Cancer Patients Face High Mortality from COVID-19

May 1, 2020

BRONX, N.Y., May 1, 2020 /PRNewswire-HISPANIC PR WIRE/ — People with cancer who develop COVID-19 are much more likely to die from the disease than those without cancer, according to physician-researchers at Montefiore Health System and Albert Einstein College of Medicine. The study, published today in the online edition of Cancer Discovery, is the largest so far to assess outcomes for patients with cancer who have also been infected with COVID-19.

“Our findings emphasize the need to prevent cancer patients from contracting COVID-19 and—if they do—to identify and closely monitor these individuals for dangerous symptoms,” said Vikas Mehta, M.D., M.P.H., a co-lead author of the study, a surgical oncologist at Montefiore and associate professor of otorhinolaryngology—head and neck surgery at Einstein. “We hope that our findings can inform states and communities that have not yet been so severely struck by this pandemic about the unique vulnerability cancer patients face.”

The study involved 218 cancer patients who tested positive for COVID-19 from March 18 to April 8, 2020 at Montefiore Medical Center in the Bronx, New York City, one of the regions in the United States hit hardest by the pandemic. A total of 61 cancer patients died from COVID-19, a dramatically high case-fatality rate of 28%. (The mortality rate for COVID-19 in the United States is 5.8%, according to the World Health Organization.)

“A key element is that mortality appears to be more closely related to frailty, age, and co-morbidities than to active therapy for cancer,” said co-senior author Balazs Halmos, M.D., M.S., director of the Multidisciplinary Thoracic Oncology Program at Montefiore and professor of medicine at Einstein.

“Our data suggest that we should not stop lifesaving cancer therapies, but rather develop strategies to minimize potential COVID-19 exposures and re-evaluate therapies for our most vulnerable cancer populations,” explained co-senior author Amit Verma, M.B.B.S., director of the division of hemato-oncology at Montefiore and professor of medicine and of developmental and molecular biology at Einstein.

The time period during which these patients were treated was earlier in the epidemic when testing was almost exclusively done in sicker, symptomatic patients who required hospitalization. This may partially explain the high fatality rate within the study’s cancer population. However, even when compared to mortality rates in non-cancer patients at Montefiore and across New York City during the same time period, cancer patients demonstrated a significantly higher risk of dying from COVID-19.

As a group, COVID-19 patients with hematologic (blood) cancers, such as leukemia and lymphoma, had the highest mortality rate: 37% (20 of 54 patients). For patients with solid malignancies, the mortality rate was 25% (41 of 164). Striking differences were observed among specific solid cancers: the mortality rate for patients with lung cancer was 55% and colorectal cancer was 38%, compared with mortality rates of 14% for breast cancer and 20% for prostate cancer.

Certain underlying conditions—older age, hypertension, heart disease, and chronic lung disease—were significantly associated with increased mortality among cancer patients with COVID-19.

A detailed analysis of patients with cancer who died from COVID-19 shows that more than half of these individuals—37 of 61—had been in places with a higher risk of exposure to COVID-19, such as nursing homes, hospitals or emergency departments within the 30 days before being diagnosed with COVID-19. This was before widespread social distancing had been implemented.

Montefiore has already changed clinical practice as a result of the study’s findings, by using telemedicine and early and aggressive social distancing for cancer patients, and by opening a dedicated cancer outpatient and inpatient clinical service. It has also instituted bilingual peer counseling and deployed social workers and food deliveries to its at-risk population.

Montefiore is able to quickly identify patients with a known history of cancer who test positive for COVID-19 based on a daily collection and collation of data across the health system. This allows the care team to act immediately to ensure appropriate care for these individuals and track outcomes.

The study’s other co-lead authors are Sanjay Goel, M.B.B.S., and Rafi Kabarriti, M.D. The paper is titled “Case Fatality Rate of Cancer Patients with COVID-19 in a New York Hospital System.”

Additional Montefiore-Einstein authors are: Daniel Cole, M.D., Mendel Goldfinger, M.D., Ana Acuna-Villaorduna, M.D., Kith Pradhan, Ph.D., Raja Thota. M.S., Stan Reissman, M.S.W., Joseph A Sparano, M.D., Benjamin A. Gartrell, M.D., Richard V. Smith, M.D., Nitin Ohri, M.D., Madhur Garg, M.D., Andrew D. Racine, M.D., Ph.D., Shalom Kalnicki, M.D. and Roman Perez-Soler, M.D.

This study was supported in part by the Albert Einstein Cancer Center (P30CA013330).

About Montefiore Health System
Montefiore Health System is one of New York’s premier academic health systems and is a recognized leader in providing exceptional quality and personalized, accountable care to approximately three million people in communities across the Bronx, Westchester and the Hudson Valley. It is comprised of 11 hospitals, including the Children’s Hospital at Montefiore, Burke Rehabilitation Hospital and more than 200 outpatient ambulatory care sites. The advanced clinical and translational research at its medical school, Albert Einstein College of Medicine, directly informs patient care and improves outcomes. From the Montefiore-Einstein Centers of Excellence in cancer, cardiology and vascular care, pediatrics, and transplantation, to its preeminent school-based health program, Montefiore is a fully integrated healthcare delivery system providing coordinated, comprehensive care to patients and their families. For more information please visit www.montefiore.org. Follow us on Twitter and view us on Facebook and YouTube.

About Albert Einstein College of Medicine
Albert Einstein College of Medicine is one of the nation’s premier centers for research, medical education and clinical investigation. During the 2019-20 academic year, Einstein is home to 724 M.D. students, 158 Ph.D. students, 106 students in the combined M.D./Ph.D. program, and 265 postdoctoral research fellows. The College of Medicine has more than 1,800 full-time faculty members located on the main campus and at its clinical affiliates. In 2019, Einstein received more than $178 million in awards from the National Institutes of Health (NIH). This includes the funding of major research centers at Einstein in aging, intellectual development disorders, diabetes, cancer, clinical and translational research, liver disease, and AIDS. Other areas where the College of Medicine is concentrating its efforts include developmental brain research, neuroscience, cardiac disease, and initiatives to reduce and eliminate ethnic and racial health disparities. Its partnership with Montefiore, the University Hospital and academic medical center for Einstein, advances clinical and translational research to accelerate the pace at which new discoveries become the treatments and therapies that benefit patients. Einstein runs one of the largest residency and fellowship training programs in the medical and dental professions in the United States through Montefiore and an affiliation network involving hospitals and medical centers in the Bronx, Brooklyn and on Long Island. For more information, please visit www.einstein.yu.edu, read our blog, follow us on Twitter, like us on Facebook, and view us on YouTube.

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SOURCE Montefiore Health System; Albert Einstein College of Medicine

Prominent neurosurgeon Michael McDermott, M.D., joins Baptist Health South Florida to lead Miami Neuroscience Institute

April 30, 2020

CORAL GABLES, Florida, April 30, 2020 /PRNewswire-HISPANIC PR WIRE/ — Baptist Health South Florida welcomes Michael McDermott, M.D., a world-renowned leader in neurosciences with clinical expertise in the field of meningioma research and gamma knife radiosurgery, as its new chief medical executive of Miami Neuroscience Institute, formerly known as Baptist Health Neuroscience Center.

Dr. McDermott, widely known for advancing neurosurgical techniques, pioneered surgical management of meningioma, a slow-growing tumor in the head that affects the brain. He is an expert in the treatment of a wide variety of neurological disorders, in addition to meningiomas, skull base tumors, brain metastases, gliomas, hydrocephalus, central nervous system infections and complex tumors of the skull base and spinal cord.

“I am delighted to have a colleague of his caliber join our organization,” said Michael Zinner, M.D., chief executive officer and executive medical director at Miami Cancer Institute, part of Baptist Health South Florida. “His expertise will help enhance our collaborative and interdisciplinary approach to research and delivery of the best cancer treatments for our patients.”

Dr. McDermott has conducted leading research that generated more than 400 peer-reviewed publications and comes from the University of California San Francisco (UCSF) Medical Center, ranked by U.S. News & World Report as third in the nation in neurology and neurosurgery, where he was co-director of the Gamma Knife and CyberKnife Radiosurgery Program and held the distinguished Wolfe Family Endowed Professorship in Meningioma Research. In addition to serving as professor and vice chairman of neurological surgery, he is an accomplished educator. As residency program director, he trained young physicians from around the world.

“The arrival of Dr. McDermott to lead Miami Neuroscience Institute represents Baptist Health’s ability to harness the collective expertise of physician leaders and to offer the most innovative, comprehensive and individualized care available to our patients,” said Jack Ziffer, PhD, M.D., executive vice president, chief clinical officer and chief physician executive for Baptist Health South Florida.

