Keurig Dr Pepper Boosts FY Sales Guidance

(RTTNews) - While reporting second-quarter results, Keurig Dr Pepper Inc. (KDP) raised its full-year net sales guidance to low-double-digit growth, and reaffirmed its guidance for Adjusted EPS growth in the mid-single-digit range.

The company now expects full-year 2022 net sales growth to be in the low-double-digit growth, up from the previous high-single-digit range. In addition, the company continues to expect Adjusted EPS growth in the second half of the year to reach the high-single-digit range, driven largely by the fourth quarter.

Q2 Numbers

The company's Q2 net income was $218 million or $0.15 per share versus $448 million or $0.31 per share last year. Adjusted EPS in the quarter rose 2.6% to $0.39 from $0.38 in the prior year period. Meanwhile, net sales for the quarter increased to $3.55 billion from $3.14 billion generated a year ago.

Analysts polled by Thomson Reuters expected earnings of $0.39 per share on revenue of $3.38 billion for the quarter. Analysts' estimate typically exclude certain special items.