Keurig Dr Pepper's US Coffee Sales Hits A Snag, Beats On Q3 With Solid Gross Margin Expansion
Portfolio Pulse from Shivani Kumaresan
Keurig Dr Pepper Inc (NASDAQ:KDP) reported Q3 FY23 sales growth of 5.1% YoY to $3.81 billion, beating the analyst consensus estimate. U.S. Coffee sales decreased 3.2% to $1.01 billion, while U.S. Refreshment Beverages rose 5.9% to $2.27 billion. Gross profit increased 11% to 2.1 billion, with the margin expanding from 52.5% to 55.5%. The company reaffirmed FY23 constant currency sales growth of 5% to 6% and adjusted EPS growth of 6% - 7%.
October 26, 2023 | 4:10 pm
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Keurig Dr Pepper reported strong Q3 results, beating analyst estimates. Despite a decrease in U.S. Coffee sales, the company saw overall sales growth and gross profit increase.
Keurig Dr Pepper's strong Q3 results, which beat analyst estimates, are likely to have a positive impact on its stock price. The company's sales growth and gross profit increase indicate a strong financial performance, despite a decrease in U.S. Coffee sales. This news is highly relevant and important for KDP investors.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100