Keurig Dr Pepper Backs FY21 Earnings Growth View; Raises Sales Forecast

(RTTNews) - While announcing strong first-quarter results on Thursday, beverage company Keurig Dr Pepper Inc. (KDP) reaffirmed its guidance for fiscal 2021 adjusted earnings per share growth of 13 percent to 15 percent.

The company further increased its outlook for 2021 constant currency net sales growth to 4 percent to 6 percent, from the prior net sales guidance of 3 percent to 4 percent.

Chairman and CEO Bob Gamgort said, "We delivered an exceptional first quarter, driving double-digit net sales and earnings growth, behind outstanding in-market execution. Looking forward, we see an improving, but volatile, macro environment marked by increasing consumer mobility and rising inflationary headwinds. We remain focused on delivering our business plan, with increased net sales growth expectations and growing confidence in achieving our Adjusted diluted EPS growth target of 13 percent to 15 percent for the year, and we plan to reinvest any earnings upside in the business to drive future growth."

In pre-market activity on Nasdaq, Keurig Dr Pepper shares were gaining around 0.7 percent to trade at $35.45.