Keurig Dr Pepper Inc (NASDAQ:KDP) noticed a dip in its share price Thursday, as the latest financial figures were released. reported fourth-quarter FY21 sales growth of 8.7% year-on-year, to $3.39 billion, beating the consensus of $3.30 billion.
Net sales increase reflected strong growth in Packaged Beverages, Beverage Concentrates, and Latin America Beverages.
On a constant currency basis, net sales advanced 8.5% Y/Y and 15.7% versus Q4 2019.
Net sales for Coffee systems were flat, Packaged beverages increased 17.1%, Beverage Concentrates grew 9.2%, and Latin American Beverages climbed 11.8%.
Gross profit rose 0.2% Y/Y to $1.77 billion, with the margin at 52.3%. The operating margin was 21.4%, and operating income for the quarter rose 3.6% to $725 million.
Adjusted EPS of $0.45 was in line with the Street view.
The company held $568 million in cash and equivalents as of December 31, 2021.
Keurig Dr Pepper affirmed guidance for both net sales and Adjusted EPS growth in 2022 in the mid-single-digit range.
KDP shares traded lower by 93 cents, or 2.4% at $37.13 in Thursday’s first hour.