Keurig Dr Pepper misses revenue expectations in Q3, stock slips

Investing.comOct 24, 2024 12:02 PM

View all comments（0）



Investing.com -- Keurig Dr Pepper (NASDAQ:KDP) shares fell more than 1% in premarket trading Thursday after the company reported Q3 revenue below analyst estimates.

The beverage and coffeemaker posted third-quarter earnings per share (EPS) of $0.51, in line with the consensus estimates. Revenue for the period totaled $3.89 billion, slightly below the consensus estimate of $3.92 billion.

US Refreshment Beverages posted net sales of $2.39 billion for the quarter, also aligning with expectations.

For fiscal 2024, KDP reaffirmed its guidance, expecting mid-single-digit growth in constant currency net sales and high-single-digit growth in adjusted diluted EPS.

"Three quarters into the year, we remain on track to achieve our full year outlook, while notching significant progress against our multi-year strategic agenda,” said CEO Tim Cofer in a statement.

“In Q3, we were encouraged by further improvement in our volume/mix performance despite a muted operating environment, and also demonstrated building cost discipline throughout the organization.”

Disclaimer: The information provided on this website is for educational and informational purposes only and should not be considered financial or investment advice.

Comments (0)

Click the $ button, enter the symbol, and select to link a stock, ETF, or other ticker.

Commenting Guidelines

Recommended Articles

Alphabet Shares Plunge 8% After Hours as Q3 Revenue, Net Income Miss Estimates, Free Cash Flow Hits Negative $9.065 Billion

On October 28, Google parent company Alphabet (GOOGL) (GOOG) reported its third-quarter 2026 financial results, with Google Cloud revenue doubling to drive a 25% increase in group revenue and a 30% rise in operating profit. However, total revenue fell slightly short of market expectations, losses on securities investments dragged down net profit, and expanding capital expenditures led to a second consecutive quarter of negative free cash flow.

Tesla Stock Forecast: TSLA Triangle Breakout Targets $411.90 as Cybercabs Overtake Model Ys

TradingKey - Tesla stock forecast: TSLA breaks out of a triangle above $388.85 as Cybercabs overtake Model Ys in Texas, with $411.90 the next hurdle on the 4-hour chart.

Micron Rises Over 3% Pre-Market as Musk Predicts Robot Memory Demand Will Surpass Other Sectors

TradingKey - In pre-market trading on October 28 ET, as of press time, Micron Technology (MU) rose 3.8% to $964.02.

SK Hynix Surges Over 4% as Q3 Results Hit Record High, Returning $75 Billion to Shareholders

SK Hynix reported a record-breaking Q3 operating profit while announcing a massive 100 trillion won (approximately $75 billion) shareholder return plan, sending its stock price surging 4%.

US Stocks Close: Nasdaq Rises Over 1%, Philadelphia Semiconductor Index Gains Over 3%; Chip Stocks Extend Rally, CoreWeave Gains Nearly 8%

On Tuesday, October 27, Eastern Time, U.S. stocks moved higher, with chip stocks extending their rally to drive the Nasdaq to lead the gains. Amid falling oil prices, investors continued to assess a heavy slate of corporate earnings reports while focusing on the Federal Reserve's interest rate meeting. At the close, the Dow Jones Industrial Average rose 0.03% to 52,377.57 points; the Nasdaq Composite Index gained 1.18% to 26,477.81 points; and the S&P 500 Index advanced 0.60% to 7,722.60 points.

Featured Tools