Keurig Dr Pepper (KDP) reported solid Q4 and full-year 2024 financial results, with net sales increasing 5.2% in Q4 to $4.07 billion and 3.6% for the full year to $15.35 billion. On a constant currency basis, sales rose 6.2% in Q4 and 3.9% for the full year, driven by strong performance in U.S. Refreshment Beverages and International segments.

Adjusted diluted EPS grew 5.5% in Q4 to $0.58 and 7.8% for the full year to $1.92, supported by productivity savings, strong sales, and a lower share count. However, GAAP diluted EPS declined due to $718 million in goodwill and intangible impairments and a $225 million accrual for GHOST distribution termination payments.

Operating cash flow surged 67% for the year to $2.2 billion, while free cash flow rose 82% to $1.7 billion, enabling significant shareholder returns and reinvestments.

Looking ahead to 2025, KDP targets mid-single-digit net sales growth and high-single-digit adjusted EPS growth in constant currency, backed by strong market momentum, productivity improvements, and strategic expansions.

source: Keurig Dr Pepper, February 25, 2025.