Concentrates and Coffee Boost Keurig Dr Pepper in the Third Quarter
Keurig Dr Pepper (NYSE: KDP) crossed over the one-year anniversary of the merger of Dr Pepper Snapple Group and Keurig Green Mountain early in the third quarter of 2019. The beverage conglomerate's quarterly scorecard highlights the advantage of combining packaged coffee and beverages businesses: In a middling quarter for bottled beverages, concentrates and coffee helped push total revenue into positive territory against the prior year.
As a result, a marginally higher top line surpassed investors' expectations, and the consumer staples stalwart displayed effervescence Thursday following the release, with shares gaining 8% on the session at midday.
Note that all comparative numbers that follow refer to the prior-year quarter, on a pro forma basis (i.e., combining prior-year results for Dr Pepper Snapple Group and Keurig Green Mountain).
Source Fool.com