Miami Neuroscience Institute provides care at all the Baptist Health facilities, with the exception of Boca Raton Regional Hospital, home to the renowned Marcus Neuroscience Institute, and Bethesda Hospital East and Bethesda Hospital West’s neuroscience programs. For the first several months, Dr. McDermott will focus on working with clinical and administrative leadership to plan and build the infrastructure as well as clinical depth and breadth of the program and set the stage for growth as a destination for neuroscience care.

“The multidisciplinary team approach we have at Baptist Health creates a special synergy between medical specialists from various fields to provide the most advanced care to our patients. This exceptional physician and surgeon will complement the tremendous medical talent that resides within Baptist Health and will continue to grow our national leadership in the treatment of conditions of the brain, spine and nervous system,” added Dr. Ziffer, PhD, M.D.

Miami Neuroscience Institute

Miami Neuroscience Institute, formerly known as Baptist Health Neuroscience Center, offers comprehensive and compassionate treatment for neurological conditions affecting the brain, spinal cord and peripheral nervous system. From non-surgical treatments and minimally invasive procedures to complex brain and spine surgery, the Center embraces a multidisciplinary approach to patient care.

Miami Neuroscience Institute is part of Baptist Health South Florida, the largest healthcare organization in the region, with 11 hospitals, nearly 23,000 employees, more than 4,000 physicians and more than 100 outpatient centers, urgent care facilities and physician practices spanning across Miami-Dade, Monroe, Broward and Palm Beach counties. Baptist Health has internationally renowned centers of excellence in cancer, cardiovascular care, orthopedics and sports medicine, and neurosciences. In addition, it includes Baptist Health Medical Group; Baptist Health Quality Network; and Baptist Health Care On Demand, a virtual health platform. A not-for-profit organization supported by philanthropy and committed to its faith-based charitable mission of medical excellence, Baptist Health has been recognized by Fortune as one of the 100 Best Companies to Work For in America and by Ethisphere as one of the World’s Most Ethical Companies. For more information, visit BaptistHealth.net/Newsroom and connect with us on Facebook, Instagram, Twitter and LinkedIn.

SOURCE Baptist Health South Florida

Mastercard Study Shows Consumers in LAC Make the Move to Contactless Payments

April 30, 2020

Contactless payments trends in Latin America & the Caribbean

MIAMI, April 30, 2020 /PRNewswire-HISPANIC PR WIRE/ — During first quarter of 2020, as many countries imposed necessary restrictions on social distancing, a growing number of consumers in Latin America & Caribbean (LAC) turned to contactless payments for necessary purchases, a new Mastercard study shows. According to the survey, 35% of people in the region have increased their usage of contactless payments, citing simplicity, safety and cleanliness.

Consumer polling by Mastercard paints a picture of accelerated and sustained contactless adoption. This shift in consumer behavior is particularly clear at checkout as people express a desire for contactless cards and concerns over cleanliness and safety at the point of sale, according to the study. In fact, findings of the study show that the impact of social distancing and other safety guidelines on consumer payment behavior is extensive:

56% of Latin Americans said they are more aware of dirtiness of cash.
84% of Latin Americans believe contactless is a cleaner way to pay.

1. Mastercard’s own initiatives, along with the intelligence of its technology, data analytics and investments in security, will continue to propel a world beyond cash. Already, more than half of consumers around the world (63%) are using cash less often, or not at all, since the pandemic began. The same is true in LAC, where on average 66% of consumers are using cash less often, or not at all:

77% of Brazilians indicated that they are using cash less, or not at all, since the pandemic.
61% of Colombians indicated that they are using cash less, or not at all, since the pandemic.
68% of Costa Ricans indicated that they are using cash less, or not at all, since the pandemic.
58% Dominican Republicans indicated that they are using cash less, or not at all, since the pandemic.

2. Consumers are quickly appreciating the benefits of contactless payments with 79% across LAC finding them more secure when compared to keeping or paying with cash. Additionally, regional consumer polling by Mastercard indicated sustained contactless usage with consumers preferring the quick and efficient checkout experience.

78% of Latin Americans indicated they will continue using contactless payments even after the pandemic is over.
The belief was even stronger among those under the age of 35, where 82% of this population indicated continued use post-COVID.

“As we all experience the first global pandemic in an age defined by the digitalization of our lives, contactless card payments have taken on a new urgency. It has been both encouraging and gratifying to see our partners throughout the LAC region adopt the changes and acceleration of contactless. The technology is available, and it’s clear that the change we are witnessing in consumer behavior is here to stay,” said Walter Pimenta, Senior Vice President, Products & Innovation, Mastercard Latin America and Caribbean.

Accelerating faster, cleaner, safer payments
Throughout the world, Mastercard has been spearheading the transition to contactless for more than 15 years, championing it as the simple, safe and fast way to pay. As a region with countries where contactless technologies are a newer experience, LAC has seen a rapid increase in infrastructure, with 75% of point of sale terminals ready to accept contactless transactions, and 60% of financial institutions issuing contactless-enabled cards.

In March, Mastercard led a move to increase the contactless payment limits across the LAC region as people looked for safer ways to pay in the wake of the COVID-19 pandemic. Today, four countries have already raised their contactless payment limits including, Colombia, Argentina, Dominican Republic and Costa Rica, with many others expected to follow soon. The initiative is in line with similar actions taking place around the world as health officials recommend social distancing and a growing number of merchants are encouraging consumers to pay with contactless instead of cash to avoid contact.

“As the spread of COVID-19 highlights the steadfast mindset for ‘contact-free’ environments and experiences in many aspects of our lives, the increased interest in contactless payments is far reaching. We believe in providing consumers with the freedom of choice in how they pay and peace of mind when they pay. With increased convenience and security, we look forward to expanding the contactless footprint more than ever before,” added Pimenta.

Contactless Payments Growth
As consumers increasingly seek out ways to quickly get in and out of stores without touching terminals, Mastercard data reveals over 40% growth in contactless transactions globally in the first quarter of 2020¹. Further, 80% of contactless transactions are under $25, a range that is typically dominated by cash. LAC, a less mature region when it comes to contactless penetration, saw exponential growth, with contactless transactions up 500% overall since March of last year.

While countries worldwide are at different stages of contactless card deployment and usage for daily shopping habits, Mastercard’s insights on grocery and pharmacy trends – two areas where many day-to-day essentials are being purchased – showed that nearly all regions experienced significant spikes in February and March. Further, reinforcing changing behaviors and consumer checkout preferences, Mastercard saw the number of contactless card payments at grocery stores and pharmacies grow twice as fast as non-contactless transactions globally².

Notes to Editors:

¹ Growth calculated as the percentage increase in contactless transactions compared to the percentage increase in non-contactless transactions, comparing March 2020 to March 2019, at Grocery and Pharmacy categories

²Growth calculated as the percentage increase in contactless transactions compared to the percentage increase in non-contactless transactions, comparing March 2020 to February 2020, at Grocery and Pharmacy categories

Survey Methodology

Online interviews of 17,000 consumers in 19 countries worldwide
1,000 banked respondents per country in the US and Canada (North America); Australia, Singapore (Asia Pacific); UAE, Kingdom of Saudi Arabia, South Africa (Middle East and Africa); UK, Italy, France, German, Spain, Poland, Russia, the Netherlands (Europe).
500 banked respondents per country in Brazil, Costa Rica, Dominican Republic, and Colombia (Latin America and the Caribbean)
Research conducted April 10-12, 2020
Nationally representative sample
Readable sample sizes of:

Gen Z/Millennials
Affluent [defined at a country level]
Contactless users
Primary shoppers
Those with high levels of concern about Covid-19

About Mastercard
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

CONTACT:
Marcus Carmo
[email protected]
+1 (305) 5369476

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Logo – https://mma.prnewswire.com/media/1162156/mc_symbol_Logo.jpg

SOURCE Mastercard Latin America & the Caribbean

Ilyas Akbari Introduced as Senior Partner at Wilshire Law Firm

April 30, 2020

LOS ANGELES, April 30, 2020 /PRNewswire-HISPANIC PR WIRE/ — Amid an unprecedented global slowdown, Wilshire Law Firm continues to grow. Today the firm warmly welcomes Senior Partner and Bioengineer A. Ilyas Akbari, Esq. as the director of its all-new aviation litigation division.

