Beverage company Keurig Dr Pepper (KDP) has released second-quarter financial results that matched forecasts on Wall Street.
The Plano, Texas-based company that makes drinks such as Snapple, Canada Dry, Sunkist and Dr. Pepper reported earnings per share (EPS) of $0.45 U.S., which was inline with estimates.
Revenue of $3.92 billion U.S. also matched the consensus expectation of analysts. Sales rose 3.5% from a year earlier.
The company said its sales volume, which excludes pricing and currency changes, increased 1.8% during Q2, while its overall prices were raised by 1.6% from a year ago.
Keurig Dr Pepper recently overtook PepsiCo (PEP) as the second most consumed soft drinks in the U.S., trailing only Coca-Cola (KO).
The coffee unit of Keurig Dr Pepper saw sales decline 2.1% to $1 billion U.S. in Q2, the result of a 2.9% decline in pricing. Shipments of its K-Cup pods were flat during the period.
However, the company’s international sales rose 15.5% in Q2 amid a strong push to grow beyond the American market.
International sales currently account for less than a sixth of Keurig Dr Pepper’s annual revenue.
In terms of guidance, the company reiterated its full-year outlook of revenue growth in the mid-single digit range and earnings per share growth in the high-single digits.
Before today (July 25), Keurig Dr Pepper’s stock had risen 1% over the last 12 months to trade at $32.77 U.S. per share.
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