Dr Pepper Snapple 2Q adj. profit meets Street

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Associated Press

Posted on July 24, 2013 at 8:17 AM

PLANO (AP) -- Second quarter net income for Dr. Pepper Snapple Group Inc. has declined 13 percent amid higher commodity costs, bad weather and cautious consumer spending.

The Plano-based maker of Sunkist, Canada Dry, its namesake drinks and other beverages on Wednesday also cut its full-year revenue forecast.

Dr. Pepper earned $155 million, or 76 cents per share, for the three months ended June 30. A year earlier it earned $178 million, or 83 cents per share.

Removing an accounting measure and other items, earnings were 84 cents per share.

Revenue dipped to $1.61 billion from $1.62 billion.

Dr. Pepper now foresees 2013 revenue growth of approximately 2 percent, down from a prior prediction of about 3 percent.

 

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