“Ilyas is an incredible addition to the firm and we could not be more thrilled to have him join our family,” said Founding President and Managing Attorney Bobby Saadian, Esq. “Adding an aviation litigation division is an exciting development for Wilshire Law Firm – this division will be very meaningful to our practice long-term.”

An experienced aviation litigator with more than 200 aviation cases worked since 2005, Ilyas has represented clients in most of the major airline disasters, including the September 11 Litigation, Asiana Airlines Flight 214 (only case proceeding to trial, settling prior to voir dire), Germanwings Flight 9525 (represented only Americans on plane crashed by suicidal pilot; 2018 Elite Trial Lawyer finalist), and Ethiopian Airlines Flight 302 (Boeing MAX8 litigation), among others.

“I’ve never been one to back down from a challenge or an injustice,” noted Akbari, who has helped recover awards and settlements totaling over $350,000,000 in his career. “I’m excited to be joining a firm with the same commitment to their clients and to excellence as my own.”

Beyond aviation, Ilyas has successfully represented clients in many high-profile crashes, including a 2015 duck boat crash in Seattle ($20,000,000 verdict) and many rail disasters.

He currently is honored to serve as Plaintiff Vice Chair to the Aviation and Space Law General Committee of the American Bar Association, the Editor of its Newsletter, a member of the Aviation Trial Association – Top 10, and as Fellow in the Litigation Counsel of America.

About Wilshire Law Firm
Founded in 2007 by Bobby Saadian, Esq., Wilshire Law Firm is an award-winning personal injury, employment law, and class action law firm. Recognized by U.S. News and World Report and Best Lawyers as one of 2020’s “Best Law Firms,” the firm’s attorneys are consistently honored throughout the legal industry for their excellence. To date, our team of over 150 legal professionals has recovered more than $750,000,000 for the Wilshire Law Firm client family, providing exceptional service every step of the way.

To find out more, call (844) 790-8018, or visit: https://www.WilshireLawFirm.com

Instagram: @WilshireLawFirmPLC
Twitter: @WilshireLawFirm
Facebook: @WilshireLawFirm

Logo – https://mma.prnewswire.com/media/537344/Wilshire_Law_Firm_Logo.jpg

SOURCE Wilshire Law Firm

(Español) Presentación de Ilyas Akbari como socio superior en Wilshire Law Firm

April 30, 2020

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NO MORE And National Domestic Violence Hotline Help Address Spike In Domestic Abuse During The COVID-19 Crisis With Multifaceted Campaign

April 29, 2020

NEW YORK, April 29, 2020 /PRNewswire-HISPANIC PR WIRE/ — Reports from many cities and countries indicate that the COVID-19 crisis is leading to a significant spike in domestic violence, with several countries and cities citing more than double the usual number of calls to police, hotlines and/or support services. The National Domestic Violence Hotline (The Hotline) is hearing from many survivors how COVID-19 is being used by abusive partners to further control and abuse. In direct response, The NO MORE Foundation (NO MORE) and The Hotline are significantly expanding their recently launched public awareness and action campaign.

Entitled #Listeningfromhome and created by MRM, the campaign aims to heighten people’s awareness of domestic violence, and encourage them to safely get help if they experience, hear, or observe incidents of domestic abuse. In addition to an expanded social media effort, the campaign will now be included on more than 300 of Lamar’s digital billboards in over 50 U.S. markets. In the U.K., in partnership with the U.K. Says NO MORE chapter, the campaign posters will go up in pharmacies and on several billboards across the country, mobilizing key community spaces as places to access information and support.

Specifically, people who hear of a loved one or neighbor experiencing domestic violence, are advised to:

In the U.S., contact The Hotline at 1-800-799-7233 to get support. In the U.K., find details of local support through the Bright Sky App.
Call the police in case of an emergency
Learn more about all forms of abuse at nomore.org
Donate to The Hotline so they can continue to provide critical, life-saving services for hundreds of thousands of survivors.

One in four women and one in nine men experience severe intimate partner physical violence, according to the Centers for Disease Control and Prevention (CDC). With many isolating at home to contain the spread of COVID-19, many victims of domestic violence are trapped with their abusers. Any external factors that add stress and financial strain can negatively impact survivors and create circumstances where their safety is further compromised.

“These are difficult times for everyone, even more so for victims of domestic abuse,” said Ian Dallimore, Lamar Advertising VP of Digital Growth. “The NO MORE message is such an important one during times like these. We are proud to support the efforts of the National Domestic Violence Hotline and to help raise awareness of the horrors of domestic abuse with our digital network.”

“Like with COVID-19, the signs of domestic abuse are not always visible. However, now that people are home, they might hear more coming from their neighbors’ homes than usual. We want to enlist these people as allies in the effort to stop the epidemic of domestic violence—now, and beyond this immediate crisis,” said Pamela Zaballa, Global Executive Director of The NO MORE Foundation.

“Isolation is one of the strongest tactics an abuser can use, so building community around a survivor during COVID-19 is more important than ever before,” said Katie Ray-Jones, Chief Executive Officer of the National Domestic Violence Hotline. “For those who know and care about survivors or for those who observe abuse, you can be a part of their safety plan. Whether you are a survivor or someone who cares about a survivor, the Advocates at The Hotline are here to help you understand the best ways to protect yourself and support those at risk.”

“This is a moment in time we cannot miss; a moment to activate the nation to get ‘Listening from Home’ whilst ‘Working from Home.’ And importantly, to point people towards the resources to help,” said Nicky Bullard, Chairwoman and Chief Creative Officer, MRM.

”We know that victims of domestic abuse struggle to access help due to the stalking and control that they experience. We recognise the role that pharmacies play in society and even more so in a time of crisis such as now,” said Sandra Gidley, President of the Royal Pharmaceutical Society. “We’re committed to encouraging all our members across the UK to be part of the response to domestic abuse, by ensuring we can enable victims to access specialist domestic abuse support services.”

“During this critical time, it is important we check in with family members, friends and neighbours this may impact. Emergency responders are waiting for our calls and can provide the necessary tools to signpost to support. If we all listen for the sounds of violence, we may save a life,” said Lyndsey Dearlove, head of UK SAYS NO MORE.

About NO MORE: The NO MORE Foundation is dedicated to ending domestic violence and sexual assault by increasing awareness, inspiring action, and fueling culture change. With more than 1,400 allied organizations and over 40 state, local, and international chapters, NO MORE sparks grassroots activism, encouraging everyone—women and men, youth and adults, from all walks of life—to be part of the solution. The Foundation creates and provides public awareness campaigns, educational resources and community organizing tools free-of-charge for anyone wanting to stop and prevent violence. First launched in 2013, NO MORE has brought together the largest coalition of advocacy groups, service providers, governmental agencies, major corporations, universities, communities and individuals, all under a common brand and a unifying symbol in support of a world free of violence.

About the National Domestic Violence Hotline: For nearly twenty-five years, the National Domestic Violence Hotline has answered the call – over 5.2 million calls, chats and texts to date – from those affected by relationship abuse. As the only 24/7/365 national service provider offering services via call, chat, and text, they work to shine a light on domestic violence by supporting and advocating for survivors, providing hope in times of crisis, and promoting healthy relationships for all.

The Hotline works at every level to ensure a future where all relationships are positive, healthy, and free from violence. Advocates provide support through online chat at loveisrespect.org and TheHotline.org, via text by sending loveis to 22522*, and by phone at 1-800-799-SAFE for The Hotline or 1-866-331-9474 for loveisrespect.

About Lamar Advertising Company
Founded in 1902, Lamar Advertising Company is one of the largest outdoor advertising companies in the world, with more than 360,000 displays across the United States and Canada. Lamar offers advertisers a variety of billboard, interstate logo, transit and airport advertising formats, helping both local businesses and national brands reach broad audiences every day. In addition to its more traditional out of home inventory, Lamar is proud to offer its customers the largest network of digital billboards in the United States with over 3,500 displays. Please feel free to explore our website www.lamar.com or contact us at [email protected] for additional information.

About MRM: MRM is a leading data science, technology innovation and creatively driven relationship marketing agency that helps brands grow meaningful relationships with people. The agency leverages the power of creativity, the beauty of data, the magic of technology and the impact of connections to drive business results. MRM//McCann is part of the Interpublic Group and a lead agency in the McCann Worldgroup network, with 40-plus offices across North America, Latin America, Europe, the Middle East and Asia Pacific. For information, please visit mrm-mccann.co.uk.

