KDP 8-K Current Reports

Keurig Dr Pepper 8-K Report, Financial Results (Nov 3, 2026)

Keurig Dr Pepper 8-K Report, Corporate Update (Oct 1, 2026)

Keurig Dr Pepper Inc. (NASDAQ: KDP) filed a Form 8-K on October 1, 2026, under Item 8.01 (Other Events) to announce the appointment of Russ Torres as Chief Executive Officer of the Company's Coffee Operating Unit and future Chief Executive Officer of Global Coffee Co., the standalone entity expected to result from the previously announced separation of the Company's coffee and beverage businesses. The appointment is effective November 3, 2026. Torres most recently served as President and Chief Operating Officer of Kimberly-Clark Corporation, and will report to KDP CEO Tim Cofer, who will become CEO of Beverage Co. following separation. Torres will also join the future Global Coffee Co. Board of Directors upon the planned separation, which is targeted for early 2027. The filing's press release states that Global Coffee Co. will generate approximately $16 billion in annual revenue, employ more than 25,000 people, and serve consumers in over 100 markets, with brands including Keurig, Jacobs, Peet's, L'OR, and Green Mountain Coffee Roasters. Pamela Patsley, KDP Board Chairman, will serve as Chairman of the future Global Coffee Co. Board. In his role before separation, Torres will lead the integration of KDP's and JDE Peet's coffee operations. Cofer stated that the base business is healthy and that integration and deleveraging work is on plan. For investors, the key takeaways are the leadership structure for the planned coffee separation and the ongoing integration of JDE Peet's. The filing's forward-looking statements flag risks including completion of the separation within the anticipated timeframe, retention of key executives, debt incurred for the JDE Peet's acquisition, potential credit rating downgrades, and integration challenges.

Keurig Dr Pepper 8-K Report, Corporate Update (Sep 28, 2026)

On September 28, 2026, Keurig Dr Pepper Inc. (KDP) disclosed in an Item 8.01 (Other Events) report that its wholly-owned subsidiaries DPS Holdings Inc. and Mott's LLP, along with certain other affiliates, completed previously announced transactions with FHU US Holdings, LLC and certain of its affiliates (collectively, "Chobani"). The transactions had two components. First, Chobani redeemed all of the Company's indirect equity interests in Chobani for aggregate consideration of $800 million, consisting of $400 million in cash and a $400 million promissory note issued by Chobani to a Company subsidiary, which matures on December 26, 2026. Second, the Company sold certain assets, including its leasehold interests in two facilities in Allentown, Pennsylvania, for $125 million in cash. For investors, the filing establishes total cash proceeds of $525 million at closing, with a further $400 million due in the form of a note maturing in December 2026. The filing does not describe the accounting impact or the effect on KDP's financial results.

Keurig Dr Pepper 8-K Report, Corporate Update (Sep 16, 2026)

Keurig Dr Pepper Inc. (Nasdaq: KDP) filed this Current Report on Form 8-K under Item 8.01 (Other Events) to disclose that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share on the Company's common stock. The announcement was made in a press release dated September 16, 2026, which is furnished as Exhibit 99.1. The dividend is payable on October 9, 2026, to shareholders of record as of September 28, 2026. The filing contains no financial results, guidance, or other operational or financial metrics beyond the dividend declaration itself. For investors, the key takeaway is the routine declaration of a regular quarterly dividend, with the record and payment dates clearly set out. The filing does not indicate any change to the dividend amount or policy beyond this declaration.

Keurig Dr Pepper 8-K Report, Corporate Update (Sep 1, 2026)

On September 1, 2026, Keurig Dr Pepper Inc. (KDP) disclosed that, under definitive agreements dated August 28, 2026, its subsidiary Mott's LLP and affiliates will redeem all of the company's indirect equity interests in Chobani for aggregate consideration of $800 million, consisting of $400 million in cash at closing and a $400 million promissory note issued by Chobani to a company subsidiary that matures on December 26, 2026. The filing also covers the sale of certain assets, including leasehold interests in two Allentown, Pennsylvania facilities, for $125 million. The company's press release (Exhibit 99.1) describes total pre-tax proceeds of $925 million and states that net proceeds will be used to reduce debt as KDP positions its two future businesses, Beverage Co. and Global Coffee Co. The transactions are expected to close in the third quarter of 2026, subject to customary closing conditions. Chobani will also take over the Allentown manufacturing and warehouse operations, offering employment to the site's manufacturing and warehouse employees, and will continue manufacturing certain products for KDP there under a co-manufacturing agreement for a defined period. Delivery, customer service and other corporate employees remain with KDP. The relationship is also being expanded commercially. KDP will continue to distribute La Colombe's ready-to-drink lattes and other Chobani-owned beverages through its direct store delivery network, including future RTD innovations, and the companies will continue their La Colombe-branded K-Cup pod licensing, manufacturing and distribution agreement in the U.S. and Canada. The forward-looking statements flag risks including closing timing, realization of expected proceeds and deleveraging, co-manufacturing transition, and potential litigation.

