Dr Pepper Snapple Group announce Q1 2015 results
Posted: 23 April 2015 | Victoria White | No comments yet
Dr Pepper Snapple Group has release its Q1 2015 results. For the quarter, reported net sales increased 4% while income from operations was $270 million…
Dr Pepper Snapple Group has release its Q1 2015 results.
Dr Pepper Snapple Group has reported first quarter 2015 EPS of $0.81 compared to $0.78 in the prior year period, an increase of 4%. Core EPS were also $0.81, compared to $0.74 in the prior year, an increase of 9%.
For the quarter, reported net sales increased 4%, as a sales volume increase of 2% and favourable segment and product mix were partially offset by 1 percentage point of unfavourable foreign currency translation. Reported segment operating profit (SOP) increased 7%, or $23 million, on net sales growth, ongoing productivity improvements and a planned reduction in marketing investments. On a currency neutral basis, SOP increased 10%.
Reported income from operations for the quarter was $270 million, up 4% compared to the prior year period, including a $1 million unrealised commodity mark-to-market loss. Reported income from operations was $260 million in the prior year period, including $12 million of unrealised commodity mark-to-market gains. Core income from operations was $271 million, up 9% compared to the prior year period.
Dr Pepper Snapple Group expanded distribution and availability across tea and juice portfolios
DPS President and CEO Larry Young said, “We had a strong start to 2015. Our teams continued to persevere though a challenging environment by executing against our key priorities of building our brands with consumers and executing with excellence in the marketplace. We grew both dollar and volume share in CSDs in Nielsen-measured markets, outperforming the category. We expanded distribution and availability across our tea and juice portfolios and launched relevant innovation to address consumers’ changing needs. Our Rapid Continuous Improvement (RCI) capabilities continue to develop across the organization and are helping to drive top-line growth, and we still have a tremendous amount of runway ahead of us.”
The company continues to expect full-year reported net sales to be up approximately 1% and core EPS to be in the $3.80 to $3.88 range after the impact of foreign currency, which is now expected to negatively impact net sales and core EPS growth by approximately 1% and 3%, respectively.