KDP
FY2026 Q1 · Calendar Q2 2026
Keurig Dr Pepper Inc.
Keurig Dr Pepper delivered a solid Q1 beat with net sales up 8% and EPS of $0.39 versus $0.37 consensus, powered by U.S. refreshment beverage strength. The company closed its transformative JDE Peet's acquisition on April 1, 2026, and reaffirmed its low-double-digit EPS growth outlook for 2026. Near-term coffee cost headwinds and trade inventory adjustments pressured the coffee segment, but management expects profitability improvement in the second half. The stock responded with an approximately 7.5% move on the report. The planned separation into Beverage Co. and Global Coffee Co. is targeted for early 2027, with $2.5B in projected free cash flow for 2026 supporting deleveraging from the roughly 4.5x leverage position.
EPS surprise+4.7%
Market move+7.5%
