Keurig Dr Pepper coffee recovery slower than expected, shares fall 5%

Keurig Dr Pepper's coffee business is recovering more slowly than anticipated as consumers trade down to cheaper coffee. Q3 net sales rose 71% to $7.34 billion, boosted by the JDE Peet's acquisition. Adjusted EPS of 66 cents beat estimates. The company maintained its full-year outlook. Shares fell 5%.