Why Keurig Dr Pepper Shares Are Falling Today
Portfolio Pulse from Nabaparna Bhattacharya
Keurig Dr Pepper Inc. (NASDAQ:KDP) shares fell after reporting Q4 results. While adjusted EPS of 55 cents exceeded expectations, revenues of $3.867 billion slightly missed forecasts. The company saw a 1.7% year-over-year increase in net sales, with US Refreshment Beverages net sales up 6.8%. However, U.S. Coffee net sales dropped 9.9%. International sales rose 11.5%, and adjusted operating income grew 6.5%. Keurig projects mid-single-digit net sales growth and high-single-digit EPS growth in 2024.
February 22, 2024 | 4:29 pm
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Keurig Dr Pepper Inc. (KDP) shares dropped after Q4 earnings revealed a slight revenue miss despite beating EPS estimates. The company anticipates mid to high single-digit growth in sales and EPS for 2024.
Despite beating EPS estimates, KDP's slight miss on revenue expectations led to a negative short-term reaction in its stock price. The company's optimistic growth outlook for 2024 may mitigate longer-term concerns, but the immediate market response reflects disappointment in not fully meeting revenue forecasts.
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