Keurig Dr Pepper 8-K Report, Executive Changes (Aug 12, 2026)

Keurig Dr Pepper Inc. (KDP) reported in this Form 8-K, filed August 12, 2026, that its Board of Directors appointed Aaron Alt as an independent director and increased the size of the Board to ten directors. Both changes take effect August 14, 2026. The filing states that Mr. Alt will also join the Audit and Finance Committee on the same date. The filing states that there are no arrangements or understandings between Mr. Alt and any other persons under which he was appointed, and that he is not a party to any transaction with the Company reportable under Item 404(a) of Regulation S-K. He will participate in the compensation arrangements for non-employee directors described in the Company's 2026 proxy statement, filed with the SEC on April 24, 2026. The filing is limited to this governance change under Item 5.02 and does not report financial results, guidance, or other operating information. For investors, the main takeaways are a larger Board and a new independent member on the Audit and Finance Committee.

Keurig Dr Pepper 8-K Report, Financial Results (Aug 6, 2026)

Keurig Dr Pepper Inc. (KDP) reported second-quarter 2026 results on August 6, 2026, and reaffirmed its full-year 2026 guidance, as stated in Exhibit 99.1. GAAP net sales rose 75.6% to $7.31 billion in Q2, while legacy KDP net sales (excluding the JDE Peet's contribution) increased 7.3%, driven by favorable net price realization of 4.2% and volume/mix growth of 3.1%. The JDE Peet's acquisition, which closed April 1, drove most of the growth. GAAP diluted EPS was $0.04 versus $0.40 a year earlier, primarily due to acquisition and integration-related costs and an inventory step-up, while Adjusted diluted EPS increased 16.3% to $0.57. For 2026, the company expects net sales of $25.9 to $26.4 billion and constant currency Adjusted diluted EPS growth in a low-double-digit range, comprised of 4% to 6% growth for the legacy business plus JDE Peet's contribution. The company expects to end 2026 with a pro-forma management leverage ratio of approximately 4.1x. The filing also reports Q2 operating cash flow of $895 million and free cash flow of $714 million, and it notes that the balance sheet at June 30, 2026 reflects $4.5 billion of convertible preferred stock and $4.2 billion of non-controlling interests. Management stated that it remains on track for its 2026 commitments and is preparing for a separation of its beverage and coffee portfolios in early 2027. Investors should weigh the strong top-line growth from the acquisition against significantly higher leverage, elevated integration and separation costs, and the GAAP earnings decline.

Keurig Dr Pepper 8-K Report, Executive Changes (Jun 25, 2026)

Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K on June 25, 2026, under Item 5.02 (Departure of Directors or Certain Officers; Compensatory Arrangements of Certain Officers). The filing discloses that Angela Stephens, Senior Vice President, Controller and Principal Accounting Officer, informed the Company on June 22, 2026 of her intention to retire. She had served the Company for nearly 18 years as Controller. The filing states that Ms. Stephens's retirement will take effect following the completion of the previously announced separation of the Company's coffee and beverage businesses. It also states that she will work closely with leadership to establish the controller functions for each of the two new independent publicly traded companies that will result from the separation, with the stated aim of supporting a successful separation and transition. For investors, the key takeaway is a leadership transition in the finance and accounting function tied to the planned separation. The filing does not disclose a successor, compensation terms, or any other financial figures.

