Dr Pepper Snapple beats by $0.08, beats on revs; guides FY16 EPS in-line, raises rev guidance
- Reports Q1 (Mar) earnings of $0.94 per share, $0.08 better than the Capital IQ Consensus of $0.86; revenues rose 2.5% year/year to $1.49 bln vs the $1.47 bln Capital IQ Consensus.
- Co issues guidance for FY16, sees EPS at the high end of the previously communicated range of $4.20-4.30, vs. $4.32 Capital IQ Consensus Estimate. Now expects full year reported net sales to be up approximately 2%, up from prior guidance for 1% growth. Consensus represents +1.7% sales growth.
- Collectively, foreign currency translation and transaction are now expected to negatively impact net sales by approximately 1% and core EPS growth by about 2.5%.
- "We're off to a good start this year. Our teams stayed focused on our strategy of unlocking growth across our priority brands through integrated communication and execution. We gained dollar share in both CSDs and sparkling waters in Nielsen measured markets and delivered both product and package innovation to meet consumers' evolving needs. Rapid Continuous Improvement (RCI) continues to enhance growth and productivity across the business."