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Keurig Dr Pepper (KDP) earnings date & Q2 2026 results
The quarter in brief
Revenue grew 75.6% y/y to $7.31B, operating margin 8.6% vs 21.6%, net income $60M (−89.0% y/y).
Key growth driver: Net sales increased 75.6% to $7.3 billion mainly because of the JDE Peet's acquisition; excluding it, legacy KDP net sales increased 7.3% on price realization of 4.2%… · by the Q2 2026 report
Net income attributable to common shareholders
$60M
down 89.0% y/y
Net sales
$7,309M
up 75.6% y/y
Income from operations
$628M
down 30.1% y/y
Next report
not announced yet
All figures in $M.
| Line item | Amount and change |
|---|---|
| Net sales | $7,309 · +75.6% |
| Cost of sales | $4,243 · +122% |
| Gross profit | $3,066 · +36.0% · 41.9% margin |
| Selling, general, and administrative expenses | $2,397 · +76.8% |
| Other operating expense, net | $41 · ×41 |
| Income from operations | $628 · −30.1% · 8.6% margin |
| Interest expense, net | $336 · +86.7% |
| Other income, net | $13 · vs $0 |
| Income before provision for income taxes | $305 · −57.5% |
| Provision for income taxes | $95 · −44.4% · 31.1% effective rate |
| Net income attributable to non-controlling interests | $68 · vs $0 |
| Net income allocated to Preferred Investors | $82 · vs $0 |
| Net income attributable to common shareholders | $60 · −89.0% · $0.04/sh · 0.8% margin |
Verdict: revenue grew 75.6% y/y to $7.31B, operating margin 8.6% vs 21.6%, net income $60M (−89.0% y/y).
Diluted EPS $0.04 vs $0.40 a year earlier; adjusted diluted EPS $0.57, up 16.3% (non-GAAP); free cash flow $714 million; full year guidance reaffirmed.
Source and notation
Source: Keurig Dr Pepper earnings release, 8-K EX-99 of 08/06/2026 (SEC EDGAR). The income statement lines were taken from the release by hand; the program found every figure in the release text and checked the accounting identities and the chart balance; revenue and net income match SEC XBRL.
Open the chart as a PNG image ↗ · for sharing and presentations · free to reuse, CC BY 4.0
- Net sales increased 75.6% to $7.3 billion mainly because of the JDE Peet's acquisition; excluding it, legacy KDP net sales increased 7.3% on price realization of 4.2% and volume/mix growth of 3.1%.
- GAAP operating income decreased 30.1% to $628 million on acquisition and integration-related costs; interest expense nearly doubled to $336M from $180M.
- Of the $142M net income attributable to KDP, $82M was allocated to Preferred Investors, leaving $60M for common shareholders; the company is preparing a separation in early 2027.
- Gross margin was 41.9% vs 54.2% a year earlier.
- Operating income was $628M, a 8.6% margin vs 21.6% a year earlier.
- The effective tax rate was 31.1% vs 23.8% a year earlier.
What distorts the picture in this report and what to watch beyond the headlines.
Who runs the company now
As of 10/20/2026, per the company’s SEC filings: signatures on the latest report and leadership-change filings.
Positions: the company’s SEC filings. Spotted an error, or is this you and you’d like it corrected or removed? Contact us
How this is compiled
Who runs the company now comes from primary sources only: for US companies, the CEO and CFO signatures on the latest SEC report, and a separate board chair from the proxy statement (DEF 14A); for Russian and Kazakh issuers, the company website and its disclosures. We recheck weekly; if a name can’t be confirmed, or a leadership-change filing came out after the report, we don’t show it until it’s reviewed. History comes from proxy statements, disclosures, Wikipedia and Wikidata; years show when a term started and ended, “since” means the person is in office now. An outcome for a previous employer is shown only when the linked document states it.
Sources · 2
- SEC EDGAR: 10-Q 2026-08-10 · SEC EDGAR · 10/20/2026
- SEC EDGAR: 10-Q 2026-08-10 · SEC EDGAR · 10/20/2026
Keurig Dr Pepper, Inc. is a publicly traded American multinational beverage company headquartered in Burlington, Massachusetts, and Frisco, Texas. · Text: Wikipedia, CC BY-SA 4.0, abridged
It was formed on July 9, 2018, through the merger of Keurig Green Mountain and Dr Pepper Snapple Group. The company produces and distributes a range of hot and cold beverages, including brands such as Keurig, Dr Pepper, Snapple, Canada Dry, and others. Prior to the merger, Keurig Green Mountain, formerly known as Green Mountain Coffee Roasters, operated as a specialty coffee company and manufacturer of the Keurig single-serve brewing system, while Dr Pepper Snapple Group managed a portfolio of soft drinks and other beverages.
