Keurig Dr Pepper Posts Higher 3Q Profit, Sales

By Connor Hart

Keurig Dr Pepper logged higher profit and sales in the latest quarter, as the company invested more in its brands and worked toward its planned separation.

The beverage company reported a third-quarter profit attributable to common shareholders of $810 million, or 59 cents a share, compared with $662 million, or 49 cents a share, a year earlier.

Stripping out one-time items, earnings came in at 66 cents a share. Analysts polled by FactSet expected adjusted earnings of 62 cents a share.

Net sales jumped 71% to $7.34 billion, just ahead of Wall Street models for $7.33 billion.

Sales across the company's U.S. refreshment beverages unit climbed 11% to $3 billion, driven by volume and mix growth of 7.2% and favorable net price realization of 3.7%. Meanwhile, sales across its U.S. coffee business ticked up 2.7% to $1 billion, as volume and mix growth of 6.9% was partially offset by unfavorable net price realization of 4.2%.

JDE Peet's logged net sales of $2.6 billion. Keurig Dr Pepper struck a deal to buy Peet's Coffee owner JDE Peet's for $18 billion last year, a prelude to spinning off its coffee brands into a separate public company.

Chief Executive Tim Cofer said he was pleased with the quarterly results, as Keurig Dr Pepper's beverage portfolio maintained its double-digit growth momentum and the company drove solid results in coffee.

"Notably, we achieved these results while stepping up investment behind our brands and capabilities to position our future two companies for success," he added.

Keurig Dr Pepper continues its work to separate into two companies, including a pure-play coffee company that includes Peet's and Keurig, as well as a refreshment-beverages company.

"As we enter the final stretch of the year, we are on track to deliver our 2026 financial commitments and we remain focused on achieving the remaining milestones to enable our planned separation," Cofer said.

For the year, Keurig Dr Pepper continues to expect constant-currency adjusted earnings-per-share growth in the low double digits, as well as net sales between $25.9 billion and $26.4 billion.

Write to Connor Hart at connor.hart@wsj.com

(END) Dow Jones Newswires

November 03, 2026 07:00 ET (12:00 GMT)