Keurig Dr Pepper Inc. (KDP) Research

Forward Estimates

EPS Estimates

Current Qtr

$0.54

$0.53$0.54

vs $0.49+9.4%

13 analysts

Next Qtr

$0.63

$0.61$0.65

vs $0.54+17.5%

13 analysts

Current Yr

$2.29

$2.26$2.30

vs $2.05+11.5%

16 analysts

Next Yr

$2.52

$2.44$2.65

vs $2.29+10.5%

16 analysts

Revenue Estimates

Current Qtr

$7.23B

$7.01B$7.56B

vs $4.16B+73.7%

11 analysts

Next Qtr

$7.34B

$7.23B$7.49B

vs $4.31B+70.5%

11 analysts

Current Yr

$26.25B

$26.08B$26.37B

vs $16.60B+58.1%

14 analysts

Next Yr

$29.84B

$29.11B$30.23B

vs $26.25B+13.7%

14 analysts

SEC filings →

View all 10-K, 10-Q, and 8-K filings for KDP on EDGAR.

KDP filing events and research context
Filed	Item	Context
Apr 23, 2026	mda_quarterly	Net sales for the first quarter of 2026 rose 9.4% to $3,976 million, though net income fell 47.8% to $270 million and diluted EPS dropped to $0.20. Growth was driven by a 5.5% increase in net price realization and favorable FX, offsetting volume declines in K-Cup pods (down 6.8%) and appliances (down 8.4%) caused by price elasticity. U.S. Refreshment Beverages sales grew 11.9%, supported by energy drink growth, while International sales rose 19.5%. Gross margins contracted 180 basis points to 52.8% due to unfavorable ingredient costs and tariffs. The period was dominated by the €15.11 billion acquisition of JDE Peet's and a planned separation of the beverage and coffee portfolios. Funding for the acquisition included a $4 billion Pod Manufacturing JV, $4.5 billion in convertible preferred stock, $6 billion in senior unsecured notes, and a $3.6 billion delayed draw term loan. These activities increased interest expense by 89.9% and triggered credit rating downgrades from Moody's and S&P, although ratings remain investment grade. SG&A expenses rose 12.6% due to integration and separation costs. KDP continues a network optimization restructuring program with estimated cumulative pre-tax charges of $175 million through 2026.
Feb 24, 2026	risk_factors	KDP faces significant liquidity risks centered on its ability to repay or refinance senior unsecured notes and secure funding for the JDE Peet's Acquisition. Financial flexibility is further constrained by ongoing quarterly dividends, common stock repurchases, and necessary capital expenditures. A credit rating downgrade could increase borrowing costs and disrupt accounts payable programs. Market risks include foreign exchange volatility—specifically the Canadian dollar, Mexican peso, and Euro—and interest rate fluctuations tied to SOFR. The company is also exposed to commodity price volatility for key inputs such as coffee beans, PET, aluminum, sucrose, and natural gas. Operationally, KDP is vulnerable to high customer concentration, with Walmart representing a major portion of net sales. Legal risks include substantial antitrust litigation concerning single-serve coffee brewers and pods, as well as potential remediation costs for Superfund sites in New Jersey and Michigan.
Oct 28, 2025	mda_quarterly	Keurig Dr Pepper reported third-quarter 2025 net sales of $4.3 billion, a 10.7% increase year-over-year, with diluted EPS rising 8.9% to $0.49. Growth was primarily driven by the U.S. Refreshment Beverages segment, where the GHOST acquisition and energy portfolio expansion offset softness in still beverages. In contrast, the U.S. Coffee segment faced headwinds, with appliance volumes falling 26.5% and K-Cup pod volumes declining 6.5% due to price elasticity. Strategically, the company entered an agreement to acquire JDE Peet's and announced a plan to separate its beverage and coffee portfolios into two independent public companies. Financing for these initiatives includes a €16.2 billion bridge loan, a $4 billion minority investment in a Pod Manufacturing JV, and a $3 billion issuance of convertible preferred stock. These capital moves have triggered credit rating warnings, with S&P placing the company on CreditWatch Negative and Moody's placing ratings under review. Financial performance was further pressured by rising labor, transportation, and warehousing expenses, contributing to a 70-basis-point decline in gross margin to 54.3%. Operating margins remained nearly flat at 23.1% as net sales growth was partially offset by these increased SG&A costs.

Filed

Item

Context

Apr 23, 2026

mda_quarterly

Net sales for the first quarter of 2026 rose 9.4% to $3,976 million, though net income fell 47.8% to $270 million and diluted EPS dropped to $0.20. Growth was driven by a 5.5% increase in net price realization and favorable FX, offsetting volume declines in K-Cup pods (down 6.8%) and appliances (down 8.4%) caused by price elasticity. U.S. Refreshment Beverages sales grew 11.9%, supported by energy drink growth, while International sales rose 19.5%. Gross margins contracted 180 basis points to 52.8% due to unfavorable ingredient costs and tariffs. The period was dominated by the €15.11 billion acquisition of JDE Peet's and a planned separation of the beverage and coffee portfolios. Funding for the acquisition included a $4 billion Pod Manufacturing JV, $4.5 billion in convertible preferred stock, $6 billion in senior unsecured notes, and a $3.6 billion delayed draw term loan. These activities increased interest expense by 89.9% and triggered credit rating downgrades from Moody's and S&P, although ratings remain investment grade. SG&A expenses rose 12.6% due to integration and separation costs. KDP continues a network optimization restructuring program with estimated cumulative pre-tax charges of $175 million through 2026.

Feb 24, 2026

risk_factors

KDP faces significant liquidity risks centered on its ability to repay or refinance senior unsecured notes and secure funding for the JDE Peet's Acquisition. Financial flexibility is further constrained by ongoing quarterly dividends, common stock repurchases, and necessary capital expenditures. A credit rating downgrade could increase borrowing costs and disrupt accounts payable programs. Market risks include foreign exchange volatility—specifically the Canadian dollar, Mexican peso, and Euro—and interest rate fluctuations tied to SOFR. The company is also exposed to commodity price volatility for key inputs such as coffee beans, PET, aluminum, sucrose, and natural gas. Operationally, KDP is vulnerable to high customer concentration, with Walmart representing a major portion of net sales. Legal risks include substantial antitrust litigation concerning single-serve coffee brewers and pods, as well as potential remediation costs for Superfund sites in New Jersey and Michigan.

Oct 28, 2025

mda_quarterly

Keurig Dr Pepper reported third-quarter 2025 net sales of $4.3 billion, a 10.7% increase year-over-year, with diluted EPS rising 8.9% to $0.49. Growth was primarily driven by the U.S. Refreshment Beverages segment, where the GHOST acquisition and energy portfolio expansion offset softness in still beverages. In contrast, the U.S. Coffee segment faced headwinds, with appliance volumes falling 26.5% and K-Cup pod volumes declining 6.5% due to price elasticity. Strategically, the company entered an agreement to acquire JDE Peet's and announced a plan to separate its beverage and coffee portfolios into two independent public companies. Financing for these initiatives includes a €16.2 billion bridge loan, a $4 billion minority investment in a Pod Manufacturing JV, and a $3 billion issuance of convertible preferred stock. These capital moves have triggered credit rating warnings, with S&P placing the company on CreditWatch Negative and Moody's placing ratings under review. Financial performance was further pressured by rising labor, transportation, and warehousing expenses, contributing to a 70-basis-point decline in gross margin to 54.3%. Operating margins remained nearly flat at 23.1% as net sales growth was partially offset by these increased SG&A costs.

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KDP filing events and research context

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