Companies /Consumer Defensive
Keurig Dr Pepper Inc
NASDAQ: KDP Beverages - Non-alcoholic
$33.12
▲ $0.46 (+1.41%) today
Markets closed · 6:43pm ET

Keurig Dr Pepper (KDP) Q3 2025 Earnings

Reported Oct 27, 2025, 6:20am ET · SEC source
$0.54
Beat +0.45%
EPS · est. $0.54
$4.3B
Beat +3.63%
Revenue · est. $4.2B
−4.5%
Trailing market
KDP vs S&P since report
5 quarters
Consecutive EPS beats

How Did KDP Stock React to Q3 2025 Earnings?

% change · around the report
−4%0+4%+8%Oct 27Oct 28report 6:20am ETearnings+0.5%+1.7%
−4%0+4%+8%Oct 27Oct 28earnings+0.5%+1.7%
KDP +1.7%S&P 500 +0.5%
−4%0+4%+8%Oct 27Oct 28report 6:20am ETearnings+1.0%+1.7%
−4%0+4%+8%Oct 27Oct 28earnings+1.0%+1.7%
KDP +1.7%NASDAQ +1.0%
−4%0+4%+8%Oct 27Nov 4report 6:20am ETearnings−1.0%−5.1%
−4%0+4%+8%Oct 27Nov 4earnings−1.0%−5.1%
KDP −5.1%S&P 500 −1.0%
−4%0+4%+8%Oct 27Nov 4report 6:20am ETearnings−0.2%−5.1%
−4%0+4%+8%Oct 27Nov 4earnings−0.2%−5.1%
KDP −5.1%NASDAQ −0.2%
+7.62%
Day of report
−1.30%
Next session
−8.86%
One week
−5.30%
30 days

S&P 500 over the same 30 days: −0.81%.

Did KDP Beat Earnings? Q3 2025 Results

Yes. Keurig Dr Pepper reported Q3 2025 earnings of $0.54 a share on Oct 27, 2025, beating the $0.54 consensus estimate by 0.4%. Revenue was $4.3B against a $4.2B estimate.

Keurig Dr Pepper capped the third quarter of 2025 with results that beat expectations on both the top and bottom lines, as the beverage giant posted adjusted diluted EPS of $0.54, edging past the $0.54 consensus estimate by 0.45%, while revenue climbed 10.7% year-over-year to $4.31 billion, ahead of the $4.16 billion analysts had forecast. The standout driver was the U.S. Refreshment Beverages segment, where net sales surged 14.4% to $2.73 billion, fueled in part by the GHOST acquisition contributing 4.4 percentage points to volume and mix growth across energy and sports hydration categories. GAAP net income rose 7.5% to $662 million. Looking ahead, KDP lifted its full-year 2025 constant currency net sales growth outlook to a high-single-digit range, up from mid-single-digit previously, while reaffirming high-single-digit adjusted EPS growth, with foreign currency translation expected to represent roughly a half percentage point headwind. The company also continued preparations for its planned acquisition of JDE Peet's and subsequent separation into two pure-play businesses, a restructuring projected to unlock approximately $400 million in total cost savings.

Key Takeaways
  • Strong volume/mix growth of 6.4% and favorable net price realization of 4.2%
  • GHOST acquisition contributed 4.4 percentage points to volume/mix growth
  • Market share gains in carbonated soft drinks, energy, and sports hydration
  • K-Cup pricing actions to combat coffee inflation
  • Productivity savings offsetting inflationary pressures
  • Mineral water growth in Mexico and single serve coffee growth in Canada

“We are pleased with our third quarter results, which demonstrated robust growth in U.S. Refreshment Beverages and encouraging sequential progress in U.S. Coffee. Strong innovation and in-market execution drove market share gains across key categories, with sales momentum, along with disciplined actions to offset inflationary pressures, contributing to solid earnings and free cash flow growth. We are focused on sustaining our base business strength while also thoughtfully preparing for the transformation ahead as we first acquire and integrate JDE Peet's and subsequently separate into two, advantaged pure-play companies.”

Keurig Dr Pepper CEO, on the earnings call

What Was Keurig Dr Pepper's Outlook in Q3 2025?

KDP raised its fiscal 2025 constant currency net sales growth outlook to a high-single-digit range, revised upward from mid-single-digit growth previously. The company reaffirmed its adjusted diluted EPS growth outlook in the high-single-digit range. At current exchange rates, foreign currency translation is expected to represent approximately a half percentage point headwind to both top-line and bottom-line full year growth.

KDP YoY Financials

Q3 2025 vs Q3 2024 · SEC filings Q3 2024 Q3 2025
$0$2.0B$4.0B$3.9B$4.3BRevenue$2.1B$2.3BGross Profit$902.0M$995.0MOperating Income$616.0M$662.0MNet Income
$0$2.0B$4.0BRevenueGross ProfitOperating IncomeNet Income
KDP income statement, Q3 2025 versus Q3 2024
Metric Q3 2025 Q3 2024 Year over year
Revenue $4.3B $3.9B +10.7%
Gross Profit $2.3B $2.1B +9.3%
Operating Income $995.0M $902.0M +10.3%
Net Income $662.0M $616.0M +7.5%

KDP Revenue by Segment

U.S. Refreshment Beverages$2.7B+14.4%
U.S. Coffee$991.0M+1.5%
International$580.0M+10.5%

Figures from SEC filings and company reports. Not investment advice.