Keurig Dr Pepper earnings (NYSE:KDP) were strong for the company’s latest quarter, but KDP stock still took a hit late in the day even though it had performed well during regular trading hours.
The beverage maker said that for its third quarter of fiscal 2018, which it reported after the markets closed, it brought in adjusted earnings of 30 cents per share. The figure was stronger than the 27 cents per share that the Wall Street consensus estimate called for, according to the Zacks Investment Research guidance.
The Keurig Dr Pepper earnings report also received a boost from the company’s strong revenue showing, which reached $2.86 billion for the period. Analysts were calling for the company to amass sales of $2.83 billion, according to the Zacks outlook.
Its adjusted beverage concentrate sales gained 3.1% to $331 million due to an increase in pricing and shipment volumes. Packaged beverage sales surged 4.9$ to $1.34 billion, while adjusted coffee system sales gained 0.4% to $1.05 billion.
However, a lower price realization offset Keurig Dr Pepper’s 3% volume gain for pods and 8% pop for brewers. The company sees its fiscal 2018 earnings in the range of $1.02 to $1.07 per share, in line with the $1.04 per share that analysts predict.
KDP stock was down about 3.7% after the bell on Tuesday as the company’s quarterly earnings fell year-over-year and a lower price realization took a bite off its otherwise impressive quarter. Shares had been surging more than 1.5% during regular trading hours in anticipation of the company’s results.