WASHINGTON (dpa-AFX) - Keurig Dr Pepper Inc. (KDP) reaffirmed fiscal 2025 guidance for constant currency net sales growth in a mid-single-digit range and adjusted EPS growth in a high-single-digit range. At current rates, foreign currency translation is forecasted to approximate a one percentage point headwind to full year top- and bottom-line growth.
First quarter GAAP net income increased 13.9% to $517 million, or $0.38 per share, aided by a favorable year-over-year impact of items affecting comparability. Adjusted net income increased 8.5% to $568 million and adjusted EPS increased 10.5% to $0.42. Analysts on average had expected the company to earn $0.38 per share. Analysts' estimates typically exclude special items. Net sales for the first quarter increased 4.8% to $3.6 billion. On a constant currency basis, net sales rose 6.4%.
Also, Keurig Dr Pepper announced changes as part of the continued evolution of its Board of Directors. The company announced the appointments of - Mike Van de Ven and Lawson Whiting - as directors. The company also announced that Bob Gamgort's role has progressed from Executive Chairman to non-executive Chairman of the Board. The changes are effective April 24, 2025.
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