The company said net sales for Q1 rose 3.4% to $3.5 billion, and GAAP operating income rose 31.0% to $765 million. It attributed the increase in operating income to operating momentum and the year-over-year effect of items affecting comparability.

1. 01

   The company said net sales for Q1 rose 3.4% to $3.5 billion, and GAAP operating income rose 31.0% to $765 million. It attributed the increase in operating income to operating momentum and the year-over-year effect of items affecting comparability.

2. 02

   Keurig Dr Pepper said Adjusted operating income for Q1 rose 17.5% to $825 million, or 23.8% of net sales, and Adjusted diluted EPS rose 11.8% to $0.38. It also cited Adjusted gross profit growth of 9.7% and Adjusted gross margin expansion of 350 basis points.

3. 03

   The company said operating cash flow for Q1 was $85 million and free cash flow was $(73) million. For the same quarter, financing activities included Notes issuance of $3,000 million, Notes repayments of $1,150 million and share repurchases of $1,105 million.

4. 04

   KDP said Timothy Cofer will be appointed Chief Executive Officer and a member of the Board effective April 26, 2024, and Robert Gamgort will become Executive Chairman. The company also reaffirmed its guidance for 2024 fiscal-year constant currency net sales growth in a mid-single-digit range and Adjusted diluted EPS growth in a high-single-digit range.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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