KDP Stock - Keurig Dr Pepper Inc.
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Financial Statements
| Metric | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 |
|---|---|---|---|---|---|
| Revenue | $15.35B | $14.81B | $14.06B | $12.68B | $11.62B |
| Gross Profit | $8.53B | $8.08B | $7.32B | $6.98B | $6.49B |
| Gross Margin | 55.6% | 54.5% | 52.1% | 55.0% | 55.8% |
| Operating Income | $2.59B | $3.19B | $2.60B | $2.89B | $2.48B |
| Net Income | $1.44B | $2.18B | $1.44B | $2.15B | $1.32B |
| Net Margin | 9.4% | 14.7% | 10.2% | 16.9% | 11.4% |
| EPS | $1.06 | $1.56 | $1.01 | $1.52 | $0.94 |
Keurig Dr Pepper Inc. operates as a beverage company in the United States and internationally. It operates through Coffee Systems, Packaged Beverages, Beverage Concentrates, and Latin America Beverages segments. The Coffee Systems segment manufactures and distributes various finished goods related to its coffee systems, K-Cup pods, and brewers, as well as specialty coffee. This segment sells its brewers through third-party distributors and retail partners, as well as through its website at keurig.com. The Packaged Beverages segment engages in the manufacture and distribution of packaged beverages of its brands; contract manufacturing of various private label and emerging brand beverages; and distribution of packaged beverages for its partner brands. The Beverage Concentrates segment manufactures and sells beverage concentrates primarily under the Dr Pepper, Canada Dry, A&W, 7UP, Sunkist, Squirt, Big Red, RC Cola, Vernors, Snapple, Mott's, Bai, Hawaiian Punch, Clamato, Yoo-Hoo, Core, ReaLemon, evian, Vita Coco, and Mr and Mrs T mixers brands. This segment also manufactures beverage concentrates into syrup. The Latin America Beverages segment manufactures and distributes carbonated mineral water, flavored carbonated soft drinks, bottled water, and vegetable juice products under the Peñafiel, Clamato, Squirt, Dr Pepper, Crush, and Aguafiel brands. The company serves retailers, bottlers and distributors, restaurants, hotel chains, office coffee distributors, and end-use consumers. Keurig Dr Pepper Inc. was founded in 1981 and is headquartered in Burlington, Massachusetts.
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Price Targets
Recent Analyst Actions
| Date | Firm | Action | Rating | Price Target |
|---|---|---|---|---|
| December 17th 2025 | Jefferies | Downgrade | Hold | $32 |
| December 15th 2025 | Deutsche Bank | Downgrade | Hold | $32 |
| October 1st 2025 | TD Cowen | Reiterated | Hold | $28← $36 |
| September 24th 2025 | Barclays | Downgrade | Equal Weight | $26 |
| September 22nd 2025 | BNP Paribas Exane | Downgrade | Underperform | $24 |
| August 26th 2025 | HSBC Securities | Downgrade | Hold | $30 |
| April 25th 2025 | HSBC Securities | Upgrade | Buy | $42 |
| April 16th 2025 | Argus | Initiation | Buy | $40 |
| April 9th 2025 | Piper Sandler | Upgrade | Overweight | $40 |
| April 1st 2025 | Morgan Stanley | Upgrade | Overweight | $40 |
| January 7th 2025 | Piper Sandler | Initiation | Neutral | $35 |
| December 12th 2024 | Deutsche Bank | Upgrade | Buy | $39← $37 |
| September 23rd 2024 | Citigroup | Upgrade | Buy | $43← $36 |
| June 24th 2024 | Exane BNP Paribas | Initiation | Neutral | $36 |
| June 17th 2024 | Truist | Upgrade | Hold | $34← $27 |
Earnings History & Surprises
KDPEPS Surprise History
Quarterly EPS Details
| Period | Report Date | Estimated EPS | Actual EPS | Surprise | Result |
|---|---|---|---|---|---|
Q2 2026 | Apr 22, 2026 | — | — | — | — |
