Keurig Dr Pepper delivered robust performance in 2024 with strong growth in U.S. Refreshment Beverages and strategic acquisitions in the energy segment. However, challenges in the U.S. Coffee segment and inflationary pressures somewhat offset these gains. The overall outlook for 2025 remains optimistic, with plans to navigate inflation and continue strategic growth.

Company Guidance

In the earnings call, Keurig Dr Pepper provided detailed guidance for 2025, highlighting expectations for mid-single-digit net sales growth and high single-digit earnings per share growth on a constant currency basis, despite facing a 1-2% currency headwind. The company aims to leverage strong momentum in U.S. refreshment beverages and international segments, coupled with incremental contributions from the GHOST acquisition. Keurig Dr Pepper anticipates robust productivity and overhead discipline will drive operating income gains, with interest expenses expected between $680 million to $700 million and an effective tax rate of 22-23%. They also forecast a free cash flow improvement over the $1.7 billion generated in 2024, supporting their capital allocation strategy, including dividend growth and debt reduction. Notably, the first quarter of 2025 is expected to be impacted by fewer shipping days and a later Easter, with sales and EPS growth anticipated to accelerate in subsequent quarters.

Record-Breaking Revenue and Growth

Keurig Dr Pepper (KDP) reported a 4% growth in constant currency net sales and 8% EPS growth for the full year 2024, consistent with their long-term algorithm.

Strong Performance in U.S. Refreshment Beverages

U.S. Refreshment Beverages segment delivered a 10% net sales growth in Q4 2024, led by a high-single-digit volume mix increase and strong performance from CSD brands like Dr Pepper and Canada Dry.

Expansion and Innovation in Energy Segment

KDP acquired GHOST, an emerging brand in the energy category, contributing to a 6% market share in energy drinks. The company aims for a double-digit market share in the coming years.

Significant Free Cash Flow Generation

In 2024, KDP generated $1.7 billion in free cash flow, funding $1.1 billion of share buybacks and strategic investments, including the acquisition of GHOST.

Successful Innovation and Brand Building

Dr Pepper Creamy Coconut became the largest limited-time offering ever, and Dr Pepper achieved its eighth consecutive year of market share growth.

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Keurig Dr Pepper (DE:DP5) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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DE:DP5 Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Apr 24, 2025	2025 (Q1)	0.37 / -	0.366	―	―	―
Feb 25, 2025	2024 (Q4)	0.55 / 0.56	0.53	5.45% (+0.03)	―
Oct 24, 2024	2024 (Q3)	0.49 / 0.49	0.462	6.25% (+0.03)	―
Jul 25, 2024	2024 (Q2)	0.43 / 0.43	0.404	7.14% (+0.03)	―
Apr 25, 2024	2024 (Q1)	0.33 / 0.37	0.327	11.76% (+0.04)	―
Feb 22, 2024	2023 (Q4)	0.52 / 0.53	0.481	10.00% (+0.05)	―
Oct 26, 2023	2023 (Q3)	0.45 / 0.46	0.443	4.35% (+0.02)	―
Jul 27, 2023	2023 (Q2)	0.39 / 0.40	0.376	7.69% (+0.03)	―
Apr 27, 2023	2023 (Q1)	0.32 / 0.33	0.318	3.03% (<+0.01)	―
Feb 23, 2023	2022 (Q4)	0.48 / 0.48	0.433	11.11% (+0.05)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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DE:DP5 Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Feb 25, 2025	€32.66	€33.12	+1.38%
Oct 24, 2024	€33.58	€31.90	-5.00%
Jul 25, 2024	€29.54	€30.27	+2.47%
Apr 25, 2024	€29.56	€30.66	+3.73%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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