Keurig Dr Pepper, the US manufacturer of soft drinks, tea, coffee and coffee machines, saw its revenue increase 1.8-fold in the second quarter, whilst its net profit fell 9.1-fold due to one-off costs.
According to the company’s press release, net profit for April–June stood at $60 million, or $0.04 per share, compared with $547 million, or $0.40 per share, for the same period last year.
This figure takes into account costs associated with the acquisition earlier this year of JDE Peet’s and its integration into Keurig Dr Pepper, the statement said.
Adjusted earnings rose to $0.57 from $0.49 per share.
Revenue rose to $7.31 billion from $4.16 billion a year earlier.
Analysts surveyed by FactSet had, on average, expected adjusted earnings of $0.54 per share on revenue of $7.23 billion.
Excluding the results of JDE Peet’s, revenue rose by 7.3 per cent, driven in particular by a 3.1 per cent increase in sales volumes. JDE Peet’s revenue for the last quarter stood at $2.8 billion.
Sales of coffee and coffee machines in the US fell by 3.2% in April–June to $918 million, whilst sales of beverages (including Dr Pepper and Schweppes) rose by 10% to $2.93 billion.
The company’s revenue from overseas markets rose by 19.6% to $664 million.
Keurig Dr Pepper has confirmed its forecast for 2026 and continues to expect revenue of $25.9–26.4 billion and growth in adjusted earnings per share of more than 10 per cent.
Keurig Dr Pepper’s share price is down 0.7% during Thursday’s trading session. Since the start of the year, the company’s market capitalisation has risen by 9.1 per cent (to $41.8 billion), whilst the Nasdaq Composite index has risen by 13.7 per cent.