Q1 2026 | Feb 24, 2026 | $0.59 | — | — | — |
Q4 2025 | Oct 27, 2025 | $0.54 | $0.54 | +0.6% | ✓ BEAT |
Q3 2025 | Jul 24, 2025 | $0.49 | $0.49 | +1.0% | ✓ BEAT |
Q2 2025 | Apr 24, 2025 | $0.38 | $0.42 | +9.8% | ✓ BEAT |
Q1 2025 | Feb 25, 2025 | $0.57 | $0.58 | +1.6% | ✓ BEAT |
Q4 2024 | Oct 24, 2024 | $0.51 | $0.51 | 0.0% | = MET |
Q3 2024 | Jul 25, 2024 | $0.45 | $0.45 | 0.0% | = MET |
Q2 2024 | Apr 25, 2024 | $0.35 | $0.38 | +8.6% | ✓ BEAT |
Q1 2024 | Feb 22, 2024 | $0.54 | $0.55 | +1.9% | ✓ BEAT |
Q4 2023 | Oct 26, 2023 | $0.47 | $0.48 | +2.1% | ✓ BEAT |
Q3 2023 | Jul 27, 2023 | $0.40 | $0.42 | +5.0% | ✓ BEAT |
Q2 2023 | Apr 27, 2023 | $0.33 | $0.34 | +3.0% | ✓ BEAT |
Q1 2023 | Feb 23, 2023 | $0.51 | $0.50 | -2.0% | ✗ MISS |
Q4 2022 | Oct 27, 2022 | $0.46 | $0.46 | 0.0% | = MET |
Q3 2022 | Jul 28, 2022 | $0.39 | $0.39 | 0.0% | = MET |
Q2 2022 | Apr 28, 2022 | $0.33 | $0.33 | 0.0% | = MET |
Q1 2022 | Feb 24, 2022 | $0.45 | $0.45 | 0.0% | = MET |
Q4 2021 | Oct 28, 2021 | $0.44 | $0.44 | 0.0% | = MET |
Q3 2021 | Jul 29, 2021 | $0.37 | $0.38 | +2.7% | ✓ BEAT |
Latest News
Jefferies Downgrades Keurig Dr Pepper to Hold, Lowers Price Target to $32
📉 NegativePiper Sandler Maintains Overweight on Keurig Dr Pepper, Raises Price Target to $38
📈 PositiveKeurig Dr Pepper Appoints Anthony DiSilvestro CFO, Effective Immediately
➖ NeutralKeurig Dr Pepper Says Court Denies Class Certification In $3B Single-Serve Antitrust Case; Plaintiffs Appeal To Second Circuit
📈 PositiveShares of coffee-related companies are trading higher after Treasury Secretary Bessent said that there will be announcements regarding tariff relief on imported everyday consumer items that include coffee and bananas.
📈 PositiveBarclays Maintains Equal-Weight on Keurig Dr Pepper, Raises Price Target to $30
➖ NeutralWells Fargo Maintains Overweight on Keurig Dr Pepper, Raises Price Target to $35
📈 PositiveKeurig Dr Pepper shares are trading higher after the company raised its FY2025 constant currency net sales growth outlook to the high-single-digit range and maintained adjusted diluted EPS growth in the high-single-digit range.
📈 PositiveKeurig Dr Pepper Updates Financing Package Related To JDE Peet's Acquisition, Including Two Investment Agreements Totaling $7B Co-Led By Apollo And KKR Affiliates
📈 PositiveKeurig Dr Pepper Raises FY2025 Constant Currency Net Sales Growth Outlook To High-Single-Digit Range And Maintains Adjusted Diluted EPS Growth In High-Single-Digit Range
📈 PositiveKeurig Dr Pepper Q3 Adj. EPS $0.54, Inline, Sales $4.306B Beat $4.151B Estimate
📈 PositiveJP Morgan Maintains Overweight on Keurig Dr Pepper, Lowers Price Target to $36
➖ NeutralKeurig Dr Pepper gains after report of activist Starboard stake
📈 PositiveKeurig Dr Pepper shares are trading higher after the Financial Times reported that Starboard has built a stake in the company.
📈 Positive'Starboard builds stake in Keurig Dr Pepper after unpopular Peet's deal'- Financial Times
📈 PositiveB of A Securities Maintains Buy on Keurig Dr Pepper, Lowers Price Target to $33
➖ NeutralGoldman Sachs Maintains Neutral on Keurig Dr Pepper, Lowers Price Target to $29
➖ NeutralWells Fargo Maintains Overweight on Keurig Dr Pepper, Lowers Price Target to $33
➖ NeutralBarclays Downgrades Keurig Dr Pepper to Equal-Weight, Lowers Price Target to $26
📉 NegativeKeurig Dr Pepper shares are trading lower after BNP Paribas downgraded the stock to Underperform from Neutral.
📉 NegativeFrequently Asked Questions about KDP
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