Heads-up
- net income fell 89% y/y in Q2 2026
Most likely because GAAP operating income decreased 30.1% to $628 million on acquisition and integration-related costs; gross margin was 41.9% vs 54.2% a year earlier; the effective tax rate was 31.1% vs 23.8% a year earlier. Based on the Q2 2026 report.
The company's report ↗Company guidance
Same quarter a year ago (ended September 30, 2025): revenue $4.31B, EPS (GAAP) $0.49
How we calculate
Year-ago figures are GAAP, from the company's SEC filings (XBRL); EPS is diluted.
KDP earnings history: past report dates
| Aug 6, 2026 Thu | 7:02 ambefore market open | Jun 30, 2026 | $7.3B+76% y/y | $0.04−90% y/y |
| Apr 23, 2026 Thu | 7:01 ambefore market open | Mar 31, 2026 | $4.0B+9% y/y | $0.20−47% y/y |
| Feb 24, 2026 Tue | 7:01 ambefore market open | Dec 31, 2025 | ≈$4.5B+11% y/y | ≈$0.26 |
| Oct 27, 2025 Mon | 6:20 ambefore market open | Sep 30, 2025 | $4.3B+11% y/y | $0.49+9% y/y |
| Jul 24, 2025 Thu | 7:01 ambefore market open | Jun 30, 2025 | $4.2B+6% y/y | $0.40+5% y/y |
| Apr 24, 2025 Thu | 6:31 ambefore market open | Mar 31, 2025 | $3.6B+5% y/y | $0.38+15% y/y |
| Feb 25, 2025 Tue | 7:02 ambefore market open | Dec 31, 2024 | ≈$4.1B+5% y/y | ≈−$0.11 |
| Oct 24, 2024 Thu | 7:03 ambefore market open | Sep 30, 2024 | $3.9B+2% y/y | $0.45+22% y/y |
| Jul 25, 2024 Thu | 7:04 ambefore market open | Jun 30, 2024 | $3.9B+4% y/y | $0.38+6% y/y |
| Apr 25, 2024 Thu | 7:01 ambefore market open | Mar 31, 2024 | $3.5B+3% y/y | $0.33+0% y/y |
| Feb 22, 2024 Thu | 7:03 ambefore market open | Dec 31, 2023 | ≈$3.9B+2% y/y | ≈$0.49+53% y/y |
| Oct 26, 2023 Thu | 7:01 ambefore market open | Sep 30, 2023 | $3.8B+5% y/y | $0.37+185% y/y |
| Jul 27, 2023 Thu | 7:02 ambefore market open | Jun 30, 2023 | $3.8B+7% y/y | $0.36+140% y/y |
| Apr 27, 2023 Thu | 7:00 ambefore market open | Mar 31, 2023 | $3.4B+9% y/y | $0.33−20% y/y |
| Feb 23, 2023 Thu | 6:33 ambefore market open | Dec 31, 2022 | ≈$3.8B+12% y/y | ≈$0.32−46% y/y |
| Oct 27, 2022 Thu | 6:32 ambefore market open | Sep 30, 2022 | $3.6B+11% y/y | $0.13−65% y/y |
| Jul 28, 2022 Thu | 6:32 ambefore market open | Jun 30, 2022 | $3.6B+13% y/y | $0.15−52% y/y |
| Apr 28, 2022 Thu | 7:00 ambefore market open | Mar 31, 2022 | $3.1B+6% y/y | $0.41+78% y/y |
| Feb 24, 2022 Thu | 6:31 ambefore market open | Dec 31, 2021 | ≈$3.4B+9% y/y | ≈$0.59+97% y/y |
| Oct 28, 2021 Thu | 7:02 ambefore market open | Sep 30, 2021 | $3.3B+8% y/y | $0.37+19% y/y |
| Jul 29, 2021 Thu | 7:01 ambefore market open | Jun 30, 2021 | $3.1B+10% y/y | $0.31+48% y/y |
| Apr 29, 2021 Thu | 6:34 ambefore market open | Mar 31, 2021 | $2.9B+11% y/y | $0.23+109% y/y |
| Feb 25, 2021 Thu | 6:32 ambefore market open | Dec 31, 2020 | $3.1B+6% y/y | $0.30+3% y/y |
| Oct 29, 2020 Thu | 6:48 ambefore market open | Sep 30, 2020 | $3.0B+5% y/y | $0.31+48% y/y |
| Jul 30, 2020 Thu | 7:12 ambefore market open | Jun 30, 2020 | $2.9B+2% y/y | $0.21−5% y/y |
| Apr 27, 2020 Mon | 4:16 pmafter market close | Mar 31, 2020 | $2.6B+4% y/y | $0.11−31% y/y |
| Feb 27, 2020 Thu | 7:03 ambefore market open | Dec 31, 2019 | $2.9B+4% y/y | $0.29+53% y/y |
| Nov 7, 2019 Thu | 7:38 ambefore market open | Sep 30, 2019 | $2.9B+5% y/y | $0.21+91% y/y |
