Name: Keurig Dr Pepper Inc. (NASDAQ:KDP) | Income Statement (Quarterly)
Creator: Stock Analysis on Net

Income Statement
Quarterly Data

The income statement presents information on the financial results of a company business activities over a period of time. The income statement communicates how much revenue the company generated during a period and what cost it incurred in connection with generating that revenue.

Download chart

Keurig Dr Pepper Inc., consolidated income statement (quarterly data)

US$ in millions

3 months ended:	Jun 30, 2022	Mar 31, 2022	Dec 31, 2021	Sep 30, 2021	Jun 30, 2021	Mar 31, 2021	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Net sales	3,554)	3,078)	3,391)	3,250)	3,140)	2,902)	3,121)	3,020)	2,864)	2,613)	2,934)	2,870)	2,812)	2,504)
Cost of sales	(1,778)	(1,428)	(1,619)	(1,415)	(1,370)	(1,302)	(1,353)	(1,316)	(1,302)	(1,161)	(1,241)	(1,245)	(1,186)	(1,106)
Gross profit	1,776)	1,650)	1,772)	1,835)	1,770)	1,600)	1,768)	1,704)	1,562)	1,452)	1,693)	1,625)	1,626)	1,398)
Selling, general and administrative expenses	(1,204)	(1,018)	(1,113)	(1,040)	(1,039)	(961)	(1,000)	(949)	(1,001)	(1,028)	(1,011)	(1,012)	(1,028)	(911)
Gain on litigation settlement	—)	299)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Impairment of intangible assets	—)	—)	—)	—)	—)	—)	(67)	—)	—)	—)	—)	—)	—)	—)
Other operating income (expense), net	—)	35)	66)	—)	3)	1)	(1)	(2)	—)	42)	31)	(33)	(11)	11)
Income from operations	572)	966)	725)	795)	734)	640)	700)	753)	561)	466)	713)	580)	587)	498)
Interest expense	(175)	(188)	(119)	(116)	(125)	(140)	(146)	(148)	(157)	(153)	(157)	(158)	(170)	(169)
Loss on early extinguishment of debt	(169)	(48)	—)	—)	—)	(105)	—)	—)	(2)	(2)	(2)	—)	—)	(9)
Gain on sale of equity method investment	—)	50)	524)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Impairment of investments and note receivable	(6)	(6)	(17)	—)	—)	—)	—)	(16)	—)	(86)	—)	—)	—)	—)
Other income (expense), net	(9)	(9)	(4)	(1)	4)	3)	4)	(5)	4)	(20)	(4)	(9)	(1)	(5)
Income before provision for income taxes	213)	765)	1,109)	678)	613)	398)	558)	584)	406)	205)	550)	413)	416)	315)
(Provision) benefit for income taxes	5)	(180)	(266)	(149)	(165)	(73)	(130)	(141)	(108)	(49)	(144)	(109)	(102)	(85)
Net income including non-controlling interest	218)	585)	843)	529)	448)	325)	428)	443)	298)	156)	406)	304)	314)	230)
Net loss attributable to non-controlling interest	—)	—)	—)	1)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)
Net income attributable to KDP	218)	585)	843)	530)	448)	325)	428)	443)	298)	156)	406)	304)	314)	230)

Based on: 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Net sales exhibited a consistent long-term upward trajectory, increasing from 2,504 million in March 2019 to 3,554 million by June 2022. While periodic quarterly fluctuations occurred—most notably a contraction in March 2020—the overall growth trend remained positive across the analyzed timeframe.

Gross Profit and Margin Trends: Gross profit generally tracked with revenue growth, though evidence of margin compression emerged in the latter part of the period. In June 2022, cost of sales reached a peak of 1,778 million, which limited gross profit to 1,776 million despite record net sales. This indicates a rise in the cost of goods sold relative to revenue compared to the margins observed in 2019.
Operating Expenses and Efficiency: Selling, general and administrative expenses remained relatively stable, typically fluctuating around the 1 billion mark per quarter. However, a significant increase to 1,204 million was recorded in June 2022, contributing to a decrease in operating income for that period. Income from operations showed volatility, peaking at 966 million in March 2022, largely bolstered by a one-time litigation settlement gain of 299 million.
Non-Operating Items and Financial Volatility: The bottom line was significantly influenced by non-recurring items. A substantial gain on the sale of an equity method investment in December 2021 (524 million) and March 2022 (50 million) created artificial spikes in net income. Conversely, losses on the early extinguishment of debt became more pronounced toward the end of the period, reaching 169 million in June 2022. Impairments of intangible assets and investments also caused sporadic downward adjustments to earnings, such as the 67 million impairment in December 2020.
Net Income Analysis: Net income attributable to the company demonstrated high volatility due to the aforementioned non-operating gains and losses. While the baseline net income showed growth from 2019 through 2021, the peak of 843 million in December 2021 was driven by investment gains rather than core operational performance. By June 2022, net income declined to 218 million, reflecting the combined impact of higher operating costs and debt extinguishment losses.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.
Without a user account, I tend to respond rather slowly.

How can I help you?

Keurig Dr Pepper Inc. (NASDAQ:KDP)

Income StatementQuarterly Data

Income Statement
Quarterly Data