MRM Credit List:
Chief Creative Officer/writer – Nicky Bullard
Executive Creative Director – James Thorley
Deputy Creative Director/art director – Jon Wells
Designer – Agatha O’Neill
Account Director – Sarah Tille

SOURCE The National Domestic Violence Hotline

Hispanic Public Relations Association Announces National Board Member Additions

April 29, 2020

NEW YORK, April 29, 2020 /PRNewswire-HISPANIC PR WIRE/ — The Hispanic Public Relations Association (HPRA) announced today an impactful change to its national board of directors. Five leading industry professionals have been added to the national board of the foremost organization of Hispanic public relations practitioners. Joining the Board are Alejandra Molinari, Senior PR Communications Manager at Intuit, Carla Santiago, Acting General Manager at Edelman, Carlos Correcha-Price, Chief Executive Officer-USA at LLYC, Darcy Brito, Business PR Manager at Aflac and Oscar Suris, Executive Managing Director at Zeno Group.

“HPRA’s leadership is strong and I look forward to working alongside this stellar group of seasoned professionals to move forward the organizations’ mission of advancing the practice; serving as the voice for professionals working in Hispanic communications; empowering our members through support, resources and education; and offering guidance and assistance to students pursuing careers in the field,” stated Andy Checo, president of the Hispanic Public Relations Association. “During these challenging times, I am confident that the contributions of our new and established board members will be valuable not only to our organization, but to our overall industry.”

The new board members bring on a wealth of experience to the organization which expands decades and include the following:

Molinari spearheads Latino and Self-Employed communication strategy for the TurboTax brand. Prior to Intuit, she worked at Entravision San Diego and Jenny Craig.
Santiago oversees the U.S. Hispanic Strategy at Edelman. Prior to Edelman, she served in communications roles at Hyatt Hotels Corporation, FleishmanHillard and Univision Communications.
Prior to joining LLYC, Correcha-Price was General Manager for Edelman’s Miami and Colombia offices and oversaw the firm’s public affairs efforts in Latin America and was responsible for Edelman’s Hispanic-Outreach Center of Excellence.
With Aflac since 2007, Brito has received numerous industry recognitions including, 2019 Top Woman in PR by PR News, 2018 American Business Awards’ Silver Stevie honoree in the Communications Professional of the Year and 2017 Women World Awards’ Silver honoree in the Female Executive of the Year. She currently serves on the board of Girls Inc. of Columbus, the Muscogee County Library Foundation and the CSR Board.
Prior to his current role leading C-suite and Crisis Strategy at Zeno Group, Suris was EVP of Communications at Wells Fargo and held communications roles at Ford and AutoNation. Earlier on, Oscar was a reporter at The Wall Street Journal and the Orlando Sentinel and assistant to the chairman and publisher of The Miami Herald Publishing Company.

The new group is part of the expanded board of directors who voted to implement the following resources available at no charge to industry professionals, agencies and corporations, all who have been impacted by the unprecedent COVID-19 environment.

Complimentary Job Board: Effective immediately, HPRA is waiving job postings fees on its website and encourages agencies and corporations with open positions to leverage this resource to connect with talent.
Introduction of a Talent Board: The free online resource will feature individuals who are looking for work or more opportunities. To be featured, individuals are asked to upload their professional information and resume onto the HPRA portal. The platform will leverage HPRA’s network to maximize connections between candidates including recent college grads and talent-seeking professionals.

In addition to the above mentioned, the HPRA National Board of Directors is comprised of the following individuals: Brenda Mendoza, The Guardian Life Insurance Company of America, Jennifer Morales, Entercom, Lourdes Rodriguez, Los Angeles Department of Water and Power, Maggie Hernandez, Cision/PR Newswire, Maria Amor, Havas FORMULATIN, Mario Flores, Sportivo, Mayra Ramos-Miro, Red Heels PR, Sabrina Macias, DraftKings, Sonia Diaz, Balsera Communications, Veronica Salcedo, NBCUniversal and Yvonne Lorie, ReFresh PR.

Local HPRA Chapters are led by the following Chapter Presidents: Erika Sanchez, Braid Communications – New York, Erika Souza Cruz, Edelman – Miami, Natalia Flores, APR, AC&M Group – The Carolinas and Sandra Bernardo, Experian – Orange County (CA) and Stephen Chavez, Chavez PR – Los Angeles Chapter President (Los Angeles)

The Hispanic Public Relations Student Association chapter at the University of Florida is led by Martha Paz-Soldan with Catalina Santana taking over as president for the 2020-2021 academic year.

For additional information regarding the Hispanic Public Relations Association, please visit HPRAUSA.org.

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SOURCE Hispanic Public Relations Association

(Español) 3 consejos para manejar el estrés

April 29, 2020

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Keurig Dr Pepper Reports Strong Start to 2020

April 29, 2020

BURLINGTON, Massachusetts and PLANO, Texas, April 27, 2020 /PRNewswire-HISPANIC PR WIRE/ — Keurig Dr Pepper Inc. (NYSE: KDP) today reported strong financial results for the first quarter ended March 31, 2020. Net sales in the first quarter of 2020 increased 4.4% to $2.61 billion, compared to $2.50 billion in the year-ago period, reflecting growth in all four reporting segments. On a constant currency basis, net sales increased 4.5%.

On a GAAP basis, diluted earnings per share in the first quarter of 2020 decreased to $0.11, compared to $0.16 in the year-ago period. Excluding items affecting comparability¹, Adjusted diluted EPS advanced 16% to $0.29, compared to $0.25 in the year-ago period.

As previously announced, earlier this month the Company completed a strategic refinancing that extended its debt maturities and enhanced its liquidity profile, including a $1.5 billion senior notes issuance and the refinancing and upsizing of its 364-day revolving credit facility. The refinancing, which did not change the Company’s total debt balance or deleveraging commitments, increased KDP’s liquidity to a level that the Company believes will exceed its liquidity needs, even in the event of a protracted downturn.

Commenting on the announcement, Chairman and CEO Bob Gamgort stated, “We delivered Q1 performance in line with our long-term targets, building on the business strength demonstrated since our merger in mid-2018 and setting us up for a strong 2020. However, we are now operating in a distinctly different environment that has required us to pivot significantly. The extraordinary steps we’ve taken to keep our teams safe and working, coupled with our broad portfolio and seven distinct routes to market, position us to continue to successfully navigate this unprecedented time. I recognize the significant role KDP employees are playing in our future success, and I can’t thank them enough for their tireless efforts to ensure we continue to meet the needs of our customers and consumers. Finally, while the timing of the macroeconomic recovery remains uncertain, we remain confident in our ability to deliver the guidance we reaffirmed today, particularly our Adjusted EPS and deleveraging commitments.”

First Quarter Consolidated Results
Net sales for the first quarter of 2020 increased 4.4% to $2.61 billion, compared to $2.50 billion in the year-ago period. On a constant currency basis, net sales advanced 4.5%, reflecting strong volume/mix growth of 5.0%, partially offset by lower net price realization of 0.5%. The volume/mix growth reflected particular strength in the Packaged Beverages segment, which included a benefit from the impact of COVID-19 late in the quarter, partially offset by slowdowns in the fountain foodservice business in the Beverage Concentrates segment and the away-from-home business in the Coffee Systems segment, both of which experienced an unfavorable impact from COVID-19 late in the quarter.

KDP in-market performance² was very strong in the first quarter of 2020, with market share advancing in the majority of the Company’s key categories, including CSDs³, premium unflavored water, shelf stable fruit drinks and shelf stable apple juice and apple sauce. This performance reflected the strength of Dr Pepper and Canada Dry CSDs, CORE hydration and evian premium water, Snapple juice drinks and Motts apple juice and apple sauce. In coffee, retail consumption of single-serve pods manufactured by KDP grew over 6% in IRi tracked channels with dollar market share of KDP manufactured pods remaining strong at 81.0%.

Operating income decreased 6.4% to $466 million in the first quarter of 2020, compared to $498 million in the year-ago period, largely reflecting the unfavorable year-over-year impact of items affecting comparability, which includes an $86 million non-cash impairment charge on an equity investment. Also impacting the quarter was inflation, primarily in input costs and logistics, higher operating costs associated with increased consumer demand, tariffs, and the unfavorable comparison to a $10 million gain on the renegotiation of a manufacturing contract in the prior year. Partially offsetting these drivers were the benefits of productivity and merger synergies, which impacted both SG&A and cost of sales, the strong growth in net sales and a network optimization program gain of $42 million on the asset sale-leaseback of four facilities. Excluding items affecting comparability, Adjusted operating income increased 10.1% to $684 million, compared to $621 million in the year-ago period, and Adjusted operating margin advanced 140 basis points to 26.2%. On a constant currency basis, Adjusted operating income grew 10.5%.

