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Keurig Dr Pepper Inc.
2/22/2024
Good morning, ladies and gentlemen, and thank you for standing by. Welcome to Keurig Dr. Pepper's earnings call for the fourth quarter of 2023. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. This conference call is being recorded, and there will be a question and answer session at the end of the call. To ask a question, you may press star, then one on your telephone keypad. To withdraw your question, please press star, then two. I would now like to introduce the company's Vice President of Investor Relations and Strategic Initiatives, Jane Gelfand.
Ms. Gelfand, you may begin.
Thank you and hello, everyone. We appreciate your attention, recognizing that many of you are also attending an industry conference. Earlier this morning, we issued a press release detailing our fourth quarter and full year results, which we will discuss during this conference call. Before we get started, I'd like to remind you that our remarks will include forward-looking statements which reflect KDP's judgment, assumptions, and analysis only as of today. Our actual results may differ materially from current expectations based on a number of factors affecting KDP's business. Except as required by law, we do not undertake any obligation to update any forward-looking statements discussed today. For more information, please refer to our earnings release and the risk factors discussed in our most recent 410K, which will be filed with the SEC later this morning. We will also discuss non-GAAP measures of our performance. Definitions and reconciliations to the most directly comparable GAAP metrics are included in our earnings release. We will also speak about the concept of underlying performance, which removes the impact of non-operational items in the current and prior years. These items include gains on asset sale leaseback transactions, reimbursement of litigation expenses related to the successful resolution of our body armor lawsuit, a business interruption insurance recovery, and a change in accounting policy for stock compensation. Here with us today to discuss our results are KDP Chairman and CEO Bob Gamgort, Chief Operating Officer Tim Cofer, and Chief Financial Officer and President International Sudhanshu Priyadarshi. I'll now turn it over to Bob.
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