Dr Pepper Snapple Group notes rise in EPS in Q3

PLANO, Texas Dr Pepper Snapple Group Thursday reported third-quarter 2009 earnings of $151 million, or 59 cents per share, a 30.5% increase from the year-ago period.

The beverage maker also reported that its earnings per share were 54 cents, compared with 45 cents last year, excluding separation-related costs and restructuring items. Year-to-date, the company reported earnings of $1.73 per share, a 42.9% increase over the prior-year period. Year-to-date earnings per share were $1.53, compared with $1.46 excluding distribution agreement changes, separation-related costs, and restructuring items.

For the quarter, however, reported net sales were down 4% to $1.4 billion. The company noted that pricing action taken this year, coupled with 4% volume growth were offset by higher sales of carbonated soft drink concentrate and value juices.

Reported income from operations was $272 million, compared with $213 million in the prior-year period.

DPS president and CEO Larry Young said, "While the economy is showing some signs of recovery, it's still too early to see this translate into higher beverage sales. For the quarter, liquid refreshment beverage trends remained negative. Against this backdrop, we once again demonstrated the power of our portfolio and the flexibility of our routes to market, posting solid top-line and strong bottom-line growth. A year and a half into our life as a public company, we're proud of what we have accomplished so far. Our priorities and strategies remain unchanged and continue to support long-term sustainable growth."