Dr. Pepper Snapple Tops Estimates, Raises EPS Outlook For The Year
Dr. Pepper Snapple Group Inc. shares rose 2.4% in premarket trade, after the company beat estimates for the third quarter and raised its outlook for the full year. The company said it had net income of $202 million, or $1.05 a share, in the third quarter, up from $188 million, or 96 cents a share for the same period last year. Adjusted earnings were $1.08 compared with a FactSet consensus of $1.03. Sales came to $1.63 billion, up from $1.58 billion the previous year and ahead of the FactSet consensus of $1.59 billion. Dr. Pepper Snapple raised its adjusted EPS outlook for the full year to between $3.92 and $3.98 from an earlier range of $3.85 to $3.93. Dr. Pepper Snapple stock is up 18.3% for the year so far. The S&P is down 2% for the same period.
Copyright © 2015 MarketWatch, Inc.