Keurig Dr Pepper Inc. (NASDAQ: KDP) today reported financial results for the fourth quarter and full year ended December 31, 2020 and provided guidance for 2021.
Keurig Dr Pepper is a conglomerate that owns a number of large coffee brands, including Peets Coffee and of course the eponymous coffee machines. Speaking of their coffee machines, the company attributed their strong results in part to sales of those machines.
Reported GAAP Basis
Adjusted Basis1
Q4
FY 2020
Q4
FY 2020
Net Sales% vs Prior Year % vs Prior Year – Constant Currency
$3.12 bn6.4%6.6%
$11.62 bn4.5%5.0%
$3.12 bn6.4%6.6%
$11.62 bn4.5%5.0%
Diluted EPS % vs Prior Year
$0.303.4%
$0.935.7%
$0.3911.4%
$1.4014.8%
Commenting on the announcements, Chairman and CEO Bob Gamgort stated
KDP again delivered on its annual financial commitments in 2020, capped by a strong fourth quarter with exceptional growth in net sales that was driven by market share gains across our portfolio and accelerated household adoption of the Keurig system. During the year, we implemented robust protocols to keep our employees safe, enhanced our portfolio with innovative new products and strategic partnerships, invested in our supply chain for growth, delivered our corporate responsibility goals and supported our communities.
The company highlighted their performance in part to the addition of three million new households using the Keurig coffee system. As a result, the organisation chose to pay down their financial obligations by $1.1 billion, and retain a cash balance of $240m
