Friday 01 March 2024

Keurig Dr Pepper posts 4.4% increase in sales to $2.61bn, reaffirms guidance

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BURLINGTON, Mass. and PLANO, Texas, U.S. – Keurig Dr Pepper Inc posted better-than-expected results for the first quarter ended March 31, reporting a 4.4% net sales growth to $2.61 billion, compared with $2.5 billion a year ago. Additionally, the company reported growth in all four segments. On a constant currency basis, net sales increased 4.5 percent, it says.

On a GAAP basis, diluted earnings per share in the first quarter of 2020 decreased to $0.11, compared to $0.16 in the year-ago period. Excluding items affecting comparability, Adjusted diluted EPS advanced 16% to $0.29, compared to $0.25 in the year-ago period.

For its first quarter, KDP witnessed 5% volume growth with particularly solid performance by its packaged beverages segment, which benefited from the impact of Covid-19.

Despite ongoing concern for the Covid-19 crisis, the management reaffirmed its guidance for fiscal 2020.

In the first quarter, the company benefited from a strong in-market performance. Keurig Dr Pepper witnessed dollar consumption growth, with market share gains across several major categories — CSD’s3, shelf stable fruit drinks and shelf stable apple juice.

Keurig Dr Pepper: Coffee Systems

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