Plano, TX-based Dr Pepper Snapple Group Inc. DPS reported strong first-quarter 2016 results, surpassing the Zacks Consensus Estimate for both earnings and sales for the third quarter in a row.Earnings BeatFirst-quarter adjusted earnings per share (EPS) of 94 cents beat the Zacks Consensus Estimate of 86 cents by 9.3%. Moreover, earnings increased 16% year over year helped by strong top-line performance and margin expansion. Strong Revenues and MarginsDr Pepper Snapple’s net sales of $1.49 billion were ahead of the Zacks Consensus Estimate of $1.47 million by 1.4%. Net sales rose 2% year over year as favorable product/package mix, price hikes and sales volume offset currency headwinds.Sales were driven by a 3% increase in favorable product/package mix, 1% price hike and 1% sales volume growth. However, currency hurt sales by 2%. Sales in the first quarter were also hurt by unfavorable segment mix, and higher discounts related to the fountain foodservice business. Adjusted operating income of $306 million increased 13% year over year. Adjusted operating margin increased 190 basis points (bps) to 20.6% driven by higher sales, and productivity improvements.Volumes in DetailDr Pepper Snapple’s sales volume is measured in two ways: 1) sales volume and 2) bottler case sales (BCS) volume. Sales volume represents concentrates and finished beverages sold to bottlers, retailers and distributors. BCS includes the sale of finished packaged beverages by the company and its bottlers to retailers and independent distributors.Sales volume increased 1% in the quarter.In the quarter, BCS volume went up 2%, better than 1% in the previous quarter, as both Carbonated Soft Drinks (CSDs) and non-carbonated beverages (NCBs) volumes increased 2%.Geographically, volumes increased 2% in the U.S. and Canada, better than flat results in the last quarter, while increasing 6% in Mexico and the Caribbean, same as in the previous quarter.2016 OutlookDr Pepper Snapple raised its earnings, revenue and overall guidance for fiscal 2016. The company expects full year 2016 earnings at the higher end of its previously estimated range of $4.20 to $4.30 per share. Currency headwinds are expected to hurt 2016 EPS by 2.5%. The company expects net sales to be up approximately 2%, higher than the prior expectation of 1% increase. Currency is likely to have a negative impact of about 1% on sales, narrower than the prior expectation of 2% negative impact.The full-year tax rate is likely to be about 35.5%. Capital expenditure is expected to be nearly 3% of net sales. The company plans to repurchase roughly $650 million to $700 million shares in the year.Dr Pepper Snapple has a Zacks Rank #3 (Hold).Stocks to ConsiderSome better-ranked stocks in the broader beverage sector are Primo Water Corp. PRMW, Coca-Cola Enterprises, Inc. CCE and PepsiCo, Inc. PEP. While Primo Water sports a Zacks Rank #1 (Strong Buy), Coca-Cola Enterprises and PepsiCo carry a Zacks Rank #2 (Buy).Want the latest recommendations from Zacks Investment Research? Today, you can download7 Best Stocks for the Next 30 Days. Click to get this free report >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report COCA-COLA ENTRP (CCE): Free Stock Analysis Report DR PEPPER SNAPL (DPS): Free Stock Analysis Report PEPSICO INC (PEP): Free Stock Analysis Report PRIMO WATER CP (PRMW): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research