Keurig Dr Pepper Inc (0Z62.L) Q1 2025 Earnings Report

Keurig Dr Pepper (0Z62.L) delivered a resilient QQ1 2025 with revenue of $3.6355 billion, up 4.82% year-over-year, and a solid gross margin of 52.4%. Despite a -10.7% quarter-on-quarter revenue drop, the company posted an operating margin of 21.2% and a net margin of 14.2%, driven by stable pricing, favorable mix, and ongoing cost discipline. Net income reached $517 million and diluted EPS was $0.38, supported by EBITDA of $942 million. Free cash flow was modest at $89 million, with operating cash flow of $209 million and capital expenditures of $120 million, reflecting disciplined capital allocation and a cash conversion cycle that benefits from extended payables terms.