Keurig Dr Pepper reported an 8.9% increase in net sales to $3.35 billion for Q1 2023, driven by favorable net price realization. The U.S. Refreshment Beverages and International segments showed strong performance, while U.S. Coffee had a slower start. The company reaffirms its guidance for full-year constant currency net sales growth of 5% and adjusted diluted EPS growth of 6% to 7%.
Net sales increased by 8.9% to $3.35 billion, with constant currency net sales also advancing 8.9%.
Favorable net price realization of 9.9% drove net sales growth, offset slightly by a 1.0% decrease in volume/mix.
U.S. Refreshment Beverages net sales increased by 12.7%, driven by innovation and effective in-market execution.
The company reaffirms its guidance for full-year constant currency net sales growth of 5% and adjusted diluted EPS growth of 6% to 7%.
KDP continues to expect net sales growth of 5% and Adjusted diluted EPS growth of 6% to 7% in 2023 on a constant currency basis, with foreign currency translation expected to be an approximate one half of one percentage point headwind to both metrics.
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