Filing Flows › Keurig Dr Pepper (KDP) › Q1 2025
Keurig Dr Pepper (KDP) Q1 2025 earnings results (first quarter 2025)
10-Q filed Apr 24, 2025
Keurig Dr Pepper (KDP) reported revenue of $3.6B for the first quarter 2025 (Q1 2025), +5% from a year earlier and -11% from the quarter before. Operating margin was 22.0%, net earnings $517M (14.2% of revenue).
Keurig Dr Pepper, Q1 2025: revenue $3.6B (+5% year over year), operating margin 22.0%, net earnings $517M, operating cash flow $209M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $3.6B | -11% | +5% |
| Gross profit | $2.0B | -13% | +2% |
| Operating profit | $801M | 13× | +5% |
| Net earnings | $517M | — | +14% |
| Operating cash flow | $209M | -75% | +146% |
| Free cash flow | $102M | — | — |
What changed
Revenue was $3.6B in Q1 2025, up 5% year over year and down 11% from the previous quarter. LRB was the largest line at 70% of revenue. LRB added $0.19B year over year (up 8%), 113% of the total change. Appliances declined 12%.
Gross margin was 54.6%, down 1.3 points from a year earlier. Operating profit was $0.80B, a 22.0% margin (unchanged year over year). Of the extra revenue versus a year earlier, 22% reached operating profit, below the 22% margin then. Operating expenses grew 1% against revenue growth of 5%. Net earnings were $0.52B, up 14% year over year. The effective tax rate was 21.7%.
Operating cash flow was $0.21B (up 146% year over year), 40% of net earnings. Non-cash charges added back $0.14B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $0.47B. After purchases of property, plant, and equipment, net ($0.11B), free cash flow as the company reports it was $0.10B.
Questions
What was Keurig Dr Pepper's revenue in the first quarter 2025?
Keurig Dr Pepper (KDP) reported revenue of $3.6B for the first quarter 2025 (Q1 2025), +5% from a year earlier and -11% from the quarter before.
Was Keurig Dr Pepper profitable in the first quarter 2025?
Operating profit was $801M (22.0% of revenue) and net earnings $517M.
Source: Keurig Dr Pepper 10-Q on SEC EDGAR.