The following is a summary of the Keurig Dr Pepper Inc. (KDP) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Keurig Dr Pepper reported solid consolidated sales growth and double-digit EPS growth in Q1 2024.

• Executed a $1.1 billion buyback of 38 million KDP shares, marking its largest quarterly share repurchase.

• Q1 gross margin expanded significantly, primarily backed by strong productivity.

• Operating income grew by 17.5% year-over-year.

• Keurig Dr Pepper Inc predicts operating profit to be constrained by net headwind contributions from 'below-the-line' items and expects full-year interest expenses in the range of $625 million to $645 million.

Business Progress:

• Unveiled the new Keurig brewing system expected to redefine consumer coffee brewing habits.

• Strong innovation plans for the existing K-Cup system in 2024.

• Introduced a new enterprise strategy for growth along with a new appointed CEO.

• New partnerships with Lavazza, Brooklyn Roasting Company, Kahawa 1893 coffee, Ticking Horse, and Black Rifle Coffee to broaden product portfolio.

• -Launched initiatives like Dr. Pepper Creamy Coconut and the restaging of WonderWater expected to produce positive future results.

• Strong Q1 performance gives visibility to the company's unchanged full-year growth outlook.

• KDP aims to unlock future shareholder value through evolving strategies like stabilizing price points, marketing and innovation in their owned and licensed brands.

More details: Keurig Dr Pepper IR

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