Keurig Dr Pepper 2Q Volume Gains Boost Sales
By Dean Seal
Keurig Dr Pepper reported higher sales and earnings in the second quarter as volumes lifted across its U.S. drinks, coffee and international business units.
The beverages company posted a profit of $515 million, or 38 cents a share, compared with $503 million, or 36 cents a share, in the same quarter a year ago.
Stripping out one-time items, adjusted earnings were 45 cents a share, in line with the consensus estimate of analysts surveyed by FactSet.
Sales rose 3.5% to $3.92 billion, clearing analyst projections for $3.91 billion, according to FactSet.
The top line gain was driven by both higher prices and higher volumes. Sales in its main U.S. beverages segment were up 3.3% with an uptick in volumes, while its coffee business logged a 2.1% drop in sales as higher volumes were offset by lower prices.
The company's smaller international business recorded more than 15% higher sales on broad-based strength across the portfolio.
Write to Dean Seal at dean.seal@wsj.com
(END) Dow Jones Newswires
July 25, 2024 07:35 ET (11:35 GMT)
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