Dr Pepper Snapple Q3 2012 net income up 16%
Dr Pepper Snapple Group (DPS), a producer of flavored beverages in North America and the Caribbean, has reported net income of $179m for the third quarter (Q3) ended September 2012, an increase of 16%, compared to $154m in the prior year period.
For the quarter, reported net sales were flat. Year-to-date, reported net sales increased 2%.
DPS president and CEO Larry Young said, "Rapid continuous improvement (RCI) is gaining momentum across the organization and is delivering improvements in operating profitability and cash flow, resulting in returns for our shareholders."
For the quarter, bottler case sales (BCS) volume declined 3% with carbonated soft drinks (CSDs) declining 2% and non-carbonated beverages (NCBs) declining 5%.
In CSDs, Dr Pepper volume decreased 1% driven primarily by declines in the base business, partially offset by growth of Dr Pepper TEN and continued fountain availabilities.
Sunkist soda and 7UP both experienced a high-single digit decline, while A&W experienced a mid-single digit decline and Sun Drop experienced a double-digit decline.
In NCBs, Hawaiian Punch volume declined 14% on retail price increases and Mott's volume declined 10% due to lower promotional activity.
By geography, the US and Canada volume declined 3% and Mexico and the Caribbean volume increased 1%.
DPS' portfolio also includes Canada Dry, Clamato, Crush, Mr & Mrs T mixers, Peñafiel, Rose's, Schweppes and Squirt.