Analyst Consensus ?
ConsensusBuy29 ratings
Bullish1862.1%
Neutral1137.9%
Bearish00.0%
Keurig Dr Pepper Inc. · KDP · FY2025 Q4 · Calendar Q1 2026
Keurig Dr Pepper: Growth Holds, Integration and Costs Remain Key
The call supports a constructive but conditional view: strong refreshment, energy, and hydration trends plus product innovation provide growth support, while coffee inflation, deal execution, and the planned separation could limit the pace and quality of improvement.
Reported Before market openNASDAQConsumer Defensive
$42.80B market cap
100quality score
Earnings scorecard
Reported versus consensus
Reported EPS
$0.60
Consensus $0.59
EPS surprise
+1.9%
Reported versus consensus
Reported revenue
$4.50B
Consensus $4.36B
Revenue surprise
+3.2%
Reported versus consensus
Market reaction
prior-close to event-session close
Stock move
+4.2%
Event window
SPY move
+0.7%
Same window
Abnormal move
+3.5%
Stock minus SPY
Volume
1.9×
Versus trailing sessions
Subsequent drift
-15.5%
Up to 20 sessions
KDPSPY benchmark
Ask FN2 about KDP FY2025 Q4
Transcript, numbers and history already loaded
Why did KDP rise 4.2% after beating EPS estimates in FY2025 Q4?What changed in KDP's guidance and outlook in FY2025 Q4?Give me the bull and bear case for KDP after FY2025 Q4 earnings.
Free account. Your question opens in FN2 with this report's transcript and numbers attached.
Transcript intelligence
What changed
Management emphasized that 2025 performance exceeded expectations and that JDE Peet's integration and separation milestones were progressing. The near-term picture also includes coffee-cost and tariff pressure, retail inventory adjustments, and regulatory uncertainty around SNAP restrictions.
Guidance delta
Management maintained its outlook and described a low-double-digit EPS growth target for 2026; coffee-cost pressure is expected to ease later in the year.
Key takeaways
- Keurig Dr Pepper said 2025 results exceeded expectations, with 8.6% constant-currency net sales growth and 7.3% EPS growth.
- Management highlighted US refreshment share gains, faster energy and sports-hydration growth, and progress on JDE Peet's integration and separation.
- The innovation pipeline includes Keurig Alta, new Dr Pepper and Snapple offerings, and further Ghost energy distribution.
- Coffee commodity costs, tariffs, retail inventory adjustments, SNAP restrictions, and deal execution remain the main risks.
Management priorities
- Integrate JDE Peet's and advance the planned separation into Beverage Co and Global Coffee Co.
- Launch and commercialize the Keurig Alta platform in late 2026.
- Expand energy products and distribution, while developing new beverage and coffee offerings.
- Grow partnerships including La Colombe, Electrolit, and Vita Coco.
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Estimate
Beat
Miss
Match
Analyst 52W Price Targets
$30.86Current
$24Low
$36.25Average
$43High
Latest persisted target per named analyst; persisted current price from FN2's market snapshot as of Sep 29, 2026. Not an FN2 forecast.
Firm-level rating actions
FMP grade actions identify the grading firm, not a named analyst.
| Firm | Rating | Prior rating | Action | Date |
|---|---|---|---|---|
| Argus Research | Buy | Buy | Maintain | Sep 15, 2026 |
| HSBC | Buy | Hold | Upgrade | Aug 13, 2026 |
| Barclays | Overweight | Overweight | Maintain | Aug 10, 2026 |
| UBS | Buy | Buy | Maintain | Aug 7, 2026 |
| Evercore ISI Group | In Line | In Line | Maintain | Aug 7, 2026 |
| JP Morgan | Overweight | Overweight | Maintain | Jul 23, 2026 |
| Citigroup | Buy | Buy | Maintain | Jul 14, 2026 |
| BNP Paribas | Neutral | Underperform | Upgrade | Apr 22, 2026 |
| Wells Fargo | Overweight | Overweight | Maintain | Apr 8, 2026 |
| Deutsche Bank | Hold | Hold | Maintain | Mar 30, 2026 |
| Jefferies | Hold | Buy | Downgrade | Dec 17, 2025 |
| Piper Sandler | Overweight | Overweight | Maintain | Dec 15, 2025 |
| B of A Securities | Buy | Buy | Maintain | Oct 8, 2025 |
| Goldman Sachs | Neutral | Neutral | Maintain | Oct 2, 2025 |
| RBC Capital | Outperform | Outperform | Maintain | Apr 22, 2025 |
| Morgan Stanley | Overweight | Equal Weight | Upgrade | Apr 1, 2025 |
| TD Cowen | Hold | Hold | Maintain | Jan 8, 2025 |
| Truist Securities | Hold | Sell | Upgrade | Jun 17, 2024 |
| Wedbush | Outperform | Outperform | Maintain | Feb 26, 2024 |
| Bernstein | Outperform | Outperform | Maintain | Oct 12, 2023 |
| Credit Suisse | Neutral | Neutral | Maintain | Apr 30, 2021 |
| Bank of America | Buy | Buy | Maintain | Aug 9, 2019 |
| BMO Capital | Outperform | Market Perform | Upgrade | Jun 17, 2019 |
| SunTrust Robinson Humphrey | Buy | Buy | Maintain | Dec 7, 2018 |
| Macquarie | Outperform | Outperform | Maintain | Dec 4, 2018 |
| Gabelli & Co. | Hold | Buy | Downgrade | Nov 9, 2018 |
| Guggenheim | Neutral | Neutral | Maintain | Sep 14, 2018 |
| Susquehanna | Outperform | Positive | Maintain | Jul 25, 2018 |
| Stifel Nicolaus | Hold | Hold | Maintain | Jul 11, 2018 |
Named analyst price targets
Upside is calculated against the persisted current price $30.86. FMP does not supply a rating on these named-analyst rows.
