UPDATE: Dr Pepper Snapple Posts Upbeat Q2 Earnings, Raises Full-Year Earnings Forecast

Dr Pepper Snapple Group

reported a 35% rise in its second-quarter profit and lifted its forecast for the year. Dr Pepper Snapple raised its full-year earnings forecast by $0.05 per share to a range of $3.43 per share to $3.51 per share. The Plano, Texas-based company posted a quarterly profit of $210 million, or $1.06 per share, versus a year-ago profit of $155 million, or $0.76 per share. The company's income from operations surged to $348 million, from $285 million. Its sales rose 1.2% to $1.63 billion. However, analysts were expecting earnings of $0.90 per share on revenue of $1.62 billion. The company's soda volume climbed 2%, while the namesake Dr Pepper brand's volume fell 1%. 7UP reported flat volumes in the quarter. Bottler-case-sales volume climbed 1%, while noncarbonated drinks volume dropped 4%. Volume of Snapple dropped 3%, while Hawaiian Punch volume fell 12%. Dr Pepper Snapple's gross margin rose to 59.2% from 58%, while selling, general and administrative expenses dropped 4.4%. DPS President and CEO Larry Young said, “As I look back on the first half of the year, there's no question that we've posted strong results in a tough environment. Our teams remained focused on executing our strategy, and we've made good progress against our key priorities.” Dr Pepper Snapple shares surged 6.09% to $62.00 in pre-market trading.