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Keurig Dr Pepper beats Street expectations in Q2, reaffirms FY'19 guidance

Keurig Dr Pepper Inc. reported second-quarter earnings Aug. 8 that beat Street expectations as the company maintained its guidance for 2019.

The company reported adjusted diluted EPS for the quarter ended June 30 of 30 cents, beating the S&P Global Market Intelligence mean consensus estimate for normalized EPS of 29 cents. Keurig Dr Pepper's adjusted pro forma diluted EPS from the year-ago period was 26 cents.

Keurig Dr Pepper was formed by the July 2018 merger between Dr Pepper Snapple Group Inc. and Keurig Green Mountain. Year-ago comparisons to adjusted figures assume the merger was completed Dec. 31, 2016, according to the company.

Adjusted net income rose approximately 19% to $423 million, which was above the Market Intelligence estimate for net income excluding exceptions of $411 million. Adjusted pro forma net income from the year-ago period was $356 million.

The company reaffirmed its expectations of adjusted diluted EPS growth of 15% to 17% for 2019.

Net sales for the quarter dipped 0.4% to $2.81 billion, compared to the adjusted pro forma figure of $2.82 billion from one year earlier.

Shares of the beverage-maker were up 1.8% in premarket trading to $28.10. Keurig Dr Pepper reported results before U.S. markets opened Aug. 8.