The earnings call conveyed a positive sentiment overall, with strong growth in net sales, particularly in the U.S. refreshment beverages and energy segments, despite challenges such as rising costs and pressures in the coffee segment.

Company Guidance -

Q3 2025

During the Keurig Dr Pepper earnings call for the second quarter of fiscal year 2025, the company reported strong performance, with net sales increasing by 7.2% in constant currency. The growth was driven by a 5% increase in volume mix and a 2.2% rise in net price realization. The U.S. refreshment beverages segment saw a notable net sales growth of 10.5%, largely attributed to a 9.5% increase in volume mix, including contributions from the GHOST acquisition. U.S. coffee showed sequential improvement with net sales declining slightly by 0.2% but achieving a 3.6% increase in net price. International sales grew by 5.7%, spurred by a 5.3% increase in net price. Operating income grew by 7%, and the company maintained its guidance for mid-single-digit net sales growth and high single-digit earnings per share growth for the year. The company also highlighted its strategic initiatives, including the expansion of its energy portfolio, the acquisition of Dilo brands, and marketing innovations aimed at driving long-term growth.

Strong Enterprise Growth

Net sales increased 7% with contributions from both price and volume mix, reflecting continued momentum in U.S. refreshment beverages and International segments, alongside sequential progress in coffee.

U.S. Refreshment Beverages Performance

Net sales grew almost 11%, driven by core strength and rapid expansion in recently entered white spaces, with Dr. Pepper, 7UP, and Canada Dry gaining market share.

Energy Segment Expansion

The energy segment, comprising GHOST, C4, Bloom, and Black Rifle, now represents over $1 billion in annual run-rate net sales with a 7% market share, marking rapid growth from below 1% a few years ago.

International Segment Growth

Net sales increased by 6%, driven by pricing and operating income growth, with market share gains in key categories such as mineral water in Mexico and K-Cup pods in Canada.

Capital Allocation and Cash Flow

Generated $325 million in free cash flow in the second quarter, with a focus on organic and inorganic investments, balance sheet strengthening, and returning cash to shareholders.

Keurig Dr Pepper (KDP) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KDP Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Oct 23, 2025	2025 (Q3)	0.54 / -	0.51	―	―	―
Jul 24, 2025	2025 (Q2)	0.48 / 0.49	0.45	8.89% (+0.04)
Apr 24, 2025	2025 (Q1)	0.38 / 0.42	0.38	10.53% (+0.04)
Feb 25, 2025	2024 (Q4)	0.57 / 0.58	0.55	5.45% (+0.03)
Oct 24, 2024	2024 (Q3)	0.51 / 0.51	0.48	6.25% (+0.03)
Jul 25, 2024	2024 (Q2)	0.45 / 0.45	0.42	7.14% (+0.03)
Apr 25, 2024	2024 (Q1)	0.35 / 0.38	0.34	11.76% (+0.04)	―
Feb 22, 2024	2023 (Q4)	0.54 / 0.55	0.5	10.00% (+0.05)	―
Oct 26, 2023	2023 (Q3)	0.47 / 0.48	0.46	4.35% (+0.02)	―
Jul 27, 2023	2023 (Q2)	0.40 / 0.42	0.39	7.69% (+0.03)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

KDP Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jul 24, 2025	$33.50	$33.57	+0.21%
Apr 24, 2025	$34.94	$34.22	-2.06%
Feb 25, 2025	$33.66	$34.46	+2.38%
Oct 24, 2024	$35.94	$34.21	-4.81%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.