Bulletin: Keurig Dr Pepper Inc. 3Q Earnings Show Continued Deleveraging, Improving Cushion For M&A

NEW YORK (S&P Global Ratings) Oct. 28, 2022—S&P Global Ratings said today that Keurig Dr Pepper Inc. ?s (KDP) third-quarter earnings continued to perform in line with expectations. For the nine months ended Sept. 30, 2022, its top line increased 10.4% year over year, largely reflecting higher prices, positive volume/mix in international beverages, and neutral volume/mix impact in packaged beverages, partially offset by coffee systems volume declines. The lower coffee system volumes occurred primarily in the first half because of reduced pod shipment volumes due to a shortage of pods and a largely anticipated shift to more away-from-home coffee consumption as consumer mobility continued to increase. Still, the higher sales have largely offset cost inflation, enabling adjusted EBITDA to remain

...NEW YORK (S&P Global Ratings) Oct. 28, 2022--S&P Global Ratings said today that Keurig Dr Pepper Inc.'s (KDP) third-quarter earnings continued to perform in line with expectations. For the nine months ended Sept. 30, 2022, its top line increased 10.4% year over year, largely reflecting higher prices, positive volume/mix in international beverages, and neutral volume/mix impact in packaged beverages, partially offset by coffee systems volume declines. The lower coffee system volumes occurred primarily in the first half because of reduced pod shipment volumes due to a shortage of pods and a largely anticipated shift to more away-from- home coffee consumption as consumer mobility continued to increase. Still, the higher sales have largely offset cost inflation, enabling adjusted EBITDA to remain flat based on our preliminary estimates. Lower capital expenditure enabled free operating cash flow (FOCF) to improve more than $200 million, resulting in lower net debt and an estimated debt to EBITDA...

Bulletin