment mix, price increases and lower discounts.
For the quarter, bottle case sales volume increased 1 percent, with carbonated soft drinks flat and non-carbonated beverages up 4 percent.
Looking ahead to fiscal 2016, the company forecast reported net sales to be up approximately 1 percent and core earnings per share in a range of $4.20 to $4.30.
Collectively, foreign currency translation and transaction are expected to negatively impact net sales by approximately 2 percent and core earnings per share growth by approximately 4 percent, or $0.18 per share.
Analysts currently expect earnings of $4.33 per share on revenue growth of 2.3 percent to $6.41 billion for the year. (dpa)
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