Keurig Dr Pepper Reports Q4 and Full Year 2025 Results
Keurig Dr Pepper Inc. has released its financial results for the fourth quarter and full year ending December 31, 2025, along with its outlook for 2026. The company reported strong performance, driven by significant growth in its U.S. Refreshment Beverages segment and strategic acquisitions.
Financial Highlights
For the fourth quarter of 2025, Keurig Dr Pepper reported net sales of $4.50 billion, a 10.5% increase compared to the same period last year. The company's diluted EPS for the quarter was $0.26, a significant improvement from a loss of $0.11 in the fourth quarter of 2024. For the full year, net sales reached $16.60 billion, up 8.2% from 2024, with a diluted EPS of $1.53, marking a 45.7% increase year-over-year.
Business and Operational Highlights
The U.S. Refreshment Beverages segment saw a notable 11.9% increase in net sales for the full year, driven by a 9.0% growth in volume/mix and a 2.9% favorable net price realization. The acquisition of GHOST contributed significantly to this growth. The U.S. Coffee segment experienced a modest 0.6% increase in net sales, with a decline in brewer sales offset by an increase in K-Cup pod sales. Internationally, net sales grew by 5.9%, with strong performance in mineral water in Mexico and single-serve coffee in Canada.
Strategic Initiatives and Corporate Developments
Keurig Dr Pepper announced the upcoming transition of the Board Chair role from Bob Gamgort to Pamela Patsley, effective at the end of the first quarter of 2026. The company also highlighted its strategic acquisition of JDE Peet’s, which is expected to close in early April 2026, and the subsequent plan to separate into two pure-play companies.
Management's Perspective
CEO Tim Cofer commented on the company's performance, stating, "2025 was another strong year for KDP. We delivered on our guidance, navigated the dynamic operating environment with agility, and executed well in the marketplace with winning innovation and robust commercial activation of our brands." He also emphasized the company's focus on integrating JDE Peet’s and progressing towards the separation into two companies.
Future Outlook
For 2026, Keurig Dr Pepper expects net sales to be in the range of $25.9-$26.4 billion, with constant currency adjusted diluted EPS growth in the low-double-digit range. This guidance includes a 4-6% growth for KDP’s standalone business and an incremental contribution from JDE Peet’s.
Original SEC Filing: Keurig Dr Pepper Inc. [ KDP ] - 8-K - Feb. 24, 2026