Keurig Dr Pepper (KDP) Q3 2025 10-Q Quarterly Report
Keurig Dr Pepper (KDP) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Oct 28, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Keurig Dr Pepper Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Operating cash flow down $91M for first nine months 2025 vs 2024, driven by lower net income adjusted for non-cash items
- • Capital expenditures $338M for first nine months 2025 vs $398M YoY, including $151M in payables for manufacturing investments
- • Dividends declared $0.69 per share in first nine months 2025 up from $0.66 per share in 2024
- • No common stock repurchases in first nine months 2025; $1.81B remaining authorized under $4B program
- • Credit rating outlooks negative/under review due to JDE Peet's Acquisition and Bridge Credit Agreement impacts
Risk Factors
- • Newly added acquisition risk: Completion of JDE Peet's Acquisition expected H1 2026 depends on minimum 95% tender, regulatory approvals, and closing conditions
- • Most materially updated financial risk: Incurrence of significant debt for JDE Peet's Acquisition may lower credit ratings, affect borrowing costs, liquidity, and financial flexibility
- • Impactful regulatory/legal risk: Potential securities lawsuits and government inquiries related to JDE Peet's Acquisition could cause substantial costs and delay completion
- • Operational/market risk: Integration challenges of JDE Peet's, including cultural, operational, and retention issues, may increase costs and disrupt growth
- • Financial risk: JV Investment of $4B for Pod Manufacturing JV introduces governance restrictions, reduces cash flow from distributions, and may dilute common shareholders
Keurig Dr Pepper Q3 2025 Quarterly FinancialsXBRL
Revenue
$4.3B
▲ +10.7% YoY▲ +3.4% QoQ
Net Income
$662M
▲ +7.5% YoY▲ +21.0% QoQ
Gross Margin
54.3%
▼ -66bp YoY▲ +18bp QoQ
Operating Margin
23.1%
▼ -7bp YoY▲ +154bp QoQ
Net Margin
15.4%
▼ -46bp YoY▲ +223bp QoQ
ROE
2.6%
Total Assets
$54.6B
EPS (Diluted)
$0.49
▲ +6.5% YoY▲ +22.5% QoQ
Operating Cash Flow
$639M
▲ +1.8% YoY▲ +48.3% QoQ
Source: XBRL data from Keurig Dr Pepper Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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