Dr Pepper Snapple misses by $0.06, misses on revs; lowers FY17 EPS below consensus, reaffirms FY17 revs guidance (89.71)
- Reports Q3 (Sep) earnings of $1.10 per share, excluding non-recurring items, $0.06 worse than the Capital IQ Consensus of $1.16; revenues rose 3.6% year/year to $1.74 bln vs the $1.77 bln Capital IQ Consensus.
- Organic volume growth is now expected to be over 1%; total volume growth is still expected to be approximately 2%, inclusive of the Bai acquisition, which closed on January 31, 2017. The recent hurricanes and earthquakes in the U.S. and Mexico are expected to reduce Core EPS by $0.02.
- Co issues guidance for FY17, lowers EPS to $4.50-4.57 from $4.53-4.63 vs. $4.58 Capital IQ Consensus Estimate; sees FY17 revs of +4.5% to ~$6.7-6.76 bln vs. $6.74 bln Capital IQ Consensus Estimate