The parent company of Pea Pi Coffee released its first complete consolidated quarterly results: Keurig Dr Pepper (KDP.US) Q3 earnings report exceeded expectations, and the coffee business spin-off entered the countdown

Zhitong Finance App learned that before the US stock market on November 3, beverage giant Keurig Dr Pepper (KDP.US) announced results for the third quarter of 2026. According to financial reports, net sales for the quarter were US$7.34 billion, up 70.6% year over year, mainly driven by the completion of the acquisition of JDE Peet's, the parent company of Peet's in April, which is basically in line with market expectations of about US$7.33 billion; GAAP diluted earnings per share of $0.59, up 20.4% year over year, higher than expected of about $0.57; adjusted earnings per share of $0.66, up 22.2% year over year.

After excluding JDE Peet's contribution, traditional business net sales increased 8.6%, with sales volume and portfolio contributing 6.5 percentage points. Free cash flow for the quarter was $1.01 billion.

By business, the US soft drink division continued its double-digit growth trend, with net sales rising 10.9% to US$3 billion; the US coffee division's net sales increased 2.7% to US$1 billion, and sales increased 6.9% but net prices fell 4.2%. The US$99 million tariff rebate supported profits during the quarter; and the JDE Peet's division contributed 2.65 billion US dollars in net sales.

The company reaffirms its guidance for the full year of 2026, and expects net sales of $25.9 billion to $26.4 billion, and low double-digit growth in earnings per share after constant exchange rate adjustments. CEO Tim Coffer said the company is on track to deliver on its 2026 financial commitments and is focused on reaching the remaining milestones of the split.

After the company previously announced the acquisition of JDE Peet's for about $18 billion, it plans to split the beverage and coffee business into two independent listed companies in early 2027; former Kimberly (KMB.US) president Russ Torres officially joined the company today to integrate the leading coffee business and become CEO of the new company after the spin-off.

The acquisition raised the company's long-term debt to around $21.6 billion, and debt cancellation and execution of the spin-off remain the focus of market attention.