Keurig Dr Pepper Q1 2021 Earnings Report
Key Takeaways
Keurig Dr Pepper had an exceptional first quarter, with double-digit net sales and earnings growth driven by strong in-market execution. The company increased its outlook for 2021 net sales growth to 4% to 6% and reaffirmed its guidance for full-year Adjusted diluted EPS growth of 13% to 15%.
Net sales increased by 11.1% to $2.90 billion compared to the year-ago period.
GAAP diluted earnings per share more than doubled to $0.23.
Adjusted diluted EPS grew to $0.33, a double-digit increase versus year-ago.
Free cash flow was $458 million, enabling a reduction in total financial obligations by $125 million.
Keurig Dr Pepper
Keurig Dr Pepper
Forward Guidance
The Company reaffirmed its guidance for Adjusted diluted EPS growth in the range of 13% to 15%, reflecting its increased guidance for constant currency net sales growth in the range of 4% to 6%, which is expected to offset growing inflationary pressures in the balance of the year. The Company continues to expect its management leverage ratio to be at or below 3.0x at year-end.