Keurig Dr Pepper forecasts strong annual growth after quarterly earnings beat
The company reported higher sales driven by resilient soda demand and marketing. It also named a new chair and raised funds for its JDE Peet's acquisition.
Insights:
Keurig Dr Pepper Inc. announced at the close of the quarter on Tuesday that it beat analyst estimates for both sales and adjusted earnings per share. In addition to the quarterly beat, the company issued a stronger full-year forecast for net sales and adjusted profit growth, supported by resilient demand for its carbonated beverages. Concurrently, the company raised $1.5 billion in equity financing to help fund its planned acquisition of JDE Peet's N.V. , a deal valued at approximately $18 billion.
