Keurig Dr Pepper Q1 2022 Earnings Report
Key Takeaways
Keurig Dr Pepper reported a 6.1% increase in net sales for the first quarter of 2022, reaching $3.08 billion. The company raised its full-year net sales growth guidance to the high-single-digit range and reaffirmed its Adjusted EPS guidance for the year. Margins were impacted by accelerating inflation and coffee supply chain disruption.
Net sales increased 6.1% to $3.08 billion, driven by favorable net price realization of 6.3%.
GAAP operating income increased 51% to $966 million, while adjusted operating income declined 1.2% to $732 million.
GAAP net income increased 80% to $585 million, or $0.41 per diluted share; Adjusted diluted EPS was $0.33.
The company raised its guidance for constant currency net sales growth in 2022 to the high-single-digit range and reaffirmed its guidance for Adjusted diluted EPS growth in 2022 in the mid-single-digit range.
Keurig Dr Pepper
Keurig Dr Pepper
Forward Guidance
KDP raised its guidance for constant currency net sales growth in 2022 to the high-single-digit range and reaffirmed its guidance for Adjusted diluted EPS growth in 2022 in the mid-single-digit range. The Company continues to expect EPS performance versus 2021 to strengthen throughout the year, with Adjusted diluted EPS growth reaching the high-single-digit range in the second half of 2022, in line with the Company’s long-term algorithm.