Keurig Dr Pepper Inc. (KDP) reported results for the fourth quarter and full year ended December 31, 2024, noting strong sales and performance over the past year.
Looking at just the fourth quarter, KDP saw net sales increase 5.2% to $4.1 billion.
U.S. refreshment beverage net sales for the fourth quarter increased 10.3% to $2.4 billion. The performance “reflected strong base business momentum, primarily led by CSDs, as well as the contribution from Electrolit.”
On the earnings call, KDP CEO Tim Cofer stated: “Dr Pepper Creamy Coconut was our largest limited-time offering ever and generated significant buzz. We capitalized on the dirty soda cultural phenomenon powered by social media, which helped drive our eighth consecutive year of market share growth for Dr Pepper. Canada Dry’s first brand extension in years, Fruit Splash Cherry, was the number one innovation in the CSD category.”
Speaking about the energy segment, Cofer said: “We feel good that we’ve constructed a portfolio that has a right to win in energy. I remind you what I said in the prepared remarks three years ago, KDP’s share in energy was basically zero. Sitting here today, it’s over 6%, well over $1 billion in retail sales. And as I’ve said, we’ve got a double-digit share goal in the years ahead.”
Cofer said that KDP’s energy portfolio is “a series of complementary brands that can really target distinct consumer cohorts and demand spaces.” Cofer cited C4, “our large anchor brand today in the performance space;” KDP’s partnership with Black Rifle; a distribution deal with Bloom, “a female-forward brand with a very strong following;” and the recently acquired Ghost. “As we get deeper and deeper with Ghost, we feel great about this deal. I think it’s an attractive asset.”
Earlier this month, KDP unveiled its 2025 new flavor lineup in the United States. New flavors included Dr Pepper blackberry, 7UP tropical, and A&W ice cream sundae. On the call, Cofer noted that “Dr Pepper Blackberry marks the first time we are simultaneously introducing an innovation across bottles and cans, fountain and frozen to maximize availability across various formats that our consumers enjoy.”