Keurig Dr Pepper 8-K Report, Regulation FD Disclosure (Jun 23, 2026)

On June 23, 2026, Keurig Dr Pepper Inc. (KDP) furnished a press release (Exhibit 99.1) announcing leadership updates as it prepares its planned separation into Beverage Co. and Global Coffee Co., a separation targeted for early 2027. The company reaffirmed its 2026 guidance for net sales of $25.9-$26.4 billion and constant currency Adjusted diluted EPS growth in a low-double-digit range. The key personnel change is the planned departure of Rafa Oliveira, head of the Coffee Operating Unit, at the end of July 2026 to pursue an external Chief Executive Officer opportunity. Tim Cofer, CEO of KDP, will continue to oversee the coffee business alongside the Coffee Operating Unit Leadership Team, and the Board has opened a search for the future CEO of Global Coffee Co., led by Chairman Pamela Patsley. As previously announced, Cofer will serve as CEO of Beverage Co. after the separation, and Patsley will become Chairman of Global Coffee Co. Management stated that its 2026 priorities are delivering full-year guidance, integrating JDE Peet's, and achieving separation milestones. The filing's forward-looking statements flag risks including the completion and timing of the separation, retention of key executives, debt incurred for the JDE Peet's acquisition, and possible credit rating downgrades.

Keurig Dr Pepper 8-K Report, Shareholder Vote Results (Jun 18, 2026)

Keurig Dr Pepper Inc. (KDP) held its Annual Meeting of Stockholders on June 16, 2026, and this Current Report on Form 8-K sets out the results of the four matters submitted to a stockholder vote. Stockholders elected all nine nominated directors to one-year terms: Timothy Cofer, Oray Boston, Brian Driscoll, Juliette Hickman, William Newlands, Pamela Patsley, Debra Sandler, Mike Van de Ven and Lawson Whiting. Patsley received the most votes against any nominee, with 103,197,937 against and 3,389,932 abstentions, compared with 1,193,372,528 for. Stockholders also approved the advisory resolution on executive compensation, with 1,248,935,833 votes for and 50,356,862 against. They ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2026, with 1,322,769,289 votes for and 3,292,484 against. In addition, they approved the Keurig Dr Pepper Inc. Omnibus Stock Incentive Plan of 2026, with 1,277,360,824 votes for and 22,184,524 against. In a separate item, effective immediately after the Annual Meeting, the Board appointed Brian Driscoll to the Compensation Committee and Pamela Patsley to the Audit and Finance Committee. Patsley no longer serves on the Compensation Committee as of the same time. The filing reports no financial results or operating metrics.

Keurig Dr Pepper 8-K/A Report, Exhibit Filing (Jun 11, 2026)

Keurig Dr Pepper Inc. (Nasdaq: KDP) filed this Amendment No. 1 to its Initial Form 8-K (filed April 1, 2026) to add the historical audited financial statements of JDE Peet's N.V. for the years ended December 31, 2025 and 2024 (Exhibit 99.1) and unaudited pro forma condensed combined financial information (Exhibit 99.2) for the acquisition. KDP, through subsidiary Kodiak BidCo B.V., completed its offer for JDE Peet's at €31.85 per share in cash, with a settlement date of April 1, 2026. The pro forma information states that KDP acquired 97.75% of JDE Peet's shares, and that the total aggregate consideration for the shares tendered by March 27, 2026 was approximately €14.86 billion, with 96.22% of shares accepted on that date. The pro forma statements show JDE Peet's 2025 standalone results in EUR as reported: revenue of EUR 9,921 million, operating profit of EUR 757 million and profit for the period of EUR 803 million, with total assets of EUR 24,131 million. The pro forma combined figures (translated to U.S. dollars and converted to U.S. GAAP) show year-ended December 31, 2025 pro forma combined net sales of $27,716 million, income from operations of $3,880 million, interest expense, net of $1,311 million and pro forma net income attributable to KDP of $1,956 million, versus KDP's historical $2,079 million. The filing describes these figures as preliminary and not necessarily indicative of future results, and notes preliminary goodwill of $9,750 million and preliminary intangible assets of $14,760 million. Financing for the transaction, as described in the filing, included €3.0 billion of euro notes and $2.55 billion of USD notes issued March 26, 2026, a $4.5 billion Series A Convertible Perpetual Preferred Stock investment completed March 30, 2026, and a $4 billion sale of a 49% limited partnership interest in Keurig JV, LP, the pod manufacturing joint venture, both completed March 30, 2026.

