Filing Flows › Keurig Dr Pepper (KDP) › Q2 2026 › vs Q1 2026
Keurig Dr Pepper (KDP) Q2 2026 vs Q1 2026 (quarter over quarter)
Keurig Dr Pepper's revenue rose $3.3B (+84%) from $4.0B in Q1 2026 to $7.3B in Q2 2026. Gross margin 41.9% against 52.8% (-10.8 pts).
Keurig Dr Pepper, Q2 2026: revenue $7.3B (+76% year over year), operating margin 8.6%, net earnings $142M, operating cash flow $895M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 41.9% | 52.8% | -10.8 pts |
| Operating margin | 8.6% | 19.0% | -10.4 pts |
| Net margin | 1.9% | 6.8% | -4.8 pts |
| Free cash flow margin | 9.8% | 4.1% | +5.6 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $7.3B | $4.0B | $3.3B | +84% |
| Gross profit | $3.1B | $2.1B | $968M | +46% |
| Cost of revenue | $4.2B | $1.9B | $2.4B | +126% |
| Operating profit | $628M | $756M | −$128M | -17% |
| Operating expenses | $2.4B | $1.3B | $1.1B | +82% |
| Pre-tax earnings | $305M | $357M | −$52.0M | -15% |
| Other expense, net | $323M | $399M | −$76.0M | -19% |
| Net earnings | $142M | $270M | −$128M | -47% |
| Minority interests | $68.0M | $0 | $68.0M | — |
| Income tax | $95.0M | $87.0M | $8.0M | +9% |
| Depreciation & amortization | $332M | $151M | $181M | +120% |
| Share-based compensation | $32.0M | $30.0M | $2.0M | +7% |
| Working capital & other | $389M | −$170M | $559M | — |
| Operating cash flow | $895M | $281M | $614M | +219% |
| Free cash flow (OCF − capex) | $714M | $165M | $549M | +333% |
| Capital expenditures | $181M | $116M | $65.0M | +56% |
Questions
How much did Keurig Dr Pepper's revenue grow quarter over quarter in Q2 2026?
Keurig Dr Pepper's revenue rose $3.3B (+84%) from $4.0B in Q1 2026 to $7.3B in Q2 2026. Gross margin 41.9% against 52.8% (-10.8 pts).