| Firm | Analyst | 52W target | Price when posted | Upside | Date |
|---|---|---|---|---|---|
| Morgan Stanley | Dara Mohsenian | $38 | $31.06 | +23.2% | Aug 20, 2026 |
| HSBC | Analyst unavailable | $40 | $29.56 | +29.6% | Aug 13, 2026 |
| Barclays | Analyst unavailable | $38 | $30.01 | +23.2% | Aug 10, 2026 |
| RBC Capital | Nik Modi | $42 | $30.88 | +36.1% | Aug 4, 2026 |
| UBS | Peter Grom | $38 | $31.05 | +23.2% | Jul 16, 2026 |
| Bernstein | Analyst unavailable | $39 | $31.24 | +26.4% | Jul 8, 2026 |
| Wells Fargo | Analyst unavailable | $37 | $32.73 | +19.9% | Jul 1, 2026 |
| Bernstein | Analyst unavailable | $38 | $31.23 | +23.2% | Jun 11, 2026 |
| UBS | Analyst unavailable | $34 | $28.85 | +10.2% | Apr 24, 2026 |
| Evercore ISI | Analyst unavailable | $30 | $28.76 | -2.8% | Apr 24, 2026 |
| Barclays | Analyst unavailable | $28 | $25.93 | -9.3% | Apr 14, 2026 |
| UBS | Peter Grom | $36 | $30.49 | +16.7% | Feb 26, 2026 |
| Jefferies | Kaumil Gajrawala | $32 | $28.59 | +3.7% | Dec 16, 2025 |
| Piper Sandler | Michael Lavery | $38 | $29.5 | +23.2% | Dec 15, 2025 |
| Deutsche Bank | Analyst unavailable | $32 | $29.5 | +3.7% | Dec 15, 2025 |
| UBS | Peter Grom | $35 | $28.69 | +13.4% | Oct 28, 2025 |
| Barclays | Lauren Lieberman | $30 | $28.64 | -2.8% | Oct 28, 2025 |
| Wells Fargo | Analyst unavailable | $35 | $28.68 | +13.4% | Oct 28, 2025 |
| BNP Paribas | Kevin Grundy | $24 | $27.11 | -22.2% | Sep 22, 2025 |
| HSBC | Sorabh Daga | $30 | $30.48 | -2.8% | Aug 26, 2025 |
| Jefferies | Kaumil Gajrawala | $41 | $31.1 | +32.9% | Aug 25, 2025 |
| HSBC | Analyst unavailable | $42 | $34.4 | +36.1% | Apr 25, 2025 |
| Barclays | Analyst unavailable | $39 | $34.2 | +26.4% | Feb 27, 2025 |
| Piper Sandler | Mike Lavery | $35 | $34.12 | +13.4% | Feb 25, 2025 |
| Jefferies | Kaumil Gajrawala | $42 | $36.92 | +36.1% | Oct 16, 2024 |
| Barclays | Lauren Lieberman | $41 | $36.51 | +32.9% | Oct 11, 2024 |
| Deutsche Bank | Steve Powers | $37 | $37.46 | +19.9% | Sep 23, 2024 |
| Citigroup | Filippo Falorni | $43 | $37.46 | +39.4% | Sep 23, 2024 |
| Barclays | Lauren Lieberman | $37 | $33.14 | +19.9% | Jul 19, 2024 |
| Truist Financial | Bill Chappell | $34 | $34.06 | +10.2% | Jun 17, 2024 |
| UBS | Sean King | $40 | $34.22 | +29.6% | Jun 10, 2024 |
| Wells Fargo | Bonnie Herzog | $41 | $34.82 | +32.9% | Jun 5, 2024 |
| Jefferies | Kaumil Gajrawala | $39 | $33.84 | +26.4% | Apr 25, 2024 |
| Jefferies | Kaumil Gajrawala | $35 | $30.73 | +13.4% | Mar 27, 2024 |
| Credit Suisse | Theo Brito | $38 | $35 | +23.2% | Mar 21, 2023 |
| Wells Fargo | Analyst unavailable | $40 | $35.34 | +29.6% | Jan 3, 2023 |
| Deutsche Bank | Analyst unavailable | $39 | $37.76 | +26.4% | Dec 6, 2022 |
| Deutsche Bank | Steve Powers | $38 | $38.11 | +23.2% | Oct 28, 2022 |
| Goldman Sachs | Bonnie Herzog | $37 | $37.28 | +19.9% | Sep 27, 2022 |
| Barclays | Analyst unavailable | $46 | $37.8 | +49.1% | May 2, 2022 |
| RBC Capital | Analyst unavailable | $43 | $37.99 | +39.4% | Apr 29, 2022 |
| UBS | Sean King | $41 | $34.67 | +32.9% | Jul 30, 2021 |
| Morgan Stanley | Dara Mohsenian | $36 | $35.11 | +16.7% | Apr 30, 2021 |
Track every rating change on KDP the moment it posts. Free to start.