Keurig Dr Pepper 8-K Report, Corporate Update (May 22, 2026)

Keurig Dr Pepper Inc. (KDP) filed a Current Report on Form 8-K dated May 22, 2026 under Item 8.01 (Other Events) to update investors on its debt financing tied to the acquisition of JDE Peet's N.V. As previously disclosed, on March 26, 2026, its wholly-owned subsidiary Maple Parent Holdings Corp. ("Maple") completed private offerings of €3.0 billion of euro-denominated notes and $2.55 billion of USD-denominated notes, guaranteed by KDP and certain of its subsidiaries. On March 6, 2026, KDP amended its Term Loan Agreement dated December 18, 2025 to add a senior unsecured delayed draw term loan facility of up to €10.35 billion, under which Maple became a co-borrower. The net proceeds of the Maple Notes and the delayed draw borrowings, together with other financing sources, were used to fund the acquisition of all outstanding ordinary shares of JDE Peet's N.V., which was completed on April 1, 2026. On May 21, 2026, JDEP Coffee B.V., as successor to JDE Peet's N.V., agreed to fully and unconditionally guarantee, jointly and severally with KDP and the KDP Guarantors, Maple's obligations under the Maple Notes and the delayed draw facility, as well as KDP's obligations under its existing senior notes and revolving credit facility. These JDEP Coffee guarantees will automatically terminate upon the previously announced separation of the Company's coffee and beverage businesses (the "Separation"), in addition to the events specified in the governing agreements. On the same date, Maple, KDP and the KDP Guarantors agreed to guarantee, jointly and severally with each other, JDEP Coffee's outstanding notes, consisting of €3.45 billion of euro-denominated notes and $1.25 billion of USD-denominated notes, with KDP's guarantees of these notes likewise terminating upon the Separation. The filing is primarily a disclosure of cross-guarantee arrangements among the combined group's debt issuers and guarantors. It does not state any changes to the amounts of the financing or to KDP's financial results, and the guarantee structure is expected to unwind upon the Separation.

Keurig Dr Pepper 8-K Report, Corporate Update (May 20, 2026)

Keurig Dr Pepper Inc. (Nasdaq: KDP) filed this Form 8-K under Item 8.01 (Other Events) to report that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share on its common stock. The dividend is payable in U.S. dollars on July 10, 2026, to shareholders of record on June 26, 2026. The announcement is furnished as Exhibit 99.1, a press release dated May 20, 2026, titled "Keurig Dr Pepper Declares Quarterly Dividend." The filing is routine in nature and contains no financial statements, earnings results, or guidance. Its primary relevance for investors is confirming the continuation of the company's regular quarterly dividend at the $0.23 per share level, along with the key dates needed to determine eligibility: the June 26, 2026 record date and the July 10, 2026 payment date. The press release also provides a company description, noting a portfolio of more than 150 owned, licensed and partner brands across North American refreshment beverages and a global coffee business that includes the Keurig single-serve brewing system. Investor relations and media contacts are listed in the exhibit.

Keurig Dr Pepper 8-K Report, Financial Results (Apr 23, 2026)

Keurig Dr Pepper Inc. (KDP) reported first-quarter 2026 results on April 23, 2026, in a press release furnished as Exhibit 99.1 under Item 2.02. Net sales rose 9.4% to $3.98 billion (8.1% on a constant currency basis), driven by favorable net price realization of 5.5% and volume/mix growth of 2.6%. GAAP net income fell 47.8% to $270 million, or $0.20 per diluted share, largely due to transaction and acquisition-related costs. Adjusted diluted EPS decreased 7.1% to $0.39, and adjusted operating income declined 1.9% to $838 million, or 21.1% of net sales, reflecting inflationary pressures and higher SG&A, including marketing. Segment results were mixed. U.S. Refreshment Beverages net sales grew 11.9% to $2.6 billion with adjusted operating income up 9.8%, while U.S. Coffee net sales fell 2.3% to $857 million and adjusted operating income dropped 21.3%, with volume/mix down 8.2%. International net sales rose 19.5% to $520 million (8.5% constant currency), though adjusted operating income declined 15.1% on a constant currency basis. The company completed its acquisition of JDE Peet's on April 1, 2026, and reaffirmed 2026 guidance: net sales of $25.9-$26.4 billion and constant currency Adjusted diluted EPS growth in a low-double-digit range. Balance sheet changes were significant: total assets rose to $73.1 billion from $55.5 billion at year-end 2025, and long-term obligations increased to $20.9 billion from $13.0 billion. Management leverage ratio was 1.5 as of March 31, 2026, and operating cash flow was $281 million with free cash flow of $184 million.

