Keurig Dr Pepper Profit More Than Doubles in 1Q; Sales Rise

By Dieter Holger

Keurig Dr Pepper Inc.'s profit more than doubled in the first quarter as sales of its coffee and sodas rose.

The beverage maker said Thursday that its net income was $325 million in the quarter ended March 31, up from $156 million a year earlier. It booked per-share earnings of 23 cents, compared with 11 cents a share.

The company reported adjusted earnings were 33 cents a share, beating the analyst forecast of 32 cents a share, according to FactSet.

Sales rose to $2.9 billion from $2.61 billion, the company said. Analysts had expected sales of $2.72 billion.

Keurig Dr Pepper has headquarters in Massachusetts and Texas.

Write to Dieter Holger at [e-mail]; @dieterholger

(END) Dow Jones Newswires

04-29-21 0712ET