Dr Pepper Snapple (NYSE:KDP) will report earnings on Thursday. Here's what you need to watch for in the company's results.

Earnings expectations
The first issue that needs to be addressed is whether the beverage giant met Wall Street's expectations. Analysts peg profits at $0.90 per share this quarter. Dr Pepper Snapple booked earnings per share of $0.76 in the same quarter last year, so the company is expecting improvement in profit growth. It reported more than $1.6 billion in sales for the second quarter of last year and $6 billion for the full-year 2013.

Revenue growth
Dr Pepper Snapple's first-quarter net sales grew 1%. Latin America enjoyed a 17% surge in net sales, due in part to the newly enacted sugar tax in Mexico -- Dr Pepper Snapple successfully passed the tax on to consumers via higher pricing. In fact, sales volumes rose 2% in Mexico. Meanwhile, sales volume in the U.S. and Canada declined 2%.

Carbonated soda sales in the U.S. have fizzled out over the past decade, with Dr Pepper Snapple and its soda peers feeling the negative effects. As more consumers reach for health-conscious beverages, however, the noncarbonated drink segment shows growth potential, and Dr Pepper Snapple boasts Deja Blue water, Clamato and Mott's juices, Snapple, Nantucket Nectars, and Country Time Lemonade brands as part of its non-carbonated beverage portfolio.

Midyear check up
The maker of Hawaiian Punch, Sunkist, and 7UP expects reported net sales to be somewhere between flat and up 1% and core EPS to be in the $3.38 to $3.46 range for the full-year 2014. Packaging and ingredient cost reductions are projected to decrease the company's costs of good sold. Dr Pepper Snapple also plans to return $375 million to $400 million to shareholders through share repurchases in 2014, and its stock currently pays a thirst-quenching dividend yield of 2.7%. 

Foolish takeaway
When Dr Pepper Snapple releases its second-quarter results on Thursday, I'll be watching to see if and how the company achieved earnings and sales growth. I'll also be looking at this quarter's update to gauge how Dr Pepper Snapple is doing compared with its full-year 2014 expectations.

Nicole Seghetti owns shares of Apple. The Motley Fool recommends and owns shares of Apple. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.