Keurig Dr Pepper said gross profit for Q3 2025 increased 9.3% to $2,340 million, income from operations increased 10.3% to $995 million, and net income increased 7.5% to $662 million. Diluted earnings per share were $0.49.

1. 01

   Keurig Dr Pepper said gross profit for Q3 2025 increased 9.3% to $2,340 million, income from operations increased 10.3% to $995 million, and net income increased 7.5% to $662 million. Diluted earnings per share were $0.49.

2. 02

   The company said U.S. Refreshment Beverages net sales for Q3 increased 14.4% to $2,735 million. It said volume and mix growth included the benefit of the GHOST acquisition, and income from operations increased 11.1% to $802 million.

3. 03

   Keurig Dr Pepper entered into the JDE Peet's Acquisition Agreement on August 24, 2025 and announced on August 25 its intention to separate its beverage and coffee portfolios into two independent, publicly traded companies following the close of the acquisition. The 364-day bridge loan facility has a maximum amount of €16.2 billion and remains fully undrawn as of September 30.

4. 04

   The company said net cash provided by operating activities for the first 9 months of 2025 decreased $91 million compared to the prior year period, there were no repurchases of common stock during the period, and $1,810 million remained available for repurchase under the authorized share repurchase program as of September 30. Moody's placed the company's credit ratings under review for downgrade, and S&P placed it on CreditWatch Negative.

Key figures

Quarter ended September 30, 2025

Revenue

$4.3B

Operating income

$995M

Net income

$662M

EPS

$0.49

Gross profit

$2.3B

Analysis scope · Management's discussion (MD&A)We analyzed the Management's Discussion and Analysis (MD&A) section. Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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