Keurig Dr Pepper (KDP) Q4 2025 Earnings Transcript

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Tuesday, Feb. 24, 2026 astatine 8 a.m. ET

• Chief Executive Officer — Tim Cofer

• Chief Financial Officer — Anthony DiSilvestro

Tim Cofer: Thanks, Chethan Mallela, and bully morning, everyone. 2025 was a beardown twelvemonth for Keurig Dr Pepper Inc.. We delivered steadfast results that achieved our yearly guidance. We drove winning innovation and commercialized performance, generating the fastest US retail income maturation among apical nutrient and beverage manufacturers. With marketplace stock gains crossed our portfolio. And we laid the groundwork done the announced acquisition for Keurig Dr Pepper Inc.'s transformational adjacent section of JDE Peet's and planned separation into 2 starring axenic play companies, Beverage Co and Global Coffee Co. Said differently, we navigated a dynamic operating situation with agility portion strengthening our foundation. For the agelong term.

And the aforesaid tin beryllium said for JDE Peet's, which earlier this greeting issued 2025 results that demonstrated coagulated fiscal show and beardown progress. Advancing its refreshed strategy.

In 2026, we volition physique upon our momentum with a absorption connected 3 objectives that should construe to shareholder worth creation. First, delivering our debased treble digit afloat twelvemonth EPS maturation guidance successful a precocious prime way. Second, closing and seamlessly integrating JDE Peet's And ultimately, establishing 2 advantaged basal unsocial businesses positioned for success. At our caller Investor Day, we outlined our milestone based attack to executing our translation enactment streams. Let maine stock updates. On a fewer of these milestones.

Starting with the JDE Peet's acquisition we person secured cardinal regulatory approvals and launched the tender offer. Positioning america to adjacent the acquisition successful aboriginal April. We've already made important advancement connected integration planning, including aggregate progressive enactment streams spearheaded by leaders from some companies and susceptible advisers with heavy and applicable experience. Our teams are collaborating good to found associated ways of moving and a unified operating philosophy, each portion exhibiting strategical alignment, shared purpose, and a palpable excitement to physique a planetary java leader.

At the aforesaid time, we're taking steps to guarantee operational readiness to abstracted by the end. Of 2026. We're acceptable to instrumentality a combined Keurig Dr Pepper Inc. operating operation for the interim play betwixt woody adjacent and separation, which volition facilitate adjacent word show portion supporting a dependable modulation towards our aboriginal authorities arsenic basal alones. We're besides advancing enactment streams to present against cardinal separation milestones including capturing archetypal woody related synergies, appointing autarkic enactment teams and boards, and establishing due superior structures for the 2 axenic play companies. Our precise separation timing volition beryllium connected a fig of considerations, including marketplace conditions, but we are progressing well. Against each elements wrong our control.