Start freeCompany context
Snapshot as of publicationKeurig Dr Pepper Inc. is a prominent beverage firm with operations spanning both the United States and global markets. The company structures its business across four primary divisions: Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages. Its Coffee Systems division is responsible for the production and distribution of an array of finished products linked to its coffee brewing systems, including K-Cup single-serve pods, brewing machines, and specialized coffee blends. Brewers are offered for sale via external distributors, various retail outlets, and directly through its official website, keurig.com. The Packaged Beverages segment focuses on manufacturing and distributing its proprietary packaged drink labels.…
Historical context
All KDP earningsConsumer Defensive peers this season
Latest reports in the same sector| Company | Quarter | EPS surprise | Market move | Headline |
|---|---|---|---|---|
| COST Costco Wholesale Corporation | FY2026 Q4 · Calendar Q3 2026 | +3.2% | +2.9% | Costco’s growth broadens as warehouses and digital sales accelerate |
| GIS General Mills, Inc. | FY2027 Q1 · Calendar Q3 2026 | +4.6% | +1.0% | General Mills leans on mix, innovation and e-commerce amid pressure |
| KR The Kroger Co. | FY2026 Q2 · Calendar Q3 2026 | +2.8% | +2.7% | Kroger: Strong digital growth offsets softer sales outlook |
| CPB Campbell Soup Company | FY2026 Q4 · Calendar Q3 2026 | +1.1% | -7.0% | Campbell’s leans on savings and innovation amid pressured demand |
| BF-A Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | +3.0% | — | Brown-Forman holds FY27 outlook as RTD innovation offsets barrel pressure |
| BF-B Brown-Forman Corporation | FY2027 Q1 · Calendar Q3 2026 | 0.0% | — | Brown-Forman maintains FY27 outlook as innovation offsets pressure |
Latest beats and misses
Who reports nextBeat on EPS
- COSTFY2026 Q4 · September 24, 2026+3.2% EPS+2.9% move
- SNXFY2026 Q3 · September 24, 2026+20.9% EPS-9.9% move
- DRIFY2027 Q1 · September 24, 20260.0% EPS-3.0% move
- CTASFY2027 Q1 · September 23, 2026+3.0% EPS-3.4% move
- PAYXFY2027 Q1 · September 23, 2026+1.5% EPS-8.8% move
- GISFY2027 Q1 · September 23, 2026+4.6% EPS+1.0% move
Get the KDP recap when the next report posts
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Sources
- Earnings call transcript and parsed analysis · 2026-05-11T10:29:34.698584+00:00
- FN2 earnings calendar · 2026-07-26T00:37:12.209961+00:00
- Polygon adjusted daily market bars · 2026-09-29T14:06:14.294747+00:00
- Financial Modeling Prep analyst price-target consensus and quote snapshot · 2026-09-29T14:06:14.292027+00:00
Methodology
Reported and consensus figures come from FN2's earnings event records. Market reaction and volume are calculated from daily adjusted bars around the event; abnormal move subtracts the SPY move over the same window.
Analyst target low, average, and high values are derived at request time from each named analyst's latest persisted FMP target. The current-price marker comes from FN2's persisted market snapshot. They are sell-side estimates, not an FN2 valuation or recommendation.
Transcript intelligence is a structured synthesis of the current and prior earnings-call analyses. Missing values stay missing and are never estimated.
By FN2 Research · Updated · As of 2026-09-29. For educational purposes only; not investment advice.