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Benzinga
Benzinga
Business
Shivani Kumaresan

Keurig Dr Pepper's Q4 Revenue Tops Consensus; Affirms FY22 Outlook

  • Keurig Dr Pepper Inc (NASDAQ:KDP) reported fourth-quarter FY21 sales growth of 8.7% year-on-year, to $3.39 billion, beating the consensus of $3.30 billion.
  • Net sales increase reflected strong growth in Packaged Beverages, Beverage Concentrates, and Latin America Beverages.
  • On a constant currency basis, net sales advanced 8.5% Y/Y and 15.7% versus Q4 2019.
  • Net sales for Coffee systems were flat, Packaged beverages increased 17.1%, Beverage Concentrates grew 9.2%, and Latin American Beverages climbed 11.8%.
  • Gross profit rose 0.2% Y/Y to $1.77 billion, with the margin at 52.3%. The operating margin was 21.4%, and operating income for the quarter rose 3.6% to $725 million.
  • Adjusted EPS of $0.45 was in line with the Street view.
  • The company held $568 million in cash and equivalents as of December 31, 2021.
  • Outlook: Keurig Dr Pepper affirmed guidance for both net sales and Adjusted EPS growth in 2022 in the mid-single-digit range.
  • Price Action: KDP shares traded lower by 2.44% at $37.13 in pre-market on the last check Thursday.
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