Keurig Dr Pepper Q1 net sales advanced 164% to $2.5 billionChristian Fernsby ▼ | May 10, 2019
Keurig Dr Pepper reported financial results for the first quarter ended March 31, 2019 and affirmed guidance for adjusted diluted EPS growth of 15% to 17% for the full year.
Keurig Dr Pepper Operating income increased 180% to $498 million
As a result, compared to the prior year period, net sales advanced 164% to $2.5 billion, operating income increased 180% to $498 million and earnings per diluted share ("diluted EPS") grew 45% to $0.16.
The net sales of $2.50 billion in the first quarter of 2019 declined 1.1%, compared to Adjusted pro forma net sales of $2.53 billion in the prior year period, reflecting strong underlying net sales growth of 2.5% that was more than offset by the expected unfavorable impacts of changes in the Keurig Dr Pepper's Allied Brands portfolio, as well as calendar timing that affected year-over-year comparisons—namely, the shift of Easter into the second quarter of 2019 and one less shipping day this year in the first quarter.
Adjusted diluted EPS increased 32% to $0.25 in the first quarter, compared to Adjusted pro forma diluted EPS of $0.19 in the year-ago period. ■