Why Keurig Dr Pepper Stock Jumped Today
Shares of Keurig Dr Pepper (NASDAQ: KDP) started Monday morning's trading session 10.5% higher, backing down to a 6.9% gain by noon ET. The maker and distributor of more than 125 beverage brands had a busy morning, reporting solid third-quarter results in the early hours of its annual investor day.
Let's start with the basic earnings report. Net sales rose 10.7% year over year to $4.31 billion, while adjusted earnings increased 5.9% to $0.54 per diluted share. The bottom-line figure was in line with the analyst consensus estimate, but revenues outperformed the Street target by 3.9%.
Based on these results and ongoing business trends, Keurig Dr Pepper raised its full-year revenue growth target from "mid-single-digit" to "high-single-digit" percentages.
Source Fool.com