Net income decreased 32% to $156 million, or $0.11 per diluted share, in the first quarter of 2020, compared to $230 million, or $0.16 per diluted share, in the year-ago period, meaningfully impacted by items affecting comparability. Excluding these items, Adjusted net income advanced 13% to $408 million in the first quarter of 2020, compared to $362 million in the year-ago period. This performance reflected the strong growth in Adjusted operating income, a lower Adjusted effective tax rate and lower Adjusted interest expense due to continued deleveraging, partially offset by a smaller gain in 2020 totaling $20 million from unwinding interest rate swap contracts versus the $27 million gain recorded in 2019. Adjusted diluted EPS advanced 16% to $0.29, compared to $0.25 in the year-ago period.

The Company generated strong free cash flow of approximately $464 million in the first quarter of 2020, enabling KDP to reduce bank debt by $42 million and repay $107 million of structured payables.

The Company’s management leverage ratio declined from 4.5x at year-end 2019 to 4.2x at the end of the first quarter of 2020, reflecting lower outstanding indebtedness and continued growth in Adjusted EBITDA, including the permanent benefit of adding certain amortization expenses not previously incorporated in the calculation of Adjusted EBITDA.

¹	Adjusted financial metrics used in this release are non-GAAP. See reconciliations of GAAP results to Adjusted results in the accompanying tables.
²	In-market performance (retail consumption; market share) based on Keurig Dr Pepper’s custom IRi category definitions.
³	CSD refers to “Carbonated Soft Drink”.

First Quarter Segment Results

Coffee Systems
Net sales for the first quarter of 2020 increased 0.5% to $973 million, compared to $968 million in the year-ago period, reflecting higher volume/mix of 3.7% and favorable foreign currency translation of 0.1%, partially offset by lower net price realization of 3.3% resulting from strategic price investments. The volume/mix increase of 3.7% reflected strong pod volume growth of 5.6%, despite a significant decline late in the quarter in the away-from-home coffee business due to both office closures and hospitality slowdown caused by COVID-19. Brewer volume declined 2.4% in the quarter, reflecting comparison to the double-digit growth recorded in the year-ago period, as well as the expected shift of brewer shipments from the first quarter to later in the year as a result of the timing impact of COVID-19 on brewer supply from certain regions in Asia.

Operating income declined 7.2% to $272 million in the first quarter of 2020, compared to $293 million in the year-ago period, reflecting the unfavorable year-over-year impact of items affecting comparability, strategic pricing, tariffs, and an increase in other operating costs. Partially offsetting these drivers were the benefits of continued productivity and merger synergies, a network optimization program gain of $16 million on the asset sale-leaseback of a manufacturing facility and the strong pod volume growth. Excluding items affecting comparability, Adjusted operating income in the quarter increased 3.6% to $347 million, compared to $335 million in the year-ago period, and Adjusted operating margin advanced 110 basis points to 35.7%.

Packaged Beverages
Net sales for the first quarter of 2020 advanced 9.1% to $1.22 billion, compared to $1.12 billion in the year-ago period, reflecting strong volume/mix growth of 8.7% and higher net price realization of 0.4%. The increase in volume/mix reflected strength in premium water, carbonated soft drinks, juice and apple sauce, partially driven by heightened consumer demand due to stock-up behavior late in the quarter related to COVID-19. Driving the net sales performance in the quarter were evian, Dr Pepper, Motts, Canada Dry, Core, A Shoc, A&W, 7UP and Squirt, as well as increased contract manufacturing.

Operating income increased approximately 27% to $189 million in the first quarter of 2020, compared to $149 million in the year-ago period, reflecting the strong net sales growth, continued productivity and merger synergies, and a network optimization program gain of $26 million on the asset sale-leaseback of three facilities. These growth drivers were partially offset by higher manufacturing costs to meet the surge in consumer demand late in the quarter, inflation in packaging, labor and logistics costs, the unfavorable comparison versus year-ago of a $10 million gain related to the renegotiation of a manufacturing contract, and an increase in other operating costs. Also impacting the comparison was a slight year-over-year impact of items affecting comparability. Excluding these items, Adjusted operating income increased 27% to $203 million, compared to $160 million in the year-ago period and Adjusted operating margin advanced 240 basis points to 16.7% of net sales.

Beverage Concentrates
Net sales for the first quarter of 2020 increased 0.7% to $306 million, compared to $304 million in the year-ago period, reflecting higher net price realization of 2.4%, partially offset by unfavorable volume/mix of 1.7%. The volume/mix decline reflected a significant channel shift away from on-premise business, which is shipped directly, as demand dropped off quickly late in the quarter due to COVID-19, partially offset by a slower build of the at-home business, as inventories in the Company’s partner bottling network were worked down.

Dr Pepper continued to demonstrate net sales strength in the quarter, partially offset by Crush. Shipment volume versus year-ago declined 2.4% in the first quarter of 2020, reflecting an immediate impact of COVID-19 on the fountain foodservice business late in the quarter, partially offset by growth in concentrate shipment volume for retail product. Bottler case sales increased 1.0% in the first quarter of 2020.

Operating income decreased 2.0% to $197 million in the first quarter of 2020, compared to $201 million in the year-ago period, reflecting the benefit of the net sales growth which was more than offset by higher marketing investments in the quarter. Operating margin decreased 170 basis points versus year-ago to 64.4%.

Latin America Beverages
Net sales for the first quarter of 2020 increased 0.9% to $117 million, compared to net sales of $116 million in the year-ago period, reflecting higher net price realization of 5.9% partially offset by unfavorable volume/mix of 0.7% and unfavorable foreign currency translation of 4.3%. On a constant currency basis, net sales increased 5.2% in the quarter.

Operating income increased to $27 million in the first quarter of 2020, compared to $11 million in the year-ago period, reflecting a favorable foreign currency transaction impact, the net sales growth, continued productivity and a modest year-over year benefit from items affecting comparability. Partially offsetting these growth drivers were inflation in input costs, manufacturing and logistics. Excluding items affecting comparability, Adjusted operating income more than doubled in the first quarter of 2020 to $27 million, compared to $12 million in the year-ago period, resulting in Adjusted operating margin advancing 1,280 basis points versus year-ago to 23.1%.

KDP Outlook for 2020
The impacts and volatility of COVID-19 are expected to be significant in 2020, and the timing and pacing of re-opening the economy and ultimately transitioning into what is likely to be a new normal are highly uncertain. Nevertheless, given the Company’s broad portfolio and unmatched distribution network that spans seven distinct routes to market, KDP is reaffirming its guidance for 2020.

Specifically, for the full-year 2020, KDP expects constant currency net sales growth in the range of 3% to 4%, with performance likely at the low end of the range. The Company expects full-year 2020 Adjusted diluted EPS growth in the range of 13% to 15%, or $1.38 to $1.40 per diluted share, given the significant visibility and control the Company maintains over its cost structure, including aggressive cost management, productivity programs and merger synergies. As such, the Company continues to expect its management leverage ratio in the range of 3.5x to 3.8x at year end 2020 and its management leverage ratio to be below 3.0x in two to three years from the July 2018 merger closing.

Investor Contacts:
Tyson Seely
Keurig Dr Pepper
T: 781-418-3352 / [email protected]

Steve Alexander
Keurig Dr Pepper
T: 972-673-6769 / [email protected]

Media Contact:
Katie Gilroy
Keurig Dr Pepper
T: 781-418-3345 / [email protected]

About Keurig Dr Pepper
Keurig Dr Pepper (KDP) is a leading beverage company in North America, with annual revenue in excess of $11 billion and nearly 26,000 employees. KDP holds leadership positions in soft drinks, specialty coffee and tea, water, juice and juice drinks and mixers, and markets the #1 single serve coffee brewing system in the U.S. and Canada. The Company’s portfolio of more than 125 owned, licensed and partner brands is designed to satisfy virtually any consumer need, any time, and includes Keurig®, Dr Pepper®, Green Mountain Coffee Roasters®, Canada Dry®, Snapple®, Bai®, Mott’s®, CORE® and The Original Donut Shop®. Through its powerful sales and distribution network, KDP can deliver its portfolio of hot and cold beverages to nearly every point of purchase for consumers. The Company is committed to sourcing, producing and distributing its beverages responsibly through its Drink Well. Do Good. corporate responsibility platform, including efforts around circular packaging, efficient natural resource use and supply chain sustainability. For more information, visit, www.keurigdrpepper.com.