| Aug 8, 2019 Thu | 7:33 ambefore market open | Jun 30, 2019 | $2.8B+49% y/y | $0.22+120% y/y |
| May 9, 2019 Thu | 8:03 ambefore market open | Mar 31, 2019 | $2.5B+57% y/y | $0.16+45% y/y |
| Feb 28, 2019 Thu | 8:20 ambefore market open | Dec 31, 2018 | $2.8B+140% y/y | $0.19−75% y/y |
| Nov 7, 2018 Wed | 4:36 pmafter market close | Sep 30, 2018 | $2.7B+57% y/y | $0.11−21% y/y |
| Aug 8, 2018 Wed | 8:34 ambefore market open | Jun 30, 2018 | $1.9B+5% y/y | $0.10+43% y/y |
| Oct 25, 2017 Wed | 7:05 ambefore market open | Sep 30, 2017 | $1.7B+4% y/y | $0.14 |
| Jul 27, 2017 Thu | 8:01 ambefore market open | Jun 30, 2017 | $1.8B+6% y/y | $0.07 |
| Apr 26, 2017 Wed | 7:01 ambefore market open | Mar 31, 2017 | $1.5B+2% y/y | $0.07 |
| Feb 14, 2017 Tue | 8:01 ambefore market open | Dec 31, 2016 | $1.2B−22% y/y | $0.18 |
| Oct 27, 2016 Thu | 8:04 ambefore market open | Sep 30, 2016 | $1.7B+3% y/y | — |
| Jul 27, 2016 Wed | 7:02 ambefore market open | Jun 30, 2016 | $1.7B+2% y/y | — |
| Apr 27, 2016 Wed | 8:02 ambefore market open | Mar 31, 2016 | $1.5B+2% y/y | — |
| Feb 17, 2016 Wed | 8:04 ambefore market open | Dec 31, 2015 | $1.5B+2% y/y | — |
| Oct 22, 2015 Thu | 8:02 ambefore market open | Sep 30, 2015 | $1.6B+3% y/y | — |
| Jul 23, 2015 Thu | 8:03 ambefore market open | Jun 30, 2015 | $1.7B+1% y/y | — |
| Apr 23, 2015 Thu | 8:02 ambefore market open | Mar 31, 2015 | $1.5B+4% y/y | — |
| Feb 12, 2015 Thu | 8:04 ambefore market open | Dec 31, 2014 | $1.5B+3% y/y | — |
| Oct 23, 2014 Thu | 8:03 ambefore market open | Sep 30, 2014 | $1.6B+3% y/y | — |
| Jul 24, 2014 Thu | 8:04 ambefore market open | Jun 30, 2014 | $1.6B+1% y/y | — |
| Apr 23, 2014 Wed | 8:03 ambefore market open | Mar 31, 2014 | $1.4B+1% y/y | — |
| Feb 12, 2014 Wed | 8:06 ambefore market open | Dec 31, 2013 | $1.5B−1% y/y | — |
| Oct 23, 2013 Wed | 8:14 ambefore market open | Sep 30, 2013 | $1.5B+1% y/y | — |
| Jul 24, 2013 Wed | 7:05 ambefore market open | Jun 30, 2013 | $1.6B−1% y/y | — |
| Apr 24, 2013 Wed | 8:10 ambefore market open | Mar 31, 2013 | $1.4B+1% y/y | — |
| Feb 13, 2013 Wed | 8:05 ambefore market open | Dec 31, 2012 | $1.5B+2% y/y | — |
| Oct 24, 2012 Wed | 8:09 ambefore market open | Sep 30, 2012 | $1.5B−0% y/y | — |
| Jul 26, 2012 Thu | 8:07 ambefore market open | Jun 30, 2012 | $1.6B+2% y/y | — |
| Apr 25, 2012 Wed | 8:20 ambefore market open | Mar 31, 2012 | $1.4B+2% y/y | — |
| Feb 15, 2012 Wed | 8:07 ambefore market open | Dec 31, 2011 | $1.5B | — |
| Oct 26, 2011 Wed | 8:09 ambefore market open | Sep 30, 2011 | $1.5B | — |
| Jul 27, 2011 Wed | 8:09 ambefore market open | Jun 30, 2011 | $1.6B | — |
| Apr 27, 2011 Wed | 8:09 ambefore market open | Mar 31, 2011 | $1.3B | — |
Show all 60 reports since 2011Show fewer
How we count
Report date and time — when the company filed its results press release with the SEC (Form 8-K, Item 2.02); the regular session runs 9:30 am – 4:00 pm ET. Companies that file the 8-K late in the evening publish the release the next morning: the date is that morning, before market open, and the evening filing time is not shown. Revenue and diluted EPS — the company’s XBRL filings, EPS adjusted for stock splits; ≈ — fourth quarter derived as full year minus three quarters. Source: SEC EDGAR.
