Keurig Dr Pepper delivers $7.34 billion Q3 sales as earnings beat estimates
Key points
- Keurig Dr Pepper reported third-quarter 2026 net sales of $7.34 billion, up 70.6% year over year, supported by its acquisition of JDE Peet's and growth across its existing businesses.
- Adjusted diluted EPS increased to $0.66, exceeding the $0.62 analyst estimate, while GAAP diluted EPS rose 20.4% to $0.59.
- Keurig Dr Pepper maintained its 2026 sales forecast of $25.9 billion–$26.4 billion and continued preparations to separate its coffee and refreshment beverage businesses.
Keurig Dr Pepper (NASDAQ:KDP) reported third-quarter 2026 net sales of $7.34 billion, up 70.6% year over year, as adjusted earnings of $0.66 per share exceeded the $0.62 analyst consensus estimate.
GAAP diluted earnings per share increased 20.4% to $0.59, while legacy net sales excluding JDE Peet's rose 8.6%, supported by volume growth and higher prices.
Adjusted operating income increased 52.5% to approximately $1.7 billion, representing 22.7% of sales, while operating cash flow reached $1.04 billion and free cash flow totaled $1.01 billion.
The company maintained its 2026 revenue forecast of $25.9 billion–$26.4 billion and low-double-digit constant-currency adjusted EPS growth outlook, while its shares rose 1.23% in premarket trading following the announcement.
Elsewhere, U.S. Refreshment Beverages revenue increased 10.9% to $3.03 billion, U.S. Coffee sales rose 2.7% to $1.02 billion, and the newly acquired JDE Peet's business contributed $2.65 billion.
Keurig Dr Pepper continues preparing to separate its coffee and refreshment beverage operations into two publicly traded companies, following its April acquisition of JDE Peet's.