FORWARD LOOKING STATEMENTS
Certain statements contained herein are “forward-looking statements” within the meaning of applicable securities laws and regulations. These forward-looking statements can generally be identified by the use of words such as “outlook,” “guidance,” “anticipate,” “expect,” “believe,” “could,” “estimate,” “feel,” “forecast,” “intend,” “may,” “plan,” “potential,” “project,” “should,” “target,” “will,” “would,” and similar words, phrases or expressions and variations or negatives of these words, although not all forward-looking statements contain these identifying words. Forward-looking statements by their nature address matters that are, to different degrees, uncertain, such as statements regarding the estimated or anticipated future results of the combined company following the combination of Keurig Green Mountain, Inc. (“KGM”) and Dr Pepper Snapple Group, Inc. (“DPSG” and such combination, the “transaction”), the anticipated benefits of the transaction, including estimated synergies and cost savings, the long-term merger targets, and other statements that are not historical facts. These statements are based on the current expectations of our management and are not predictions of actual performance.

These forward-looking statements are subject to a number of risks and uncertainties regarding the company’s business and the transaction and actual results may differ materially. These risks and uncertainties include, but are not limited to: (i) the impact the significant additional debt incurred in connection with the transaction may have on our ability to operate our business, (ii) risks relating to the integration of the KGM and DPS operations, products and employees into the combined company and assumption of certain potential liabilities of KGM and the possibility that the anticipated synergies and other benefits of the transaction, including cost savings, will not be realized or will not be realized within the expected timeframe, (iii) the impact of the global COVID-19 pandemic, and (iv) risks relating to the businesses and the industries in which our combined company operates. These risks and uncertainties, as well as other risks and uncertainties, are more fully discussed in the Company’s filings with the SEC, including our Annual Report on Form 10-K filed with the SEC on February 27, 2020, and our subsequent filings with the SEC. While the lists of risk factors presented here and in our public filings are considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Any forward-looking statement made herein speaks only as of the date of this document. We are under no obligation to, and expressly disclaim any obligation to, update or alter any forward-looking statements, whether as a result of new information, subsequent events or otherwise, except as required by applicable laws or regulations.

NON-GAAP FINANCIAL MEASURES
This release includes certain non-GAAP financial measures including Adjusted operating income, Adjusted net income, Adjusted diluted EPS and Free Cash Flow, which differ from results using U.S. Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures should be considered as supplements to the GAAP reported measures, should not be considered replacements for, or superior to, the GAAP measures and may not be comparable to similarly named measures used by other companies. Non-GAAP financial measures typically exclude certain charges, including one-time costs related to the transaction and integration activities, which are not expected to occur routinely in future periods. The Company uses non-GAAP financial measures internally to focus management on performance excluding these special charges to gauge our business operating performance. Management believes this information is helpful to investors because it increases transparency and assists investors in understanding the underlying performance of the Company and in the analysis of ongoing operating trends. Additionally, management believes that non-GAAP financial measures are frequently used by analysts and investors in their evaluation of companies, and its continued inclusion provides consistency in financial reporting and enables analysts and investors to perform meaningful comparisons of past, present and future operating results. The most directly comparable GAAP financial measures and reconciliations to non-GAAP financial measures are set forth in the appendix to this release and included in the Company’s filings with the SEC.

To the extent that the Company provides guidance, it does so only on a non-GAAP basis and does not provide reconciliations of such forward-looking non-GAAP measures to GAAP due to the inability to predict the amount and timing of impacts outside of the Company’s control on certain items, such as non-cash gains or losses resulting from mark-to-market adjustments of derivative instruments, among others.

KEURIG DR PEPPER INC.
*CONDENSED CONSOLIDATED STATEMENTS OF INCOME*
*For the First Quarter of 2020 and 2019*
(Unaudited, in millions, except per share data)

	First Quarter
*(in millions, except per share data)*	2020		2019
Net sales	$	2,613	$	2,504
Cost of sales	1,161		1,106
Gross profit	1,452		1,398
Selling, general and administrative expenses	1,028		911
Other operating income, net	(42)		(11)
Income from operations	466		498
Interest expense	153		169
Loss on early extinguishment of debt	2		9
Impairment on investment and note receivable	86		—
Other expense, net	20		5
Income before provision for income taxes	205		315
Provision for income taxes	49		85
Net income	$	156	$	230

Earnings per common share:
Basic	$	0.11	$	0.16
Diluted	0.11		0.16
Weighted average common shares outstanding:
Basic	1,407.0		1,406.3
Diluted	1,420.1		1,417.7

KEURIG DR PEPPER INC.
*CONDENSED CONSOLIDATED BALANCE SHEETS*
*As of March 31, 2020 and December 31, 2019*
(Unaudited, in millions, except shares and per share data)

	March 31,		December 31,
*(in millions, except share and per share data)*	2020		2019
Assets
Current assets:
Cash and cash equivalents	$	197	$	75
Restricted cash and restricted cash equivalents	26		26
Trade accounts receivable, net	1,037		1,115
Inventories	682		654
Prepaid expenses and other current assets	335		403
Total current assets	2,277		2,273
Property, plant and equipment, net	2,017		2,028
Investments in unconsolidated affiliates	105		151
Goodwill	19,898		20,172
Other intangible assets, net	23,706		24,117
Other non-current assets	811		748
Deferred tax assets	29		29
Total assets	$	48,843	$	49,518
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable	$	3,238	$	3,176
Accrued expenses	960		939
Structured payables	258		321
Short-term borrowings and current portion of long-term obligations	1,957		1,593
Other current liabilities	445		445
Total current liabilities	6,858		6,474
Long-term obligations	12,431		12,827
Deferred tax liabilities	5,917		6,030
Other non-current liabilities	997		930
Total liabilities	26,203		26,261
Commitments and contingencies
Stockholders’ equity:
Preferred stock, $0.01 par value, 15,000,000 shares authorized, no shares issued	—		—
Common stock, $0.01 par value, 2,000,000,000 shares authorized, 1,407,079,951 and 1,406,852,305 shares issued and outstanding as of March 31, 2020 and December 31, 2019, respectively	14		14
Additional paid-in capital	21,579		21,557
Retained earnings	1,527		1,582
Accumulated other comprehensive (income) loss	(480)		104
Total stockholders’ equity	22,640		23,257
Total liabilities and stockholders’ equity	$	48,843	$	49,518

KEURIG DR PEPPER INC.
*CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS*
*For The* *First Quarter of 2020 and 2019*
(Unaudited, in millions)

	First Quarter
*(in millions)*	2020		2019
Operating activities:
Net income	$	156	$	230
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation expense	98		85
Amortization of intangibles	33		31
Other amortization expense	32		36
Provision for sales returns	7		9
Deferred income taxes	(5)		1
Employee stock based compensation expense	19		14
Loss on early extinguishment of debt	2		9
Gain on disposal of property, plant and equipment	(43)		—
Unrealized loss (gain) on foreign currency	22		(17)
Unrealized loss on derivatives	43		7
Equity in losses of unconsolidated affiliates	15		15
Impairment on investment and note receivable of unconsolidated affiliate	86		—
Other, net	22		(4)
Changes in assets and liabilities, net of effects of acquisition:
Trade accounts receivable	42		126
Inventories	(38)		(36)
Income taxes receivable, prepaid and payables, net	(29)		68
Other current and non current assets	(179)		(102)
Accounts payable and accrued expenses	150		125
Other current and non current liabilities	(19)		(6)
Net change in operating assets and liabilities	(73)		175
Net cash provided by operating activities	414		591
Investing activities:
Issuance of related party note receivable	(6)		(7)
Purchases of property, plant and equipment	(151)		(62)
Proceeds from sales of property, plant and equipment	201		18
Purchases of intangibles	(15)		(2)
Other, net	5		8
Net cash provided by (used in) investing activities	34		(45)
Financing activities:
Proceeds from unsecured credit facility	1,000		—
Proceeds from term loan	—		2,000
Net (repayment) issuance of commercial paper	(387)		594
Proceeds from structured payables	44		78
Payments on structured payables	(107)		(9)
Payments on senior unsecured notes	(250)		(250)
Repayment of term loan	(405)		(2,758)
Payments on finance leases	(13)		(10)
Cash dividends paid	(212)		(211)
Other, net	2		10
Net cash (used in) financing activities	(328)		(556)
Cash, cash equivalents, restricted cash and restricted cash equivalents — net change from:
Operating, investing and financing activities	120		(10)
Effect of exchange rate changes on cash, cash equivalents, restricted cash and restricted cash equivalents	(8)		10
Cash, cash equivalents, restricted cash and restricted cash equivalents at beginning of period	111		139
Cash, cash equivalents, restricted cash and restricted cash equivalents at end of period	$	223	$	139

KEURIG DR PEPPER INC.
RECONCILIATION OF SEGMENT INFORMATION
(Unaudited)

	First Quarter
*(in millions)*	2020		2019
Net Sales
Coffee Systems	$	973	$	968
Packaged Beverages	1,217		1,116
Beverage Concentrates	306		304
Latin America Beverages	117		116
Total net sales	$	2,613	$	2,504

Income from Operations
Coffee Systems	$	272	$	293
Packaged Beverages	189		149
Beverage Concentrates	197		201
Latin America Beverages	27		11
Unallocated corporate costs	(219)		(156)
Total income from operations	$	466	$	498

KEURIG DR PEPPER INC.
RECONCILIATION OF CERTAIN NON-GAAP INFORMATION
(Unaudited)

The company reports its financial results in accordance with U.S. GAAP. However, management believes that certain non-GAAP financial measures that reflect the way management evaluates the business may provide investors with additional information regarding the company’s results, trends and ongoing performance on a comparable basis.