Keurig Dr Pepper: 15-year financials
| 2025 | 16,603 | 3,575 | 2,079 | 1,505 | 1,250 |
| 2024 | 15,351 | 2,591 | 1,441 | 1,656 | 1,194 |
| 2023 | 14,814 | 3,192 | 2,181 | 904 | 1,142 |
| 2022 | 14,057 | 2,605 | 1,436 | 2,484 | 1,080 |
| 2021 | 12,683 | 2,894 | 2,146 | 2,451 | 955 |
| 2020 | 11,618 | 2,480 | 1,325 | 1,995 | 846 |
| 2019 | 11,120 | 2,378 | 1,254 | 2,144 | 844 |
| 2018 | —* | 1,237 | 586 | 1,433 | 232 |
| 2017 | —* | 1,388 | 1,076 | 836 | 414 |
| 2016 | —* | 1,433 | 847 | 781 | 386 |
| 2015 | 6,282 | 1,298 | 764 | 835 | 355 |
| 2014 | 6,121 | 1,180 | 703 | 852 | 317 |
| 2013 | 5,997 | 1,046 | 624 | 687 | 302 |
| 2012 | 5,995 | 1,092 | 629 | 265 | 284 |
| 2011 | 5,903 | 1,024 | 606 | 545 | 251 |
$ millions, annual 10-K reports on SEC EDGAR (US GAAP)*.
How we calculate
Figures are annual report lines; if a year was later restated (discontinued operations, mergers), we use the latest filing that shows it. Free cash flow is operating cash flow minus capital expenditures; dividends are cash paid to common shareholders during the year. “—” means the line isn’t in the filing. “—*” in revenue: we don’t show that year’s revenue — the annual figure is more than 2% off the sum of the quarters, or the filing tags several revenue lines and the total can’t be pinned down. The table starts in 2011; where the listed issuer changed (holding reorganization, redomicile), earlier years come from the predecessor’s filings.
Shareholders’ equity at Jun 30, 2026: $25.0B (29% of total assets). Compare with other S&P 500 companies →
Included in screener lists: S&P 500 companies that paid dividends 10 years without a gap
Keurig Dr Pepper (KDP) earnings: FAQ
When is KDP's next earnings date?
We have not yet seen an announcement of the date from Keurig Dr Pepper (KDP). Based on last year's report on Oct 27, 2025, the next report is expected around Oct 26, 2026.
What time does KDP report earnings?
Keurig Dr Pepper usually reports before market open: its latest results release was filed with the SEC at 7:02 am ET on Aug 6, 2026.
When did KDP last report earnings?
Keurig Dr Pepper reported Q2 2026 results on Aug 6, 2026.
Where can I find Keurig Dr Pepper's financial statements?
On SEC EDGAR: quarterly reports (10-Q), the annual report (10-K) and earnings releases (8-K). The “Verified” badge next to the chart links to KDP's filings; this page breaks the latest report down in a Sankey chart.
What was KDP's net income in Q2 2026?
Keurig Dr Pepper reported net income of $60M for Q2 2026 (−89.0% year over year), under US GAAP.
Does Keurig Dr Pepper pay dividends?
Yes. In 2025, Keurig Dr Pepper paid $1,250M in dividends on its common stock, per its 10-K. Earlier years are in the 15-year table above.
How has Keurig Dr Pepper's revenue changed since 2011?
Per its 10-K filings, revenue grew 2.8x: $5,903M in 2011 and $16,603M in 2025. The latest year is the highest in the table. Year-by-year figures are in the table above.
New to earnings reports? Start with how to read an earnings report.
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