On its third-quarter 2026 earnings call, held on Nov. 3, 2026, Keurig Dr Pepper (NASDAQ:KDP) reaffirmed its full-year guidance for low-double-digit growth in adjusted earnings per share, a profit measure that excludes one-time items. It also trimmed its earnings outlook for the legacy business, excluding the recently acquired JDE Peet's. The beverage maker is balancing softness in single-serve coffee against expansion in energy drinks while preparing to split into two separate public companies in early 2027. Three key takeaways from management explain how these shifts affect the long-term outlook. Energy drinks lead broad refreshment beverage growth. The company expanded its energy drink market share past 10% by leaning on share gains from Ghost, Bloom, and C4. Acquiring Ghost gave the business a high-velocity brand that reached a $1 billion annual retail sales pace this quarter.
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