Keurig Dr Pepper

Q2 FY2026 EarningsQ2 FY26 results presented a significant beat on top-line revenue ($7.31B vs. $7.23B expected) primarily driven by the strategic acquisition of JDE Peet's. However, GAAP diluted EPS of $0.04 fell drastically short of the $0.52 consensus mean due to $177M in stock-based compensation (mostly JDE Peet's related) and $140M in integration costs. U.S. Refreshment Beverages remained a bright spot with 10% YoY growth, while U.S. Coffee volumes declined 12.8%, signaling continued category softness.