Net revenue increased 3.9% to $1.58 billion from $1.52 billion, but the line item missed analysts' call for sales of $1.59 billion. Dr Pepper Snapple said it would raise prices and push for greater productivity in an effort to cover higher input costs. It expects its cost of goods sold (COGS) to grow between 7% and 9% in fiscal 2011.
Dr Pepper Snapple forecast full-year EPS in the $2.70 to $2.78 range, with net sales to increase 3% to 5% to a range of $1.45 billion to $1.48 billion. That compares with analysts' expectations for 2011 EPS of $2.75 on revenue of $5.92 billion. Dr Pepper Snapple shares were 0.2% higher in premarket trading Wednesday after closing 0.2% lower at $39.64 in Tuesday's session.