Filing Flows › Keurig Dr Pepper (KDP) › Q2 2026
Keurig Dr Pepper (KDP) Q2 2026 earnings results (second quarter 2026)
10-Q filed Aug 10, 2026
Keurig Dr Pepper (KDP) reported revenue of $7.3B for the second quarter 2026 (Q2 2026), +76% from a year earlier and +84% from the quarter before. Operating margin was 8.6%, net earnings $142M (1.9% of revenue).
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 follows the revenue to costs, profit and cash.
| Q2 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.3B | +84% | +76% |
| Gross profit | $3.1B | +46% | +36% |
| Operating profit | $628M | -17% | -30% |
| Net earnings | $142M | -47% | -74% |
| Operating cash flow | $895M | +219% | +108% |
| Free cash flow | $714M | +333% | +120% |
What changed
Revenue was $7.3B in Q2 2026, up 76% year over year and up 84% from the previous quarter. K-cup pods was the largest line at 48% of revenue. K-cup pods added $2.6B year over year (up 266%), 81% of the total change.
Gross margin was 41.9%, down 12.2 points from Q2 2025. Operating profit was $0.63B, a 8.6% margin (down 13.0 points year over year). Operating profit fell $0.27B even though revenue rose $3.1B versus Q2 2025, so costs grew faster than sales. Operating expenses grew 80% against revenue growth of 76%. Net earnings were $0.14B, down 74% year over year. The effective tax rate was 31.1%.
Operating cash flow was $0.90B (up 108% year over year), 426% of net income including minority interests. Non-cash charges added back $0.33B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.32B. Capital expenditures of $0.18B left free cash flow of $0.71B.
Questions
What was Keurig Dr Pepper's revenue in the second quarter 2026?
Keurig Dr Pepper (KDP) reported revenue of $7.3B for the second quarter 2026 (Q2 2026), +76% from a year earlier and +84% from the quarter before.
Was Keurig Dr Pepper profitable in the second quarter 2026?
Operating profit was $628M (8.6% of revenue) and net earnings $142M.
Source: Keurig Dr Pepper 10-Q on SEC EDGAR.