Dr Pepper Snapple Raises Full-Year Forecast after Q1 Earnings Beat (DPS)

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Beverage giant Dr Pepper Snapple Group Inc. ( DPS ) said Thursday that its first quarter profit fell 32% from last year, hurt by one-time charges, but adjusted results beat expectations and the company boosted its full-year forecast.

The Plano, TX-based company reported first quarter net income of $89 million, or 35 cents per share, compared with $132 million, or 52 cents per share, in the year-ago period. Excluding one-time charges, adjusted profit was 40 cents per share.

On average, Wall Street analysts expected a smaller profit of 38 cents per share.

Net sales edged down slightly from last year, to $1.25 billion.

Looking ahead, the company said it now expects full-year 2010 profit of $2.29 to $2.37 per share, compared with a prior forecast of $2.27 to $2.35 per share.

Dr Pepper Snapple shares were mostly flat in premarket trading Thursday.

The Bottom Line
We have been recommending shares of DPS since Nov.20, when the stock was trading at $26.69. The company has a 1.77% dividend yield, based on last night's closing stock price of $33.99.

Dr Pepper Snapple Group Inc. ( DPS ) is a "recommended" dividend stock, holding a Dividend.com DARS™ Rating of 3.5 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.

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