On Wednesday, Dr Pepper Snapple Group, Inc. (NYSE: DPS) announced its financial results for the first quarter. The company beat on first-quarter revenue but missed analysts’ estimates of earnings.
For the first quarter, the company reported revenue of $1.59 billion, which surpassed analysts’ estimates of $1.57 billion. According to the company, sales of soda rose 4.2% to $833 million, and sales of non-carbonated drink increased 6.6% to $516 million.
Net income for the first quarter decreased from $177 million, or $0.96 per share, for the same period last year, to $159 million, or $0.88 per share. The result was lower than analysts’ estimates of $1.03 per share.
In addition, according to the company, motivated by increased consumer interest in ginger ale and product innovation, Canada Dry had a 16% gain. At the same time, third-party brands gained 32%, which was helped by distribution gains of BodyArmor and Core water.
According to a news report, in the second quarter of 2018, Keurig Green Mountain Inc plans to close a deal in which Keurig Green Mountain will buy Dr Pepper Snapple Group. After the deal, Keurig Green Mountain Inc plans to create a new company named Keurig Dr Pepper.