Keurig Dr Pepper 8-K Report, Material Agreement (Apr 1, 2026)

On March 30, 2026, Keurig Dr Pepper Inc. (KDP) issued and sold 4,500,000 shares of Series A Convertible Perpetual Preferred Stock at $1,000 per share, for an aggregate purchase price of $4.5 billion, to investors including KKR and Apollo-affiliated entities. The net proceeds were used to finance part of the acquisition of JDE Peet's N.V. The company also closed a Pod Manufacturing Joint Venture investment on the same date, in which a JV Investor Partner made a capital contribution of approximately $4 billion to Keurig JV, LP in exchange for a 49% interest in the joint venture, which owns or has access to KDP's assets used to manufacture K-Cup pods and other unbrewed single-serve beverages in the United States and Canada. Proceeds from that contribution also financed part of the JDE Peet's acquisition. The 364-Day Bridge Credit Agreement was terminated on March 30, 2026, after its remaining commitments were reduced to zero. On April 1, 2026, Kodiak BidCo B.V., a wholly-owned subsidiary, settled the tender offer for JDE Peet's shares at €31.85 per share in cash. As of March 27, 2026, 466,712,270 shares, representing 96.22% of the shares, had been tendered, for an aggregate consideration of approximately €14.86 billion. A post-closing acceptance period runs through April 13, 2026. The filing states that KDP plans to separate into two independent, U.S.-listed companies after an interim operating period: Beverage Co., led by Tim Cofer, and Global Coffee Co., led by Rafael Oliveira, who was named CEO of the coffee operating unit. The companies are targeting operational readiness to separate by year-end 2026, though timing depends on leverage levels and market conditions.

Keurig Dr Pepper 8-K Report, Material Agreement (Mar 26, 2026)

On March 26, 2026, Keurig Dr Pepper Inc. (the "Company") disclosed that its wholly-owned subsidiary, Maple Parent Holdings Corp. (the "Issuer"), completed private offerings of €3.0 billion of euro-denominated notes and $2.55 billion of USD-denominated notes. The Company intends to use the net proceeds, together with other financing sources, to fund its announced acquisition of JDE Peet's N.V. (the "JDE Peet's Acquisition") and to pay related fees and expenses. The Notes are subject to a special mandatory redemption if the JDE Peet's Acquisition is not consummated by February 24, 2027. The Euro Notes comprise four tranches totaling €3.0 billion with maturities from 2028 to 2035 and coupons from 3.495% to 4.728%. The USD Notes comprise four tranches totaling $2.55 billion with maturities from 2029 to 2056 and coupons from 4.750% to 6.625%. Interest on the Euro Notes is payable annually and interest on the USD Notes is payable semi-annually, both beginning in 2026 or 2027 as specified. The Notes are unsecured and unsubordinated, are initially guaranteed by the Company and its guarantor subsidiaries, and the guarantees will terminate upon the separation of the Company's coffee and beverage businesses (the "Separation"). Holders may require repurchase at 101% of principal upon a change of control triggering event, and the coupon steps up by 0.25% for each rating downgrade below Baa3 or BBB-, up to a 2.00% maximum increase. The Notes were sold in reliance on Rule 144A and Regulation S and have not been registered under the Securities Act. The Issuer agreed to use commercially reasonable efforts to register exchange notes within 540 days of March 26, 2026, or in certain circumstances file a shelf registration statement. The filing notes that pre-Separation covenants restrict the Company and its majority-owned subsidiaries from secured debt, certain sale-leasebacks, and certain mergers, with these covenants shifting to the Issuer after the Separation.

Keurig Dr Pepper 8-K Report, Corporate Update (Mar 12, 2026)

Keurig Dr Pepper Inc. (KDP) reported in this Form 8-K, dated March 12, 2026, that it priced private offerings of senior notes totaling $2.55 billion in USD Notes and €3.0 billion in Euro Notes. The notes will be issued by Maple Parent Holdings Corp. and are expected to close on March 26, 2026. The Company states it expects to use the net proceeds, together with other financing sources, to fund its previously announced acquisition of JDE Peet's N.V. (the JDE Peet's Acquisition) and to pay related fees and expenses. The USD Notes carry maturities in 2029, 2031, 2036 and 2056, with coupons from 4.750% to 6.625%. The Euro Notes carry maturities in 2028, 2030, 2032 and 2035, with coupons from 3.495% to 4.728%. Guarantees from the Company and its subsidiaries will terminate upon the separation of its coffee and beverage businesses (the Separation), and JDE Peet's is expected to guarantee the notes after the JDE Peet's Acquisition closes. The offerings were made under Rule 144A and Regulation S, and the notes are not registered under the Securities Act. The filing's forward-looking statements flag risks including completing the offerings, the acquisition and the Separation on schedule, the incurrence of significant debt, possible downgrades of the Company's credit ratings, integration difficulties, and additional costs. For investors, the filing shows a substantial increase in the Company's debt load tied to the JDE Peet's Acquisition and the Separation.

