PLANO, Texas (AP) — Dr Pepper Snapple Group Inc. (DPS) on Thursday reported profit of $188 million in its third quarter.
The Plano, Texas-based company said it had profit of 96 cents per share. Earnings, adjusted for severance costs and non-recurring costs, were 98 cents per share.
The results exceeded Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of 88 cents per share.
The maker of beverages such as 7Up, Sunkist and Mott's posted revenue of $1.58 billion in the period, which also beat Street forecasts. Analysts expected $1.54 billion, according to Zacks.
Dr Pepper Snapple Group expects full-year earnings in the range of $3.56 to $3.62 per share.
Dr Pepper Snapple Group shares have risen 34 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed slightly more than 4 percent. The stock has increased 44 percent in the last 12 months.