Burlington, Massachusetts-based Keurig Dr Pepper (NASDAQ:KDP), a producer and distributor of hot and cold beverages in North America, reported strong full-year 2025 financial results and provided an optimistic 2026 outlook on February 24, 2026.
For the full year ended December 31, 2025, net sales increased 8.2% to $16.6 billion, driven by volume/mix gains in core brands such as Dr Pepper, Canada Dry, Snapple, and Keurig brewing systems, alongside favorable pricing and productivity initiatives that helped offset inflationary pressures in packaging, commodities, and transportation.
Adjusted diluted earnings per share rose 7.3% to $2.05, supported by gross margin expansion from revenue management and supply chain efficiencies, partially offset by higher marketing investments and overhead costs.
Operating cash flow reached $1.99 billion, while free cash flow totaled $1.52 billion.
For 2026, Keurig Dr Pepper provided guidance projecting net sales in the range of $25.9 billion to $26.4 billion, incorporating the expected full-year contribution from its equity-method investment in JDE Peet's following the previously announced transaction structure.