KEURIG DR PEPPER $KDP Q2’26 EARNINGS HIGHLIGHTS 🔹 Revenue: $7.3B (Est. $7.24B) 🟢; +75.6% YoY 🔹 Adj. EPS: $0.57 (Est. $0.54) 🟢; +16% YoY 🔹 Adj Oper Income: $1.5B (Est. $1.4B) 🟢; +42.9% YoY 🔹 Free Cash Flow: $714M (Est. $580M) 🟢 Affirms FY26 Guide: 🔹 Revenue: $25.9B-$26.4B 🔹 Adj. EPS Growth: Low-double-digit range 🔹 Legacy Net Sales Growth: +4%-+6% constant currency 🔹 Legacy Adj. EPS Growth: +4%-+6% constant currency 🔹 Management Leverage Ratio: ~4.1x Segment Net Revenue: 🔹 U.S. Refreshment Beverages: $2.9B; +10% YoY 🔹 U.S. Coffee: $918M; -3.2% YoY 🔹 JDE Peet's: $2.8B 🔹 KDP International: $664M; +19.6% YoY Other Q2 Metrics: 🔹 Constant Currency Net Sales Growth: +74.6% 🔹 Legacy KDP Net Sales Growth: +7.3% 🔹 Adjusted Operating Margin: 20.2%; -450 bps YoY 🔹 Operating Cash Flow: $895M Comments: 🔸 “Q2 EPS exceeding our expectations.” 🔸 “U.S. Refreshment Beverages generated double-digit top- and bottom-line growth”