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PLANO — Dr. Pepper Snapple Group Inc. lifted its full-year adjusted profit outlook Thursday, citing a lower tax rate and a decline in packaging and ingredient costs.
The drinks maker also said its updated guidance was prompted by some marketplace and productivity office investments in the second half.
Dr. Pepper Snapple now expects 2009 earnings of $1.88 to $1.96 per share, excluding gains in the first quarter related to distribution agreement changes.
Its prior forecast was for net income of $1.70 per share to $1.78 per share.
Analysts predict profit of $1.77 per share, according to a Thomson Reuters poll. Analysts' estimates typically exclude one-time items.
Dr. Pepper Snapple Group, which was spun-off last year from British-based Cadbury, also said Thursday that its second-quarter profit rose 46 percent.
