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Keurig Dr Pepper KDP Q2 2026 earnings

Reported August 6, 2026 · Before market open

Revenue$7.3BBeat by $77.4M
Adjusted EPS$0.57Beat by $0.03
Revenue estimate$7.2B
EPS estimate$0.54
“We delivered another strong quarter of results, with Q2 EPS exceeding our expectations. U.S. Refreshment Beverages generated double-digit top-and bottom-line growth, KDP International sequentially improved as planned, and our combined coffee platform delivered solid performance, with healthy JDE Peet's results balanced against U.S. Coffee pressures. We also made meaningful progress on our integration and separation work, including capturing initial cost synergies, advancing key organizational readiness milestones, and generating robust free cash flow to support balance sheet deleveraging. At the midpoint of the year, we remain on track to achieve our 2026 financial and transformation commitments while preparing for a successful separation in early 2027.”
Tim Cofer

Next report

Oct 26, 2026 (in 2 months)
Revenue estimate$7.3B
EPS estimate$0.64

Financials

Q2 2026

Income statement

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Revenue$7.3B+75.6%
Gross profit$3.1B+36.0%
Operating income$628.0M-30.1%
Net income$142.0M-74.0%
EPS (diluted)$0.04-90.0%

Balance sheet

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Cash & equivalents$1.6B+175%
Total debt$27.0B+67.4%
Total equity$25.0B+0.2%
Total assets$87.6B+61.2%

Cash flow

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Operating cash flow$895.0M+108%
CapEx$181.0M+70.8%
Free cash flow$714.0M+120%

Valuation & ratios

Valuation

as of 08/27/26
See full
Market cap$43.83B+8.6%
Enterprise value$69.28B+23.8%
P/E30.7×+6.7×
P/S2.2×-0.4×

Profitability

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Gross margin49.4%-5.5pp
Operating margin16.2%-0.7pp
Net margin7.1%-3.6pp
FCF margin9.8%-0.4pp

Returns & leverage

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Return on equity5.7%-1.1pp
Debt / equity1.1×+0.4×
Current ratio0.5×-0.2×

Segments

By segment

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U.S. Refreshment Beverages$2.9B+10.0%
JDE Peet's$2.8B—
U.S. Coffee$918.0M-3.2%
KDP International$664.0M—

By product

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LRB$3.4B+12.9%
Other$278.0M+216%
Appliances$148.0M+10.4%

FAQ

When did Keurig Dr Pepper report Q2 2026 earnings?
Keurig Dr Pepper (KDP) reported Q2 2026 earnings on August 6, 2026 before market open.
What were Keurig Dr Pepper's Q2 2026 revenue and EPS?
Keurig Dr Pepper reported revenue of $7.3B and adjusted eps of $0.57 for Q2 2026.
Did Keurig Dr Pepper beat estimates in Q2 2026?
Revenue beat the consensus estimate of $7.2B by $77.4M. EPS beat the consensus estimate of $0.54 by $0.03.
How did Keurig Dr Pepper's Q2 2026 results compare year-over-year?
Compared to the same quarter a year prior, revenue grew 75.6% from $4.2B a year earlier.
Where can I find Keurig Dr Pepper's Q2 2026 SEC filings?
You can read the 8-K earnings release (0001418135-26-000048) and the 10-Q periodic report (0001418135-26-000051) directly on SEC EDGAR. The filing index links above go to sec.gov.