Keurig Dr Pepper 8-K Report, Material Agreement (Mar 10, 2026)

On March 6, 2026, Keurig Dr Pepper Inc. (KDP) entered into Amendment No. 1 to its Term Loan Agreement dated December 18, 2025, adding Maple Parent Holdings Corp., a wholly-owned subsidiary, as a joint and several Borrower. Upon completion of the separation of its coffee and beverage businesses (the "Separation"), KDP will be automatically released from the Amended Term Loan Agreement, leaving Maple as sole Borrower. Maple also guarantees KDP's senior notes until the Separation. The amendment extends the maturity of €2.6 billion of the term loan to 15 months from initial funding, while the remaining €7.75 billion keeps a 364-day maturity. Proceeds are intended to fund the JDE Peet's Acquisition and related fees. The filing also furnishes Regulation FD financial information on KDP Coffee Co, the coffee business expected to form part of the planned publicly traded company Global Coffee Co., including audited combined financial statements for fiscal years 2023 through 2025 and unaudited pro forma condensed combined information for KDP and Global Coffee Co. KDP Coffee Co reported 2025 net sales of $4,700 million, income from operations of $875 million, and net income of $700 million, with net cash provided by operating activities of $629 million. Pro forma KDP 2025 net sales are shown at $27,750 million, with pro forma net income attributable to KDP of $1,928 million. The company also disclosed a proposed private offering of senior unsecured notes in U.S. dollars and euros, with the proceeds to fund the JDE Peet's Acquisition. The pro forma information reflects a $4.0 billion JV investment in the Pod Manufacturing JV and a $4.5 billion Convertible Preferred Stock investment, with preliminary goodwill of $10.4 billion from the acquisition. The filing describes the Separation and financing steps, but it does not state the timing of the Separation.

Keurig Dr Pepper 8-K Report, Financial Results (Feb 24, 2026)

On February 24, 2026, Keurig Dr Pepper Inc. (KDP) reported fourth-quarter and full-year 2025 results and provided 2026 guidance. Full-year 2025 net sales rose 8.2% to $16.6 billion (8.6% on a constant currency basis), with volume/mix growth of 4.8% and net price realization of 3.8%. GAAP net income increased 44.3% to $2.1 billion, or $1.53 per diluted share, while Adjusted diluted EPS increased 7.3% to $2.05. Adjusted operating income rose 4.9% to $4.2 billion, and operating cash flow was $1,991 million with free cash flow of $1,519 million, including a $225 million headwind from one-time GHOST distribution termination payments. U.S. Refreshment Beverages was the primary growth driver, with full-year net sales up 11.9% to $10.4 billion and adjusted operating income up 8.8%, reflecting share gains in carbonated soft drinks, energy and sports hydration. U.S. Coffee net sales grew only 0.6% to $4.0 billion, and adjusted operating income declined 4.4%, as volume/mix fell 4.2% and inflation weighed on margins. International net sales rose 5.9% to $2.2 billion, or 9.3% on a constant currency basis. For 2026, KDP expects net sales of $25.9-$26.4 billion and constant currency Adjusted diluted EPS growth in a low-double-digit range. The guidance assumes 4-6% constant currency net sales growth and 4-6% constant currency Adjusted diluted EPS growth for the standalone business, plus an incremental contribution from the JDE Peet's acquisition assuming an early April close. The company also announced that Pamela Patsley will succeed Bob Gamgort as Board Chair at the end of the first quarter of 2026, when Gamgort steps off the Board.

Keurig Dr Pepper 8-K Report, Material Agreement (Feb 23, 2026)

