NASDAQ$KDP

Keurig Dr Pepper Inc · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

Keurig Dr Pepper reported Q3 2025 net sales of $4.31B with net income of $662M.

Net sales were $4.31 billion for the quarter ended September 30, 2025, with net income of $662 million. The beverage portfolio benefited from pricing, mix, and continued single-serve coffee demand.

  • Q3 net sales $4.31B.
  • Net income $662M.
  • Coffee systems and beverage concentrates remain core profit pools.
  • Input costs and promotional activity influence gross margin.

Headline financials

Total Revenue

$4.31B

Previous: $3.89B+10.7%
EPS (adj)

$0.48

Previous: $0.45+6.7%
Adjusted Operating Income

$1.09B

Previous: $1.05B+3.9%
Adjusted Net Income

$738M

Previous: $693M+6.5%
Operating Cash Flow

$639M

No prior period
Diluted Shares Outstanding

1.4B

No prior period
Adjusted Operating Margin

25.3%

No prior period
Capital Expenditures

-$338M

Previous: -$398M+15.1%
Free Cash Flow

$324M

Previous: $218M+48.6%
Net Income

$662M

Previous: $616M+7.5%
Operating Income

$995M

Previous: $902M+10.3%
Gross Profit

$2.34B

Previous: $2.14B+9.3%
Cash & Equivalents

$516M

Previous: $552M-6.5%
Total Assets

$54.6B

Previous: $52.7B+3.6%

Revenue & EPS history

Keurig Dr Pepper · Revenue · Quarterly

$4.31B

Q3 2025+10.7%vs Q3 2024
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Keurig Dr Pepper · $523M total across 1 segment · Q3 2023

  • International
    $523M

Forward guidance

The release discusses Keurig Dr Pepper's outlook, capital allocation, and key risks for upcoming quarters, including guidance ranges or operating priorities where disclosed.

Tailwinds

  • Management discussed operating priorities and capital allocation for upcoming quarters.
  • Keurig Dr Pepper cites demand and execution supporting the near-term outlook.
  • Liquidity and balance-sheet capacity support operations and shareholder returns.

Headwinds

  • Macro, input costs, and FX may pressure margins quarter to quarter.
  • Segment mix and one-time items can affect comparability versus prior periods.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+0.6%

Avg return

Earnings day

-0.4%

Avg return

5 days after

-0.8%

Avg return

30 days after

60%

42 / 70 earnings

Positive

+7.5%

Q1 2026

Best reaction

-7.9%

Q1 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+7.5%+8.5%+9.6%
Q4 2025+2.5%+1.7%-11.8%
Q3 2025+7.3%+0.0%+1.9%
Q2 2025-0.5%+1.0%-21.8%
Q1 2025-2.1%-2.7%-6.5%
Q4 2024+2.4%-1.8%+0.4%
Q3 2024-5.8%-10.4%-11.0%
Q2 2024+3.0%+4.1%+9.0%
Q1 2024+4.3%+4.2%+5.7%
Q4 2023-4.5%-6.6%-5.7%
Q3 2023+2.6%+4.2%+12.1%
Q2 2023+4.2%+4.9%+2.3%
Q1 2023-7.9%-8.3%-11.5%
Q4 2022+0.0%-3.4%-2.5%
Q3 2022+2.0%-2.4%-1.3%
Q2 2022+4.4%+3.9%+4.1%
Q1 2022-1.2%-1.8%-7.1%
Q4 2021+0.6%+0.3%-1.3%
Q3 2021+5.5%+5.2%+2.3%
Q2 2021-0.3%-1.4%-0.6%
Q1 2021+1.8%+1.4%+5.0%
Q4 2020-3.0%-2.2%+12.0%
Q3 2020-3.0%+0.3%+10.9%
Q2 2020-2.1%-4.2%-3.8%
Q1 2020+3.1%-1.5%+5.6%
Q4 2019-3.0%-4.1%-15.1%
Q3 2019+3.7%+3.7%+4.0%
Q2 2019+5.4%+3.1%-2.7%
Q1 2019+1.0%+1.6%-2.6%
Q4 2018-3.5%-3.5%+3.8%
Q3 2018+4.6%+4.8%-3.3%
Q2 2018+0.0%-0.4%-4.1%
Q1 2018+0.8%+1.0%+1.3%
Q4 2017-0.4%-0.7%+1.4%
Q3 2017-3.6%-5.2%-3.5%
Q2 2017-1.4%-1.2%-2.0%
Q1 2017-6.3%-7.7%-5.0%
Q4 2016-0.7%+0.5%+3.1%
Q3 2016-0.4%-2.0%-0.7%
Q2 2016+0.7%+0.8%-4.0%
Q1 2016+3.3%
Q4 2015-2.2%
Q3 2015+5.9%
Q2 2015-0.9%
Q1 2015+0.1%
Q4 2014-3.2%
Q3 2014+2.1%
Q2 2014+5.3%
Q1 2014+2.8%
Q4 2013+2.4%
Q3 2013+2.5%
Q2 2013-3.4%
Q1 2013+0.8%
Q4 2012-5.6%
Q3 2012-2.5%
Q2 2012+4.1%
Q1 2012+0.9%
Q4 2011-0.8%
Q3 2011-6.3%
Q2 2011-3.4%
Q1 2011+0.3%
Q4 2010-2.4%
Q3 2010+2.3%
Q3 2009+2.3%
Q4 2008+0.3%
Q2 2010+0.3%
Q1 2010+5.1%
Q4 2009+5.1%
Q1 2009+5.1%
Q2 2009+5.1%

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