Filing Flows › Keurig Dr Pepper (KDP) › Q2 2026 › vs Q2 2025
Keurig Dr Pepper (KDP) Q2 2026 vs Q2 2025 (year over year)
Keurig Dr Pepper's revenue rose $3.1B (+76%) from $4.2B in Q2 2025 to $7.3B in Q2 2026. The biggest changes: K-cup pods +$2.6B (+266%); LRB +$384M (+13%); Other +$190M (+216%). Gross margin 41.9% against 54.2% (-12.2 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 41.9% | 54.2% | -12.2 pts |
| Operating margin | 8.6% | 21.6% | -13.0 pts |
| Net margin | 1.9% | 13.1% | -11.2 pts |
| Free cash flow margin | 9.8% | 7.8% | +2.0 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| K-cup pods | $3.5B | $963M | $2.6B | +266% |
| LRB | $3.4B | $3.0B | $384M | +13% |
| Other | $278M | $88.0M | $190M | +216% |
| Appliances | $148M | $134M | $14.0M | +10% |
| Revenue | $7.3B | $4.2B | $3.1B | +76% |
| Gross profit | $3.1B | $2.3B | $811M | +36% |
| Cost of revenue | $4.2B | $1.9B | $2.3B | +122% |
| Operating profit | $628M | $898M | −$270M | -30% |
| Operating expenses | $2.4B | $1.4B | $1.1B | +80% |
| Pre-tax earnings | $305M | $718M | −$413M | -58% |
| Other expense, net | $323M | $180M | $143M | +79% |
| Net earnings | $142M | $547M | −$405M | -74% |
| Minority interests | $68.0M | $0 | $68.0M | — |
| Income tax | $95.0M | $171M | −$76.0M | -44% |
| Depreciation & amortization | $332M | $145M | $187M | +129% |
| Share-based compensation | $32.0M | $23.0M | $9.0M | +39% |
| Working capital & other | $389M | −$284M | $673M | — |
| Operating cash flow | $895M | $431M | $464M | +108% |
| Free cash flow (OCF − capex) | $714M | $325M | $389M | +120% |
| Capital expenditures | $181M | $106M | $75.0M | +71% |
Questions
How much did Keurig Dr Pepper's revenue grow year over year in Q2 2026?
Keurig Dr Pepper's revenue rose $3.1B (+76%) from $4.2B in Q2 2025 to $7.3B in Q2 2026.
What drove Keurig Dr Pepper's revenue change in Q2 2026?
K-cup pods +$2.6B (+266%); LRB +$384M (+13%); Other +$190M (+216%).