Keurig Dr Pepper Inc. (KDP) Earnings Call Transcripts
Keurig Dr Pepper Inc.'s Latest Earnings Call - Q2 FY2026
In the second quarter of 2026, Keurig Dr Pepper Inc. (KDP) reported total net sales of $6.4 billion, reflecting a 75% increase year-over-year, primarily due to the acquisition of JDE Peet's. Adjusted earnings per share (EPS) rose 16% to $0.57, exceeding expectations. Management reaffirmed its full-year guidance, projecting net sales between $25.9 billion and $26.4 billion and low double-digit EPS growth, indicating confidence in ongoing operational momentum despite a dynamic external environment.
Reported metrics
| Metric | Value |
|---|---|
| Total Net Sales | $6.4B (beat) |
| EPS | $0.57 (beat) |
| U.S. Refreshment Beverages Net Sales Growth | 10% (beat) |
| U.S. Coffee Segment Net Sales Decline | -3.2% (miss) |
| Operating Income Growth | 42.9% (beat) |
| Free Cash Flow | $714M (beat) |
Guidance from management
Management reaffirmed full-year guidance for net sales between $25.9 billion and $26.4 billion, with low double-digit EPS growth expected. They noted an anticipated 6 to 7 percentage points contribution from the JDE Peet's acquisition.
What analysts pressed on
Analysts expressed concerns about the U.S. coffee segment's performance, particularly regarding the impact of elevated green coffee costs and category trends. There were also questions about the timeline for appointing a CEO for Global Coffee Co and its potential impact on the separation process.
Main topics on the call
- Strong U.S. Refreshment Beverages Performance — U.S. refreshment beverages segment saw net sales grow at a double-digit rate, driven by a 6.5% increase in volume mix and significant market share gains, particularly in the Dr Pepper Zero Sugar platform, which grew reta...
- Integration of JDE Peet's — The integration of JDE Peet's is progressing well, with management reporting initial cost synergies and a unified sales force. Cofer noted, "We are already well underway and begin to capture the benefits of bringing thes...
- Challenges in U.S. Coffee Segment — The U.S. coffee segment faced challenges, with net sales declining 3.2% and operating income down 24.7% due to elevated green coffee costs and unfavorable category trends. Cofer acknowledged, "We do remain confident that...
- Free Cash Flow Generation — KDP generated healthy free cash flow of $714 million in Q2, supporting its deleveraging goals and capital allocation priorities. DiSilvestro stated, "We continue to target approximately $2.5 billion in free cash flow for...
Read the full Keurig Dr Pepper Inc. transcript (Q2 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About Keurig Dr Pepper Inc.
Keurig Dr Pepper Inc. (KDP) is a publicly listed company in the Beverages industry, within the Consumer Staples sector. It trades on NasdaqGS and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 44 calls on record spanning February 27, 2020 to August 6, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 44 Keurig Dr Pepper Inc. earnings call transcripts on record, spanning February 27, 2020 to August 6, 2026. Based on this history, Keurig Dr Pepper Inc. reports quarterly. The most recent call on file is dated August 6, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- KDP
- Exchange
- NasdaqGS
- Country
- US
- Sector
- Consumer Staples
- Industry
- Beverages
- Calls on record
- 44
- First call
- February 27, 2020
- Most recent
- August 6, 2026
- Reporting cadence
- quarterly