On February 23, 2026, Keurig Dr Pepper Inc. (KDP) entered into a Transaction Agreement to form a Pod Manufacturing joint venture (Keurig JV, LP) with KDP-affiliated entities and an investment vehicle held by funds managed by Apollo Global Management, KKR and Goldman Sachs Asset Management. Under the agreement, KGM Manufacturing LLC merges into the JV, Keurig Canada ULC is contributed, and the investor vehicle contributes $4.0 billion for a 49% limited partnership interest, while KDP retains the remaining 51%. The net proceeds are intended to help fund KDP's previously announced acquisition of JDE Peet's N.V. Closing is expected substantially concurrently with that acquisition and is subject to limited customary conditions, with an outside date of March 3, 2027. Ancillary agreements have KGM operate the JV's assets under performance standards, purchase K-Cups and other single-serve products exclusively from the JV, and receive an exclusive IP license, with KDP providing a parent guaranty. The company also amended its Preferred Investment Agreement to increase the Series A Convertible Perpetual Preferred Stock investment to 4,500,000 shares at $1,000 per share, or $4.5 billion in aggregate, up $1.5 billion from the October 27, 2025 agreement. The accompanying press release (Exhibit 99.1) states the increase is backed by an anchor commitment from accounts advised by T. Rowe Price Investment Management, that the key terms are substantially unchanged (initial conversion price of $37.25 per share and a 4.75% preferred dividend rate), and that the company will no longer consider a partial IPO of the future Beverage Co. The press release also updates the financing plan for the JDE Peet's acquisition: a targeted close in early April 2026, approximately $9 billion of long-term debt and $8.5 billion of equity capital, assumption of about $5 billion of existing JDE Peet's bonds, and projected combined net leverage of 4.5x as of June 30, 2026. Management states the transaction remains forecast to be approximately 10% EPS accretive in its first full year. Separation into Beverage Co. and Global Coffee Co. is contingent on leverage and market conditions, with operational readiness targeted by year-end 2026.

Keurig Dr Pepper 8-K Report, Executive Changes (Feb 12, 2026)

Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K on February 12, 2026, reporting two governance actions rather than financial results. Under Item 5.02, the Board of Directors increased its size to eleven directors and appointed William Newlands and Amie Thuener as independent directors, effective March 2, 2026. Mr. Newlands will join the Nominating and Governance Committee and Ms. Thuener the Audit and Finance Committee, also effective March 2, 2026. The filing states that neither new director has any arrangement or understanding with other persons relating to their appointment, and neither is party to a transaction reportable under Item 404(a) of Regulation S-K. Both will participate in the non-employee director compensation arrangements described in the Company's 2025 proxy statement filed April 25, 2025. Under Item 8.01, the Board also approved dissolving its existing Remuneration and Nominating Committee and creating separate Nominating and Governance and Compensation Committees, effective March 2, 2026. The filing contains no financial figures, so these changes are primarily governance and committee-structure matters for investors to note.

Keurig Dr Pepper 8-K Report, Corporate Update (Feb 4, 2026)

Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K on February 4, 2026, under Item 8.01 (Other Events) to report that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share on its common stock. The dividend is payable in U.S. dollars on April 10, 2026, to shareholders of record on March 27, 2026. The filing is a brief notice with no financial statements, results of operations, or forward-looking guidance. The announcement is documented in Exhibit 99.1, a press release dated February 3, 2026, titled "Keurig Dr Pepper Declares Quarterly Dividend." The press release describes the company as a leading North American beverage company with a portfolio of more than 125 owned, licensed and partner brands and annual revenue of more than $15 billion, and it lists brands including Keurig, Dr Pepper, Canada Dry, Mott's, A&W, Snapple, 7UP, Green Mountain Coffee Roasters and GHOST. For investors, the key takeaway is the declared dividend itself: a $0.23 per share quarterly payout with defined record and payment dates. The filing does not discuss the company's financial performance, dividend history, or payout policy beyond this declaration.

Keurig Dr Pepper 8-K Report, Material Agreement (Dec 19, 2025)

On December 18, 2025, Keurig Dr Pepper Inc. (KDP) entered into a 364-day Term Loan Agreement with the lenders party thereto and Morgan Stanley Senior Funding, Inc. as administrative agent, under which lenders committed, subject to certain conditions, to provide financing in an aggregate amount not to exceed €10.35 billion. Borrowings bear interest at EURIBOR plus a margin of 0.750% to 1.750%, depending on the rating of certain index debt, and undrawn commitments carry a commitment fee of 0.060% to 0.200% per annum beginning December 23, 2025. The proceeds may be used to fund the contemplated acquisition of JDE Peet's, although the company may instead use proceeds from one or more other debt or financings. The agreement includes a minimum interest coverage ratio of 3.25 to 1.00 that applies after the initial funding date, and a maximum total net leverage ratio of 6.25 to 1.00 that applies after the initial funding date only upon a downgrade in the ratings of certain index debt. Commitments will be mandatorily reduced or loans prepaid with net cash proceeds from non-ordinary course asset sales and certain debt and equity issuances, subject to specified exceptions. Obligations are guaranteed by subsidiaries that guarantee the company's revolving credit facility and senior notes. Concurrently, KDP entered into Amendment No. 1 to its Bridge Credit Agreement dated August 24, 2025, which reduced the 364-day senior unsecured bridge loan commitments by €10.35 billion, from €16.2 billion to €5.85 billion. The amendment also modifies commitment reduction and mandatory prepayment provisions so that certain debt proceeds first reduce amounts under the Term Loan Agreement and then the Bridge Credit Agreement.

