Keurig Dr Pepper Inc. filed its Form 10-Q for the quarterly period ended June 30, 2026 with the Securities and Exchange Commission, reporting second-quarter and first-half financial results that reflect the April 1, 2026 acquisition of JDE Peet's.

Key Highlights

  • Q2 2026 net sales of $7,309 million, compared to $4,163 million in Q2 2025, according to the filing.
  • Q2 2026 net income attributable to KDP was $142 million, down from $547 million in Q2 2025, with basic and diluted earnings per share of $0.04.
  • JDE Peet's acquisition closed April 1, 2026, adding significant scale and contributing to year-over-year revenue and cost changes.
  • First-half 2026 net sales totaled $11,285 million, versus $7,798 million for the first six months of 2025.
  • Q2 2026 interest expense, net was $336 million, compared to $180 million in Q2 2025, reflecting increased borrowing associated with the acquisition.
  • 1,360,826,038 shares of common stock outstanding as of August 6, 2026, per the filing.
  • A planned separation of KDP's beverage and coffee portfolios into two independent, publicly traded companies was announced on August 25, 2025, as described in the filing's glossary.

JDE Peet's Acquisition Reshapes Keurig Dr Pepper's Second-Quarter 2026 Financials

Keurig Dr Pepper Inc. (NASDAQ: KDP), headquartered in Frisco, Texas, reported second-quarter 2026 net sales of $7,309 million and gross profit of $3,066 million, according to the filing. For the same period in 2025, net sales were $4,163 million and gross profit was $2,255 million. The company attributed a significant portion of the year-over-year increase to the JDE Peet's Acquisition, which closed on April 1, 2026, and added JDE Peet's N.V. - which became JDEP Coffee B.V. on May 1, 2026 - to KDP's consolidated results.

Income from operations for Q2 2026 was $628 million, compared to $898 million in Q2 2025. Selling, general, and administrative expenses rose to $2,397 million in Q2 2026 from $1,356 million in Q2 2025. Interest expense, net increased to $336 million in Q2 2026 from $180 million in the prior-year period, reflecting the company's expanded debt obligations. Net income for Q2 2026 was $210 million in total, with $68 million attributable to non-controlling interests, leaving net income attributable to KDP of $142 million, versus $547 million in Q2 2025.

For the first six months of 2026, the filing reported net sales of $11,285 million and net income attributable to KDP of $412 million, compared to $7,798 million in net sales and $1,064 million in net income attributable to KDP for the first six months of 2025. Basic earnings per common share for the first half of 2026 were $0.24, versus $0.78 for the same period in 2025. The filing also references a planned separation of KDP's beverage and coffee portfolios into two independent, publicly traded companies, which was announced on August 25, 2025, and describes a Series A Convertible Perpetual Preferred Stock issuance under a Preferred Investment Agreement dated October 27, 2025 with KKR and Apollo investors.

What Was Disclosed

Keurig Dr Pepper filed its quarterly report for the period ended June 30, 2026, disclosing Q2 and first-half income statement results, the April 1, 2026 JDE Peet's acquisition, expanded debt and interest costs, and a previously announced planned separation of its business portfolios.