Keurig Dr Pepper reports Q4 adjusted EPS 55c, consensus 54c

Reports Q4 revenue $3.87B, consensus $3.91B. Commenting on the results, Chairman and CEO Bob Gamgort stated, “2023 was a year of significant progress for KDP. Broad-based market share gains across our portfolio and entries into attractive white spaces supported our revenue momentum. Gross margin expansion resumed, as the relationship between inflation, pricing, and our redoubled productivity efforts improved throughout the year and helped fund investments in our brands and capabilities. We delivered on our financial commitments while simultaneously enhancing the composition of our earnings profile and strengthening our balance sheet. Gamgort continued, “We now enter 2024 with a high-quality foundation from which to grow, as we target performance in line with our long-term financial algorithm. Moreover, we head into 2024 with confidence and strategic focus, bolstered by our bold challenger culture and a refreshed, energized executive leadership team.”