Karishma Vanjani
Keurig Dr Pepper's delivered solid fourth-quarter earnings even as its at-home coffee business struggles.
On Tuesday morning, the company reported adjusted earnings per share of 58 cents for the quarter on sales of $4.07 billion. Analysts tracked by FactSet had expected earnings per share of 57 cents on sales of $4.01 billion.
The stock was up 2.58% to $35 in premarket trading.
Keurig Dr Pepper's U.S. Refreshment Beverages segment, which includes Dr Pepper, 7UP, and Snapple, is doing well. Sales were up 10.3% in the fourth quarter to $2.4 billion from a year ago as the unit benefited from higher prices on volumes sold.
But sales fell 2.4% to $1.1 billion for its coffee business. Shipment of the single-serve K-Cups pods rose slightly but were more than offset by unfavorable prices.
Still, the company said it expects net sales to grow in a mid-single-digit range and adjusted earnings per share growth of in a high-single-digit range in 2025. Both projections nearly match estimates.
Write to Karishma Vanjani at karishma.vanjani@dowjones.com
This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.
(END) Dow Jones Newswires
February 25, 2025 08:16 ET (13:16 GMT)
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