Keurig Dr Pepper Inc - KDP STOCK NEWS

Keurig Dr Pepper (NASDAQ: KDP) reported a strong Q3 2020, with net sales rising 5.2% to $3.02 billion and diluted EPS increasing to $0.31 from $0.21 year-over-year. Adjusted diluted EPS grew 22% to $0.39. Key growth drivers included a 6.6% volume/mix increase and continued market share expansion across beverages. Operating income surged 29.8% to $753 million. The company anticipates finishing 2020 at the high end of its guidance, projecting net sales growth of 3-4% and adjusted EPS growth of 13-15% while reducing its leverage ratio. COVID-19 impact included $49 million in related costs.

Keurig Dr Pepper (NASDAQ: KDP) has entered into a partnership with The Honickman Companies to sell and distribute popular brands like Canada Dry and Sunkist across 18 counties in New York and New Jersey, serving approximately 17 million residents. This agreement is set to double KDP's volume in the region, enhancing its direct-store-delivery operations. KDP President, Derek Hopkins, expressed enthusiasm for the expansion, emphasizing its potential to strengthen retail partnerships. The specifics of the agreement's financial terms remain undisclosed.

Keurig Dr Pepper Inc. (NASDAQ: KDP) has announced significant changes to its Executive Leadership Team, effective November 1, 2020. These changes aim to enhance operational efficiency and better position the company for future growth, following successful merger metrics. Key appointments include Fernando Cortes overseeing beverage concentrate manufacturing in Ireland, Ozan Dokmecioglu managing Canadian and Mexican markets, and Derek Hopkins expanding his role in cold beverage portfolio management. Jim Trebilcock and Andrew Loucks will retire at year's end, marking the end of significant tenures.

Keurig Dr Pepper (KDP) announced its transition to 100% recycled plastic bottles for its Snapple® and CORE® brands, projected to eliminate approximately 46.3 million pounds of virgin plastic annually. This initiative, starting with Snapple in West Coast markets and CORE in early 2021, aligns with KDP's commitment to a circular economy and aims to increase the use of post-consumer recycled materials in company packaging to 30% by 2025. The switch is expected to reduce greenhouse gas emissions by about 30%, equivalent to removing 7,500 cars from the road for a year.

Keurig Dr Pepper (NASDAQ: KDP) will announce its Q3 2020 financial results before market opening on October 29, 2020. A conference call will follow at 8:00 AM ET that day for discussions with investors and analysts. Call access is available at (855) 706-1600 in the U.S. and Canada, and (615) 622-8563 internationally, using conference ID: 1788948. A replay will be available until November 12, 2020. Investors can also access a live audio webcast on the company’s corporate website.

Keurig Dr Pepper (NASDAQ: KDP) announced participation in an investor call on September 29, 2020, at 10:00 AM ET, hosted by BofA Securities and Morgan Stanley. The call will feature management discussing current business trends and the outlook for the remainder of the year, unchanged since the July 30, 2020 quarterly earnings report. A live webcast will be accessible via the company's website. KDP generates over $11 billion in annual revenue and holds leadership in beverage categories across North America.

Keurig Dr Pepper (KDP) has declared a quarterly cash dividend of $0.15 per share, set to be paid on October 16, 2020. Shareholders of record as of October 2, 2020 will receive this dividend. KDP is a leading beverage company in North America, generating over $11 billion in annual revenue and employing nearly 26,000 individuals. The company offers a diverse portfolio including popular brands like Dr Pepper and Keurig. Their commitment to sustainability is evident through initiatives aimed at responsible sourcing and efficient resource use.

Keurig Dr Pepper (KDP) has announced that JAB Holdings will convert a portion of its minority partners' interests into directly held shares of KDP. This involves distributing approximately 76 million shares, accounting for about 5.4% of KDP's outstanding stock. Key minority investors, including BDT and Quadrant, intend to remain long-term shareholders, maintaining confidence in KDP's direction and management. Post-distribution, JAB and Maple will hold 44% of KDP, while the public float will increase to 44%. The company continues to generate over $11 billion in annual revenue.

Keurig Dr Pepper (KDP) is set to transfer its stock listing from the New York Stock Exchange to the Nasdaq on September 21, 2020. This significant move positions KDP among the largest companies on Nasdaq, likely ranking within the top 50 of the Nasdaq-100 index. Chairman and CEO Bob Gamgort emphasized this transition as a key milestone for the company's growth and innovation, aligning with the diverse interests of its shareholders. KDP will retain its 'KDP' ticker during this transition.