PLANO (AP) – Second quarter net income for Dr Pepper Snapple Group Inc. has declined 13 percent amid higher commodity costs, bad weather and cautious consumer spending.
The Plano-based maker of Sunkist, Canada Dry, its namesake drinks and other beverages on Wednesday also cut its full-year revenue forecast.
Dr Pepper earned $155 million, or 76 cents per share, for the three months ended June 30. A year earlier it earned $178 million, or 83 cents per share.
Removing an accounting measure and other items, earnings were 84 cents per share.
Revenue dipped to $1.61 billion from $1.62 billion.
Dr Pepper now foresees 2013 revenue growth of approximately 2 percent, down from a prior prediction of about 3 percent.
(© Copyright 2013 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)
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