Business
Keurig Dr Pepper Reports Full Year 2021 Results and Successful Delivery of Three-Year Merger Commitments
Company Delivers High Single-Digit Revenue Growth and Double-Digit EPS Growth in 2021 and Affirms Guidance for 2022 BURLINGTON, Mass. and FRISCO, Texas, Feb.
About this update from Keurig Dr Pepper Inc.
[{"type":"text","content":"Company Delivers High Single-Digit Revenue Growth and Double-Digit EPS Growth in 2021 and Affirms Guidance for 2022\n\n\nBURLINGTON, Mass. and FRISCO, Texas, Feb. 24, 2022 /PRNewswire/ -- Keurig Dr Pepper Inc. (NASDAQ: KDP) today reported strong financial results for the fourth quarter and full year ended December 31, 2021 and affirms guidance for 2022. \nReported GAAP Basis\nAdjusted Basis1\nQ4\nFY 2021\nQ4\nFY 2021\nNet Sales\n % vs Prior Year\n % vs Prior Year – Constant Currency\n % vs FY 2019 – Constant Currency\n$3.39 bn\n8.7%\n \n \n$12.68 bn\n9.2%\n \n$3.39 bn\n8.7%\n8.5%\n15.7%\n$12.68 bn\n9.2%\n8.4%\n13.9%\nDiluted EPS\n % vs Prior Year\n % vs FY 2019\n$0.59\n96.7%\n103.4%\n$1.50\n61.3%\n70.5%\n$0.45\n15.4%\n28.6%\n$1.60\n14.3%\n31.2%\nFull-year 2021 highlightsStrong performance in 2021 marked the successful completion of the Company's three-year merger period, with results that met or exceeded all key commitments. Highlights of 2021 performance include:\nPosted high single-digit net sales growth and double-digit Adjusted diluted EPS growth. Grew market share2 in nearly 75% of the Company's cold beverage retail base. Added nearly three million new U.S. households to the Keurig system, bringing total Keurig households to almost 36 million, reflecting successful brewer innovation including the Keurig Supreme Plus Smart – KDP's first connected brewer launch. Improved KDP's management leverage ratio to 2.9x at year-end 2021. Continued to navigate the evolving macro challenges presented by COVID-19 and prioritize and invest in the health and safety of employees. Advanced KDP's corporate responsibility agenda, including adding new goals for Diversity & Inclusion, Positive Hydration, and Regenerative Agriculture.Commenting on the announcement, Chairman and CEO Bob Gamgort stated, \"We finished 2021 with exceptional top-line momentum, driven by robust consumer demand across our portfolio, and our third consecutive year of double-digit Adjusted EPS growth. Despite ongoing macro and COVID-related challenges, we successfully delivered our merger commitments on or ahead of the targets we set four years ago. We head into 2022 with confidence in the stronger, faster-growing business we have built, poised to continue to drive outsized long-term value creation in an environment that we expect to remain challenging for some time.\"\n20...