Keurig Dr Pepper reported first-quarter 2025 net sales of $3.64 billion, an increase of 4.8% year-over-year, or 6.4% on a constant currency basis. Adjusted diluted EPS increased 10.5% to $0.42, driven by adjusted operating income growth and a realized gain on the sale of its investment in Vita Coco.
The U.S. Refreshment Beverages segment was a standout, with net sales surging 11.0% to $2.3 billion, fueled by volume/mix growth of 8.0% and a 2.9 percentage point contribution from the GHOST acquisition. The U.S. Coffee segment faced challenges, with net sales declining 3.7% to $0.9 billion due to a 5.2% volume/mix decline.
The company reaffirmed its fiscal 2025 guidance for constant currency net sales growth in a mid-single-digit range and Adjusted diluted EPS growth in a high-single-digit range. This outlook incorporates changing market conditions and anticipates a one percentage point headwind from foreign exchange translation.
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