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EXHIBIT 99.1 Keurig DrPepper ™ Keurig Dr Pepper Reports Strong Start to 2021 Delivers Double - Digit Net Sales and Earnings Growth Raises Full - Year Net Sales Guidance and Reaffirms EPS Guidance BURLINGTON , MA and FRISCO , TX ( April 29 , 2021 ) - Keurig Dr Pepper Inc. ( NASDAQ : KDP ) today reported financial results for the first quarter ended March 31 , 2021 and increased its outlook for 2021 net sales growth to 4 % to 6 % , from the Company's prior net sales guidance of 3 % to 4 % . KDP also reaffirmed its guidance for full - year Adjusted diluted EPS growth of 13 % to 15 % . Net sales in the first quarter of 2021 advanced approximately 11 % on both a GAAP and constant currency basis , with each of the Company's business segments reporting strong growth . GAAP diluted earnings per share more than doubled to $ 0.23 and Adjusted¹ diluted EPS grew to $ 0.33 , a double - digit increase versus year - ago . Commenting on the announcement , Chairman and CEO Bob Gamgort stated , " We delivered an exceptional first quarter , driving double - digit net sales and earnings growth , behind outstanding in - market execution . Looking forward , we see an improving , but volatile , macro environment marked by increasing consumer mobility and rising inflationary headwinds . We remain focused on delivering our business plan , with increased net sales growth expectations and growing confidence in achieving our Adjusted diluted EPS growth target of 13 % to 15 % for the year , and we plan to reinvest any earnings upside in the business to drive future growth . " First Quarter Consolidated Results Net sales for the first quarter of 2021 increased 11.1 % to $ 2.90 billion , compared to $ 2.61 billion in the year - ago period , driven by strong growth in each business segment , particularly Coffee Systems . On a constant currency basis , net sales advanced 10.8 % , reflecting higher volume / mix of 10.3 % and favorable net price realization of 0.5 % . KDP in - market performance in the quarter remained strong , with retail dollar consumption² advancing 9.4 % across the Company's cold beverage retail base , with particular strength in CSDS³ , premium unflavored water , teas , juice drinks , apple juice , vegetable juice , mixers and coconut water . This performance reflected the strength of Dr Pepper , Canada Dry , A & W , 7UP and Sunkist CSDS , CORE hydration , Snapple teas and fruit drinks , Clamato vegetable juice , Motts apple juice , and Vita Coco . On a two - year stacked basis , consumption of KDP's cold beverage portfolio increased 17 % . In coffee , retail consumption of single - serve pods manufactured by KDP in IRI tracked channels increased 3.9 % in the quarter and dollar market share advanced to 83 % . In untracked channels , accelerated e - commerce growth of K - Cup pods continued in the quarter , more than offsetting declines in the away - from - home office and hospitality businesses . On a two - year stacked basis , retail consumption of single - serve pods manufactured by KDP increased 11 % in IRi tracked channels . 1 Adjusted financial metrics used in this release are non - GAAP . See reconciliations of GAAP results to Adjusted results in the accompanying tables . 2 Retail consumption data based on Keurig Dr Pepper's custom IRi category definitions for the 13 - week period ending 3/28/2021 . 3 CSDS refer to " Carbonated Soft Drinks " . 1