For the first quarter of 2020 and 2019, we define our Adjusted non-GAAP financial measures as certain financial statement captions and metrics adjusted for certain items affecting comparability. The items affecting comparability are defined below.

Specifically, investors should consider the following with respect to our financial results:

Adjusted: Defined as certain financial statement captions and metrics adjusted for certain items affecting comparability.

Items affecting comparability: Defined as certain items that are excluded for comparison to prior year periods, adjusted for the tax impact as applicable. Tax impact is determined based upon an approximate rate for each item. For each period, management adjusts for (i) the unrealized mark-to-market impact of derivative instruments not designated as hedges in accordance with U.S. GAAP and do not have an offsetting risk reflected within the financial results; (ii) the amortization associated with definite-lived intangible assets; (iii) the amortization of the deferred financing costs associated with the DPS Merger and Keurig Acquisition; (iv) the amortization of the fair value adjustment of the senior unsecured notes obtained as a result of the DPS Merger; (v) stock compensation expense attributable to the matching awards made to employees who made an initial investment in the Keurig Green Mountain, Inc. Executive Ownership Plan, the Keurig Dr Pepper Omnibus Incentive Plan of 2009 or the Keurig Dr Pepper Inc. Omnibus Incentive Plan of 2019; and (vi) other certain items that are excluded for comparison purposes to prior year periods.

Prior to the second quarter of 2019, we did not add back the amortization of the fair value adjustment of the senior unsecured debt recognized as a result of the purchase price allocation for the DPS Merger. As this item is similar to the amortization of intangibles, we changed our method of computing Adjusted results to exclude the amortization of the fair value adjustment of the senior unsecured notes in order to reflect how management views our business results on a consistent basis.

For the first quarter of 2020, the other certain items excluded for comparison purposes include (i) restructuring and integration expenses related to the DPS Merger and the Keurig Acquisition; (ii) productivity expenses; (iii) transaction costs for significant business combinations (completed or abandoned) excluding the DPS Merger; (iv) costs related to significant nonroutine legal matters; (v) the loss on early extinguishment of debt related to the redemption of debt; (vi) incremental costs to our operations related to risks associated with the COVID-19 pandemic and (vii) impairment recognized on equity method investment with Bedford Systems, LLC.

Incremental costs to our operations related to risks associated with the COVID-19 pandemic include incremental expenses incurred to either maintain the health and safety of our front-line employees or temporarily increase compensation to such employees to ensure essential operations continue during the pandemic. We believe removing these costs reflects how management views our business results on a consistent basis.

For the first quarter of 2019, the other certain items excluded for comparison purposes include (i) restructuring and integration expenses related to the DPS Merger and the Keurig Acquisition; (ii) productivity expenses; (iii) transaction costs for significant business combinations (completed or abandoned) excluding the DPS Merger; (iv) costs related to significant nonroutine legal matters; (v) the impact of the step-up of acquired inventory not associated with the DPS Merger (vi) the loss on early extinguishment of debt related to the redemption of debt and (vii) the loss related to the February 2019 organized malware attack on our business operation networks in the Coffee Systems segment.

For the first quarter of 2020 and 2019, the supplemental financial data set forth below includes reconciliations of Adjusted income from operations, Adjusted net income and Adjusted diluted EPS to the applicable financial measure presented in the unaudited condensed consolidated financial statement for the same period.

Reconciliations for these items are provided in the tables below.

KEURIG DR PEPPER INC.
RECONCILIATION OF CERTAIN REPORTED ITEMS TO CERTAIN NON-GAAP ADJUSTED ITEMS
For the First Quarter Ended March 31, 2020
(Unaudited, in millions, except per share data)

	Cost of sales		Gross profit		Gross margin		Selling, general and administrative expenses		Income from operations		Operating margin
Reported	$	1,161	$	1,452	55.6	%	$	1,028	$	466	17.8	%
Items Affecting Comparability:
Mark to market	(15)		15				(43)		58
Amortization of intangibles	—		—				(33)		33
Stock compensation	—		—				(7)		7
Restructuring and integration costs	—		—				(52)		52
Productivity	(16)		16				(38)		54
Nonroutine legal matters	—		—				(9)		9
COVID-19	(1)		1				(4)		5
Adjusted GAAP	$	1,129	$	1,484	56.8	%	$	842	$	684	26.2	%

	Interest expense		Loss on early extinguishment of debt		Impairment on investment and note receivable		Income before provision for income taxes		Provision for income taxes		Effective tax rate		Net income		Weighted Average Diluted shares	Diluted earnings per share
Reported	$	153	$	2	$	86	$	205	$	49	23.9	%	$	156	1,420.1	$	0.11
Items Affecting Comparability:
Mark to market	(24)		—		—		82		21				61			0.04
Amortization of intangibles	—		—		—		33		9				24			0.02
Amortization of deferred financing costs	(3)		—		—		3		1				2			—
Amortization of fair value debt adjustment	(6)		—		—		6		2				4			—
Stock compensation	—		—		—		7		1				6			—
Restructuring and integration costs	—		—		—		52		14				38			0.03
Productivity	—		—		—		54		15				39			0.03
Loss on early extinguishment of debt	—		(2)		—		2		—				2			—
Impairment on investment	—		—		(86)		86		21				65			0.05
Nonroutine legal matters	—		—		—		9		2				7			—
COVID-19	—		—		—		5		1				4			—
Adjusted GAAP	$	120	$	—	$	—	$	544	$	136	25.0	%	$	408	1,420.1	$	0.29

Diluted earnings per common share may not foot due to rounding.

KEURIG DR PEPPER INC.
RECONCILIATION OF CERTAIN REPORTED ITEMS TO CERTAIN NON-GAAP ADJUSTED ITEMS
For the First Quarter Ended March 31, 2019
(Unaudited, in millions, except per share data)

	Cost of sales		Gross profit		Gross margin		Selling, general and administrative expenses		Income from operations		Operating margin
Reported	$	1,106	$	1,398	55.8	%	$	911	$	498	19.9	%
Items Affecting Comparability:
Mark to market	(12)		12				12		—
Amortization of intangibles	—		—				(31)		31
Stock compensation	—		—				(7)		7
Restructuring and integration costs	(1)		1				(60)		61
Productivity	(3)		3				(6)		9
Nonroutine legal matters	—		—				(7)		7
Inventory step-up	(3)		3				—		3
Malware incident	(2)		2				(3)		5
Adjusted GAAP	$	1,085	$	1,419	56.7	%	$	809	$	621	24.8	%

	Interest expense		Loss on early extinguishment of debt		Other expense (income), net		Income before provision for income taxes		Provision for income taxes		Effective tax rate		Net income		Weighted Average Diluted shares	Diluted earnings per share
Reported	$	169	$	9	$	5	$	315	$	85	27.0	%	$	230	1,417.7	$	0.16
Items Affecting Comparability:
Mark to market	(29)		—		2		27		7				20			0.01
Amortization of intangibles	—		—		—		31		8				23			0.02
Amortization of deferred financing costs	(4)		—		—		4		1				3			—
Amortization of fair value debt adjustment	(7)		—		—		7		1				6			—
Stock compensation	—		—		—		7		2				5			—
Restructuring and integration costs	—		—		—		61		15				46			0.03
Productivity	—		—		—		9		2				7			—
Transaction costs	(5)		—		—		5		1				4			—
Loss on early extinguishment of debt	—		(9)		—		9		2				7			—
Nonroutine legal matters	—		—		—		7		2				5			—
Inventory step-up	—		—		—		3		1				2			—
Malware incident	—		—		—		5		1				4			—
Adjusted GAAP	$	124	$	—	$	7	$	490	$	128	26.1	%	$	362	1,417.7	$	0.25

Diluted earnings per common share may not foot due to rounding.

