Keurig Dr Pepper Inc Stock Price, News & Analysis

Keurig Dr Pepper (NASDAQ: KDP) announced the election of Oray Boston as a Director of its Board, effective November 14, 2022. Boston, who has over 30 years of experience at Johnson & Johnson, held numerous leadership roles that contributed to commercial growth and innovation. His extensive background includes serving as President of Global Biosurgery and Vice President of Sales & Marketing. KDP's Chairman and CEO, Bob Gamgort, stated that Boston's experience would enhance the Board's depth and perspective.

Keurig Dr Pepper Inc. (NASDAQ: KDP) announced the resignation of CEO Ozan Dokmecioglu due to Code of Conduct violations. Bob Gamgort, the Executive Chairman and former CEO, has been reappointed as CEO while continuing as Chairman. The Board expressed gratitude for Gamgort's leadership and vision that have driven KDP's success. KDP, a leading North American beverage company, generates nearly $13 billion in annual revenue and holds significant market positions in various beverage categories.

Keurig Dr Pepper (NASDAQ: KDP) announced a $50 million minority investment in Athletic Brewing Company, the leading non-alcoholic craft beer producer in the U.S. This investment aligns with KDP's strategy to enter emerging beverage categories. By acquiring this stake, KDP joins other prominent investors and gains a seat on Athletic Brewing's Board of Directors. Athletic Brewing has a significant market presence, holding a 55% share in the non-alcoholic craft beer segment, which has seen 20% growth in retail dollars over the past year.

Keurig Dr Pepper Inc. (KDP) reported a strong performance for Q3 2022, with net sales increasing 11.4% to $3.62 billion. All business segments posted growth, with notable contributions from Liquid Refreshment Beverages and Coffee Systems. Adjusted net income rose 4.3% to $656 million, while adjusted EPS increased to $0.46. However, GAAP net income dropped 66% to $180 million due to a non-cash impairment charge. KDP reaffirmed its full-year guidance for low-double-digit net sales growth and mid-single-digit EPS growth.

Keurig Dr Pepper (KDP) announced the appointment of Sudhanshu Priyadarshi as Chief Financial Officer effective November 14, 2022. Priyadarshi brings over 20 years of experience from roles at major companies including PepsiCo and Walmart, most recently serving as CFO at Vista Outdoor. CEO Ozan Dokmecioglu stated that Priyadarshi's financial expertise would be crucial for KDP's growth strategies amid a complex economic environment. KDP, a leading beverage company with nearly $13 billion in annual revenue, aims to leverage Priyadarshi's background to drive organic growth and enhance cash flow management.

Keurig Dr Pepper (KDP) announced a strategic realignment of its supply chain structure to enhance focus and productivity. The company has appointed Roger Johnson as the new Chief Supply Chain Officer, effective October 17, 2022, succeeding Tony Milikin. This realignment involves promotions of senior leaders, aiming to drive operational excellence in coffee and cold beverages. KDP has a significant presence in the North American beverage market with revenues nearing $13 billion and a diverse portfolio including over 125 brands.

Keurig Dr Pepper (NASDAQ: KDP) has announced a strategic partnership with Red Bull to distribute its energy drink products exclusively in Mexico. This partnership allows KDP to leverage its extensive distribution network across independent retailers, including grocery and convenience stores, and to explore future ready-to-drink products from Red Bull. CEO Ozan Dokmecioglu emphasizes the importance of energy drinks in KDP's growth strategy. The collaboration is expected to commence in Q4 2022, enhancing KDP's presence in the energy drink market.

Keurig Dr Pepper (NASDAQ: KDP) will announce its third quarter financial results for the period ending September 30, 2022 before market opens on October 27, 2022. A conference call will follow at 8:00 AM ET to discuss the results with investors and analysts.

To join the call, dial (833) 629-0615 in the U.S. or (412) 317-1824 internationally. A replay will be available from 11:00 AM ET on the same day until November 10, 2022. More details can be found on www.keurigdrpepper.com.

Keurig Dr Pepper (KDP) has announced a 6.7% increase in its annual dividend rate, now at $0.80 per share, up from $0.75. This increase, effective October 14, 2022, alongside a previous rise in February 2021, leads to a total 13.0% boost in cash dividends compared to the previous year. The new quarterly cash dividend of $0.20 per share is payable to shareholders of record as of September 30, 2022.