Keurig Dr Pepper Inc. (NYSE: KDP) reported Q2 EPS of $0.33, $0.02 better than the analyst estimate of $0.31. Revenue for the quarter came in at $2.86 billion versus the consensus estimate of $2.81 billion.

Commenting on the announcement, Chairman and CEO Bob Gamgort stated, "Since its formation in 2018, KDP has delivered strong and balanced financial performance. Our second quarter results demonstrated the ability of our broad beverage portfolio, unique routes to market and culture of execution to deliver growth in the most challenging of environments. I am proud of and grateful for our 26,000 employees who have stepped up in the face of adversity to deliver for our customers, consumers and communities, while supporting each other during this uncertain time. Despite the expectation for significant volatility ahead, we remain confident in both our business model and organization to continue to execute well to deliver on the guidance we reaffirmed today."

GUIDANCE:

Keurig Dr Pepper Inc. sees FY2020 EPS of $1.38-$1.40, versus the consensus of $1.38.

Given the Company's diverse brand portfolio and extensive distribution network, which combined, have enabled the Company to successfully navigate the volatility caused by COVID-19 to date, the Company has confidence in its ability to deliver continued growth in the second half of the year.

Specifically, for the full-year 2020, KDP continues to expect constant currency net sales growth in the range of 3% to 4%. The Company also continues to expect full-year 2020 Adjusted diluted EPS growth in the range of 13% to 15%, or $1.38 to $1.40 per diluted share, given the significant visibility and control the Company maintains over its cost structure, including strong cost management, productivity programs and merger synergies. Finally, the Company continues to expect its management leverage ratio in the range of 3.5x to 3.8x at year end 2020 and its management leverage ratio to be below 3.0x within two to three years of the July 2018 merger closing.

For earnings history and earnings-related data on Keurig Dr Pepper Inc. (KDP) click here.