KEURIG DR PEPPER INC.
RECONCILIATION OF SEGMENT ITEMS TO CERTAIN NON-GAAP ADJUSTED SEGMENT ITEMS
(Unaudited)

*(in millions)*	Reported		Items Affecting Comparability		Adjusted GAAP
For the First Quarter Ended March 31, 2020
Income from Operations
Coffee Systems	$	272	$	75	$	347
Packaged Beverages	189		14		203
Beverage Concentrates	197		—		197
Latin America Beverages	27		—		27
Unallocated corporate costs	(219)		129		(90)
Total income from operations	$	466	$	218	$	684


*(in millions)*	Reported		Items Affecting Comparability		Adjusted GAAP
For the First Quarter Ended March 31, 2019
Income from Operations
Coffee Systems	$	293	$	42	$	335
Packaged Beverages	149		11		160
Beverage Concentrates	201		—		201
Latin America Beverages	11		1		12
Unallocated corporate costs	(156)		69		(87)
Total income from operations	$	498	$	123	$	621

KEURIG DR PEPPER INC.
RECONCILIATION OF ADJUSTED EBITDA AND MANAGEMENT LEVERAGE RATIO
(Unaudited)

*(in millions, except for ratio)*
ADJUSTED EBITDA RECONCILIATION – LAST TWELVE MONTHS
Net income	$	1,180
Interest expense	638
Provision for income taxes	404
Loss on early extinguishment of debt	4
Impairment on investment	86
Other (income) expense, net	34
Depreciation expense	371
Other amortization	170
Amortization of intangibles	128
EBITDA	$	3,015
Items affecting comparability:
Restructuring and integration expenses	$	225
Transaction costs	9
Productivity	116
Nonroutine legal matters	50
Stock compensation	24
Malware incident	3
Mark to market	13
COVID-19	5
Adjusted EBITDA	$	3,460

	March 31,
	2020
Principal amounts of:
Commercial paper notes	$	859
Term loan	975
KDP Revolver	1,000
Senior unsecured notes	11,725
Total principal amounts	14,559
Less: Cash and cash equivalents	197
Total principal amounts less cash and cash equivalents	$	14,362

March 31, 2020 Management Leverage Ratio	4.2

KEURIG DR PEPPER INC.
RECONCILIATION OF ADJUSTED EBITDA – LAST TWELVE MONTHS
(Unaudited)

*(in millions)*	SECOND QUARTER OF 2019		THIRD QUARTER OF 2019		FOURTH QUARTER OF 2019		FIRST QUARTER OF 2020		LAST TWELVE MONTHS
Net income	$	314	$	304	$	406	$	156	$	1,180
Interest expense	170		158		157		153		638
Provision for income taxes	102		109		144		49		404
Loss on early extinguishment of debt	—		—		2		2		4
Impairment on investment	—		—		—		86		86
Other (income) expense, net	1		9		4		20		34
Depreciation expense	87		99		87		98		371
Other amortization	54		46		38		32		170
Amortization of intangibles	32		31		32		33		128
EBITDA	$	760	$	756	$	870	$	629	$	3,015
Items affecting comparability:
Restructuring and integration expenses	$	37	$	74	$	62	$	52	$	225
Transaction costs	1		7		1		—		9
Productivity	20		34		20		42		116
Nonroutine legal matters	8		12		21		9		50
Stock compensation	8		3		6		7		24
Malware incident	3		—		—		—		3
COVID-19	—		—		—		5		5
Mark to market	(8)		9		(46)		58		13
Adjusted EBITDA	$	829	$	895	$	934	$	802	$	3,460

KEURIG DR PEPPER INC.
RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW
(Unaudited)

Free cash flow is defined as net cash provided by operating activities adjusted for purchases of property, plant and equipment, proceeds from sales of property, plant and equipment, and certain items excluded for comparison to prior year periods. For the first quarter of 2020 and 2019, there were no certain items excluded for comparison to prior year periods.

	First Quarter
*(in millions)*	2020		2019
Net cash provided by operating activities	$	414	$	591
Purchases of property, plant and equipment	(151)		(62)
Proceeds from sales of property, plant and equipment	201		18
Free Cash Flow	$	464	$	547

RECONCILIATION OF CERTAIN CURRENCY NEUTRAL ADJUSTED FINANCIAL RESULTS
(Unaudited)

Net sales, adjusted income from operations and adjusted earnings per share, as adjusted to currency neutral: These adjusted financial results are calculated on a currency neutral basis by converting our current-period local currency financial results using the prior-period foreign currency exchange rates.

	For the First Quarter Ended March 31, 2020
	Coffee		Packaged		Beverage		Latin America
Percent change	Systems		Beverages		Concentrates		Beverages		Total
Net sales	0.5	%	9.1	%	0.7	%	0.9	%	4.4	%
Impact of foreign currency	(0.1)	%	—	%	—	%	4.3	%	0.1	%
Net sales, as adjusted to currency neutral	0.4	%	9.1	%	0.7	%	5.2	%	4.5	%


	For the First Quarter Ended March 31, 2020
	Coffee		Packaged		Beverage		Latin America
Percent change	Systems		Beverages		Concentrates		Beverages		Total
Adjusted income from operations	3.6	%	26.9	%	(2.0)	%	125.0	%	10.1	%
Impact of foreign currency	—	%	—	%	—	%	16.7	%	0.4	%
Adjusted income from operations, as adjusted to currency neutral	3.6	%	26.9	%	(2.0)	%	141.7	%	10.5	%

	For the First Quarter Ended March 31, 2020
Adjusted diluted earnings per share	$	0.29
Impact of foreign currency	—
Adjusted diluted earnings per share, as adjusted to currency neutral	$	0.29

Logo – https://mma.prnewswire.com/media/724482/Keurig_Dr_Pepper_logo.jpg

SOURCE Keurig Dr Pepper Inc.

CIT Provides Investment to the Local Initiatives Support Corporation of San Diego

April 29, 2020

PASADENA, California, April 29, 2020 /PRNewswire-HISPANIC PR WIRE/ — CIT and its Pasadena-based banking subsidiary today announced a $3 million investment in support of the Local Initiatives Support Corporation of San Diego (LISC)’s Neighborhood Catalyst Fund. CIT’s investment is expected to help create 1,350 affordable housing units for low-to-moderate income residents of San Diego County.

“Building stronger, more equitable communities across San Diego is our priority, especially during this unprecedented time when many local residents need our support,” said Steve Solk, president of Consumer Banking for CIT. “Through this effort, we’re empowering local residents to achieve economic prosperity and a better quality of life.”

“LISC is grateful for CIT’s partnership as we work to drive transformative change across the region and serve neighborhoods of opportunity,” said Ricardo Flores, executive director for LISC San Diego. “This investment enables us to support and revitalize communities, broaden access to resources and improve the quality of life for thousands across Southern California.”

CIT’s support of the Neighborhood Catalyst Fund will result in multiple multi-family rental housing and mixed-use projects across San Diego County over the next decade Currently, the LISC San Diego Neighborhood Catalyst Fund has closed on its first loan of $5.5 million for a new 114-unit affordable housing project in City Heights, San Diego that is expected to open by 2023.

CIT actively supports and invests in affordable housing, economic development, neighborhood stabilization and core community services across its OneWest Bank and CIT Bank (formerly Mutual of Omaha Bank) branch banking footprint. Since 2016, CIT has invested more than $5 billion to advance affordable housing, economic development, education and access to credit for small businesses in Southern California.

About CIT
CIT is a leading national bank focused on empowering businesses and personal savers with the financial agility to navigate their goals. CIT Group Inc. (NYSE: CIT) is a financial holding company with over a century of experience and operates a principal bank subsidiary, CIT Bank, N.A. (Member FDIC, Equal Housing Lender). The company’s commercial banking segment includes commercial financing, community association banking, middle market banking, equipment and vendor financing, factoring, railcar financing, treasury and payments services, and capital markets and asset management. CIT’s consumer banking segment includes a national direct bank and regional branch network. Discover more at cit.com/about.

MEDIA RELATIONS:
Olivia Weiss
212-771-9657
[email protected]

Logo – https://mma.prnewswire.com/media/784850/CIT_Logo.jpg

SOURCE CIT Group Inc.

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