00:00It's Benzinga, bringing Wall Street to Main Street.
00:02Keurig Dr. Pepper beat Wall Street's third quarter earnings and revenue estimates,
00:07driven by steady demand for its higher-priced energy drinks and carbonated soft drinks,
00:12according to Reuters. Adjusted earnings reached $0.66 per share on revenue of $7.34 billion,
00:20topping expectations of $0.62 per share and $7.33 billion.
00:24U.S. refreshment beverage volumes rose 7.2 percent, while coffee volumes increased 6.9 percent.
00:32The company reaffirmed its annual forecast, supported by its $18 billion acquisition of JDE Peets.
00:39However, gross margin fell to 48 percent from 54.3 percent a year earlier, reflecting inflation and
00:47higher expenses. Keurig Dr. Pepper shares rose about 1 percent in pre-market trading and have
00:52gained roughly 31 percent this year. For all things money, visit Benzinga.com.
