Filing Flows › Keurig Dr Pepper (KDP) › Q3 2026
Keurig Dr Pepper (KDP) Q3 2026 earnings results (third quarter 2026)
8-K filed Nov 3, 2026
Keurig Dr Pepper (KDP) reported revenue of $7.3B for the third quarter 2026 (Q3 2026), +71% from a year earlier and +0.5% from the quarter before. Operating margin was 18.2%, net earnings $882M (12.0% of revenue).
Keurig Dr Pepper, Q3 2026: revenue $7.3B (+71% year over year), operating margin 18.2%, net earnings $882M, operating cash flow $1.0B. The chart follows the revenue to costs, profit and cash.
| Q3 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $7.3B | +0.5% | +71% |
| Gross profit | $3.5B | +15% | +51% |
| Operating profit | $1.3B | +112% | +34% |
| Net earnings | $882M | +521% | +33% |
| Operating cash flow | $1.0B | +17% | +63% |
| Free cash flow | $884M | +24% | +68% |
What changed
Revenue was $7.3B in Q3 2026, up 71% year over year and roughly flat from the previous quarter. U.S. Refreshment Beverages was the largest line at 41% of revenue. U.S. Refreshment Beverages added $0.30B year over year (up 11%), 10% of the total change.
Gross margin was 48.0%, down 6.3 points from Q3 2025. Operating profit was $1.3B, a 18.2% margin (down 5.0 points year over year). Of the extra revenue versus Q3 2025, 11% reached operating profit, below the 23% margin then. Operating expenses grew 63% against revenue growth of 71%. Net earnings were $0.88B, up 33% year over year. The effective tax rate was 21.5%.
Operating cash flow was $1.0B (up 63% year over year), 110% of net income including minority interests. Non-cash charges added back $0.20B of depreciation. Working capital and other items used $0.11B. Capital expenditures of $0.16B left free cash flow of $0.88B.
Questions
What was Keurig Dr Pepper's revenue in the third quarter 2026?
Keurig Dr Pepper (KDP) reported revenue of $7.3B for the third quarter 2026 (Q3 2026), +71% from a year earlier and +0.5% from the quarter before.
Was Keurig Dr Pepper profitable in the third quarter 2026?
Operating profit was $1.3B (18.2% of revenue) and net earnings $882M.
Source: Keurig Dr Pepper 8-K on SEC EDGAR.