Keurig Dr Pepper Inc. (KDP) CEO Bob Gamgort on Q2 2022 Results - Earnings Call Transcript

Keurig Dr Pepper Inc. (NASDAQ:KDP) Q2 2022 Earnings Conference Call July 28, 2022 8:00 AM ET

Company Representatives

Bob Gamgort - Chairman, Chief Executive Officer

Ozan Dokmecioglu - Chief Financial Officer, President of International

Maria Sceppaguercio - Chief Corporate Affairs Officer

Chethan Mallela - Senior Director of IR

Steve Alexander - Vice President of Investor Relations

Conference Call Participants

Bryan Spillane - Bank of America

Bonnie Herzog - Goldman Sachs

Kevin Grundy - Jeffries

Lauren Lieberman - Barclays

Chris Carey - Wells Fargo Securities

Brett Cooper - Consumer Edge Research

Andrea Teixeira - JP Morgan

Steve Powers - Deutsche Bank

Robert Ottenstein - Evercore

Operator

Good morning, ladies and gentlemen, and thank you for standing by. Welcome to the Keurig Dr Pepper’s Earnings Call for the Second Quarter of 2022. All participants will be in listen-only mode. [Operator Instructions]. This conference call is being recorded and there will be a question-and-answer session at the end of the call.

I would now like to introduce Keurig Dr Pepper's Vice President of Investor Relations, Mr. Steve Alexander. Mr. Alexander, please go ahead.

Steve Alexander

Thank you! And hello everyone! Thanks for joining us. Let me start this morning by introducing our new Senior Director of IR, Chethan Mallela who joined us in May. Many of you may know Chethan from his six years working on the sales side with Andrew Lazar of Barclays, followed by IR roles over the past few years at American Eagle Outfitters and Peloton. He is a great addition to our team and we believe you will enjoy working with him.

Earlier this morning we issued our press release for the second quarter of 2022. If you need a copy you can get one on our website in the Investors Section. Consistent with previous quarters, today we'll be discussing our performance on an adjusted basis, excluding items affecting comparability.

Beginning last quarter, you may recall that we began excluding the impact of foreign currency translation from our adjusted results. The company believes that the adjusted basis provides investors with additional insight into our business and operating performance trends. While the exclusion of items affecting comparability is not in accordance with GAAP, we believe that the adjusted basis provides meaningful comparisons and an appropriate basis for discussion of our performance.

Details of the excluded items are provided in the reconciliation tables included in our press release and our 10-Q, which will be filed later today. Due to the inability to predict the amount and timing of certain impacts outside of the company's control, we do not reconcile our guidance.