Dive Brief:
- Keurig Green Mountain reported a 20% rise in adjusted earnings and a 5.7% rise in revenue, on rising sales for its brewing machines and K-cup coffee pods.
- But the company warned that results from the present quarter will likely be less than anticipated. Keurig said its sales growth will be in the high single digits to low double digits. Analysts have forecast growth of 11%.
- The company also said that the debut of its new hot-drink brewer, which is designed to cut back on counterfeit K-cups, is imminent.
Dive Insight:
Our sense is that the next few months will be crucial for Keurig. First, the company is likely pushing to roll out its new hot brewing platform in time for the Christmas shopping season.
Keurig is also working with Coca-Cola to develop a cold-brewing machine. No one expects to see that on store shelves this year. But pressure to get the machine right will build as the buzz over rival Sodastream's plans grows.