Achieved 2025 guidance with nearly 9% net sales growth, driven by a 5-point base business increase and a 4-point contribution from the Ghost acquisition. US Refreshment Beverages served as the primary growth engine, delivering double-digit sales growth through Dr Pepper innovation and the successful transition of Ghost to the DSD network. US Coffee performance was impacted by cyclical cost pressures and retailer inventory adjustments, though the pod category remained resilient with mid-single-digit re ...

At the same time, we're taking steps to ensure operational readiness to separate by the end. Of 2026. We're ready to implement a combined Keurig Dr Pepper Inc. operating structure for the interim period between deal close and separation, which will facilitate near term performance while supporting a steady transition towards our future state as stand alones. We're also advancing work streams to deliver against key separation milestones including capturing initial deal related synergies, appointing independe ...

Keurig Dr Pepper (NasdaqGS:KDP) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Company ParticipantsAnthony DiSilvestro - CFOChethan Mallela - Senior Director of Investor RelationsFilippo Falorni - Director of Equity ResearchPeter Galbo - Managing Director and Head of US Consumer Staples Equity ResearchTim Cofer - CEOConference Call ParticipantsChris Carey - Senior Equity Analyst and Head of Consumer Staples ResearchLauren Lieberman - Managing Director and Equity Research AnalystPeter Grom - Equity Rese ...

Keurig Dr Pepper (NasdaqGS:KDP) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Company ParticipantsAnthony DiSilvestro - CFOChethan Mallela - Senior VP of Finance and Investor RelationsPeter Galbo - Managing Director and Head of U.S. Consumer Staples Equity ResearchTimothy Cofer - CEO and Board of DirectorsConference Call ParticipantsChristopher Carey - Head of Consumer Staples Research and Senior Equity AnalystFilippo Falorni - Director of Equity Research and Lead Beverages and HPC AnalystLauren Liebe ...

Keurig Dr Pepper (NasdaqGS:KDP) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Company ParticipantsAnthony DiSilvestro - CFOChethan Mallela - Senior VP of Finance and Investor RelationsPeter Galbo - Managing Director and Head of U.S. Consumer Staples Equity ResearchTimothy Cofer - CEO and Board of DirectorsConference Call ParticipantsChristopher Carey - Head of Consumer Staples Research and Senior Equity AnalystFilippo Falorni - Director of Equity Research and Lead Beverages and HPC AnalystLauren Liebe ...

Keurig Dr Pepper (NasdaqGS:KDP) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Company ParticipantsAnthony DiSilvestro - CFOChethan Mallela - Senior Director of Investor RelationsFilippo Falorni - Director of Equity ResearchPeter Galbo - Managing Director and Head of US Consumer Staples Equity ResearchTim Cofer - CEOConference Call ParticipantsChris Carey - Senior Equity Analyst and Head of Consumer Staples ResearchLauren Lieberman - Managing Director and Equity Research AnalystPeter Grom - Equity Rese ...

Keurig Dr Pepper (NasdaqGS:KDP) Q4 2025 Earnings call February 24, 2026 08:00 AM ET Speaker9For more information, please refer to our earnings release and the risk factors discussed in our most recent Form 10-K, which we filed with the SEC later today. Consistent with previous quarters, we will be discussing our Q4 and full year performance on a non-GAAP adjusted basis, which reflects constant currency growth rates and excludes items affecting comparability. Definitions and reconciliations to the most direc ...

Q4 and FY 2025 Results February 24, 2026 1 Forward looking statements Certain statements in this Presentation (this "Presentation") of Keurig Dr Pepper Inc. (the "Company" or "KDP"), including statements relating to the Company's contemplated acquisition (the "Acquisition") of JDE Peet's, N.V. ("JDE Peet's"), the structured manufacturing JV with Apollo Management Holdings, L.P. (together with its affiliates, "Apollo") as the lead investor, in partnership with Kohlberg Kravis Roberts & Co., L.P. (together wi ...

Core Viewpoint - Keurig Dr Pepper (KDP) is enhancing its Board of Directors by appointing two independent directors and restructuring its governance committees to support its transformation and upcoming separation into two independent companies, "Beverage Co." and "Global Coffee Co." [1] Group 1: Board Changes - Effective March 2, 2026, Amie Thuener and William "Bill" Newlands will join KDP's Board as independent directors [1] - The existing Remuneration & Nominating Committee will be split into two new committees: Nominating & Governance and Compensation Committees [1] Group 2: Directors' Backgrounds - Amie Thuener has 30 years of finance and accounting experience, currently serving as Vice President, Corporate Controller, and Chief Accounting Officer at Alphabet [1] - Bill Newlands brings over 40 years of experience in the beverage alcohol and consumer packaged goods industries, having served as President and CEO of Constellation Brands for over seven years [1] Group 3: Company Overview - KDP is a leading beverage company in North America with annual revenue exceeding $15 billion and a portfolio of over 125 brands [1] - The company holds leadership positions in various beverage categories, including carbonated soft drinks, coffee, tea, and water, and is known for its single-serve coffee brewing systems [1]

Core Viewpoint - Kraft Heinz is planning to split into two separately traded companies, reversing its 2015 merger, amid a broader trend in the food industry where companies are divesting underperforming brands due to changing consumer preferences and regulatory pressures [1][2][18]. Industry Trends - The consumer products industry is experiencing a significant shift, with nearly half of M&A activity in 2024 coming from divestitures, as companies like Unilever and Keurig Dr Pepper also pursue similar strategies [3][2]. - The trend of breaking up is not limited to consumer packaged goods; industrial companies and legacy media firms are also undergoing similar transformations [4]. Market Dynamics - There is increasing pressure on packaged food and beverage companies due to lower demand and shrinking sales volumes, prompting them to divest underperforming brands to regain investor confidence [5][11]. - Consumers are shifting their purchasing habits towards fresh produce and protein, leading to declining sales for traditional grocery items [7]. Regulatory Environment - Regulatory scrutiny on processed foods is intensifying, influenced by health initiatives and the rise of medications that reduce appetite for sugary and salty snacks [8]. Competitive Landscape - Major consumer packaged goods companies are losing market share to upstart brands and private-label products, with only about 35% of their portfolios in high-growth categories compared to over half for private-label brands [9][10]. Financial Performance - Kraft Heinz has seen a 73% decline in its stock price since its merger, attributed to aggressive cost-cutting measures that neglected brand investment [19]. - The merger of Keurig Green Mountain and Dr Pepper Snapple Group in 2018 is cited as an example of a poorly conceived deal, leading to a significant rise in shares but still underperforming compared to the S&P 500 [15][14]. Strategic Moves - Kraft Heinz has appointed Steve Cahillane, former CEO of Kellogg, to lead the new entity focused on high-growth brands post-split [23]. - The divestiture trend is expected to continue, with companies like General Mills and Nestle also announcing sales of non-core brands to concentrate on their main offerings [25]. Acquisition Landscape - Smaller acquisitions are becoming more common, with deals under $2 billion representing a growing share of consumer products transactions, as larger deals face regulatory hurdles [26][27].