Keurig Dr Pepper misses revenue expectations in Q3, stock slips

Investing.com -- Keurig Dr Pepper (NASDAQ:KDP) shares fell more than 1% in premarket trading Thursday after the company reported Q3 revenue below analyst estimates.

The beverage and coffeemaker posted third-quarter earnings per share (EPS) of $0.51, in line with the consensus estimates. Revenue for the period totaled $3.89 billion, slightly below the consensus estimate of $3.92 billion.

US Refreshment Beverages posted net sales of $2.39 billion for the quarter, also aligning with expectations.

For fiscal 2024, KDP reaffirmed its guidance, expecting mid-single-digit growth in constant currency net sales and high-single-digit growth in adjusted diluted EPS.

"Three quarters into the year, we remain on track to achieve our full year outlook, while notching significant progress against our multi-year strategic agenda,” said CEO Tim Cofer in a statement.

“In Q3, we were encouraged by further improvement in our volume/mix performance despite a muted operating environment, and also demonstrated building cost discipline throughout the organization.”