Key facts
- Keurig Dr Pepper reaffirmed its annual financial forecasts.
- The company exceeded second-quarter sales and profit estimates.
- Strong performance in soda and energy drinks offset weakness in the coffee business.
- Net sales surged 75.6% to $7.31 billion, boosted by the JDE Peet's acquisition.
- Adjusted earnings per share were 57 cents, beating analyst expectations of 54 cents.
Keurig Dr Pepper maintained its annual financial forecasts after exceeding second-quarter sales and profit estimates, driven by strong performance in its soda and energy drink portfolios, despite a weaker coffee business. The company's net sales increased by 75.6% to $7.31 billion, significantly boosted by the acquisition of JDE Peet's. Adjusted earnings per share came in at 57 cents, surpassing analyst expectations of 54 cents.
The U.S. Refreshment Beverages division, identified as the primary growth driver, saw a 10% sales jump. Conversely, the U.S. coffee business faced pressure, with segment sales falling 3.2% due to an 8.2% decline in volume, which offset a 5% price increase.
CEO Tim Cofer stated the company is on track to meet its 2026 financial and operational targets and is proceeding with preparations to separate its coffee and beverage operations into two U.S.-listed public companies, anticipated in early 2027. Shares of Keurig Dr Pepper rose approximately 2% in premarket trading, contributing to a nearly 10% gain for the year.