Soft drink maker Keurig Dr Pepper (NYSE: KDP) reported higher revenues and earnings for the first quarter of 2020. The company’s stock gained soon after the announcement as the results surpassed the forecast.
Net earnings, adjusted for special items, moved up to $0.29 per share from $0.25 per share in the first quarter of 2019. Reported profit, meanwhile dropped to $156 million or $0.11 per share from $230 million or $0.16 per share last year. Net sales rose 4% annually to $2.61 billion. The results also topped expectations.
Shares of Keurig Dr Pepper closed Monday’s regular session lower, but swung to the positive territory following the earnings report. After suffering a massive loss nearly two years ago, the stock is still struggling to regain strength. It has lost 11% since the beginning of the year.
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