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Keurig Dr Pepper's Got the Right Mix of Coffee and Soda

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Keurig Dr Pepper's Got the Right Mix of Coffee and Soda

Keurig Dr Pepper's Got the Right Mix of Coffee and Soda

Coffee and soda appears to be the right combo for Keurig Dr Pepper , which on Thursday posted third-quarter sales that beat analysts' forecasts - and adjusted per-share earnings that matched - on strong demand for its coffee-pod systems and its staple Dr. Pepper and Canada Dry soda beverages.

On a pro-forma basis, which tallies up sales, earnings and expenses as if the two companies were together a year ago, sales came in at $2.87 billion, slightly higher than $2.86 billion recorded for the year-earlier period and the $2.8 billion expected by analysts polled by FactSet.

The merger of Keurig Green Mountain and Dr. Pepper Snapple Group was completed in July 2018.

Adjusted net income, meantime, came in at $451 million, or 32 cents an adjusted share, vs.

Adjusted pro forma net income of $417 million, or 30 cents a share, in the year-ago period, the company said.

Those results matched analysts' forecasts.

The company also reaffirmed its 2019 adjusted per-share earnings growth of between $1.20 and $1.22, with net sales growth of about 3%, at the high end of its long-term post-merger target of 2-3%.

Free cash flow generation is expected to be in the range of $2.3 billion to $2.5 billion, the company said.

Shares of Keurig Dr Pepper gained nearly 3%, or 82 cents a share, to $28.99 in premarket trading on Thursday.

While Keurig Dr. Pepper isn't held by Jim Cramer in his Action Alerts PLUS portfolio, rival Pepsi is a core holding.

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