Keurig Dr Pepper 8-K Report, Corporate Update (Dec 9, 2025)

Keurig Dr Pepper Inc. (Nasdaq: KDP) filed a Current Report on Form 8-K under Item 8.01 (Other Events) to announce that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share on its common stock. The dividend is payable in U.S. dollars on January 16, 2026, to shareholders of record on January 2, 2026. The filing is routine in nature and contains no financial results, guidance, or other operating data. The only substantive information is the dividend amount, payment date, and record date. The announcement itself is furnished as Exhibit 99.1, a press release dated December 9, 2025, titled "Keurig Dr Pepper Declares Quarterly Dividend." For investors, the key takeaways are the $0.23 per-share quarterly cash dividend and the timing: shareholders must be on record as of January 2, 2026 to receive the January 16, 2026 payment. The filing also describes the company as a beverage company in North America with more than 125 owned, licensed and partner brands and annual revenue of more than $15 billion.

Keurig Dr Pepper 8-K Report, Executive Changes (Nov 25, 2025)

On November 25, 2025, Keurig Dr Pepper Inc. (KDP) announced the appointment of Anthony DiSilvestro as Chief Financial Officer, effective the same day. He succeeds Sudhanshu Priyadarshi, who was previously Chief Financial Officer and President, International, and who no longer holds those roles as of that date. Priyadarshi will serve as a senior advisor providing transition services through April 7, 2026. DiSilvestro, 67, previously served as CFO of Mattel, Inc. from June 2020 until May 2025, and as Senior Vice President and CFO of Campbell Soup Company from May 2014 to September 2019. He has served on the Board of FMC Corporation since December 2024. Under a letter agreement dated November 21, 2025, he will receive an annual base salary of $1,000,000, a target annual bonus of 100% of base salary, and, in lieu of the annual long-term equity incentive program, a one-time restricted stock unit grant with a grant date value of $8,000,000 vesting 67% on the second anniversary and 33% on the third anniversary of grant. In connection with his departure, Priyadarshi and the Company entered into a Transition, Separation and Release Agreement. It provides eligibility for severance under the Keurig Dr Pepper Inc. Executive Severance Plan following the transition period, pro-rata vesting of outstanding equity awards, and an advisory services fee of up to $500,000. The filing states there are no related party transactions reportable under Item 5.02 or Item 404(a) involving DiSilvestro.

Keurig Dr Pepper 8-K Report, Corporate Update (Nov 21, 2025)

Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K under Item 8.01 (Other Events) to disclose a development in the In re: Keurig Green Mountain Single-Serve Coffee Antitrust Litigation, which is pending in the U.S. District Court for the Southern District of New York (SDNY). The court denied the direct purchaser plaintiffs' motion for class certification, finding that they did not meet the federal requirements to pursue the case on a classwide basis. The direct purchaser plaintiffs had claimed more than $3 billion in classwide monetary damages. The direct purchaser plaintiffs have filed a petition with the U.S. Court of Appeals for the Second Circuit seeking to appeal the SDNY decision. The company states that it intends to continue vigorously defending both the direct purchaser plaintiffs' appeal and the remaining lawsuits in the Multidistrict Antitrust Litigation. For further detail, the filing refers readers to Note 15 of the company's Form 10-Q filed on October 28, 2025.

Keurig Dr Pepper 8-K Report, Material Agreement (Oct 30, 2025)

On October 27, 2025, Keurig Dr Pepper Inc. (KDP) entered into an Investment Agreement with Pour Purchaser L.P. (KKR Investor) and AP Pour Holdings, L.P. (Apollo Investor) to issue 3,000,000 shares of a new Series A Convertible Perpetual Preferred Stock at $1,000 per share, for an aggregate purchase price of $3.0 billion. KDP intends to use the proceeds to fund part of the consideration for its previously announced tender offer to acquire all issued ordinary shares of JDE Peet's N.V. (the Acquisition). The preferred stock carries a 4.75% annual dividend (rising by 0.25% after the tenth anniversary of issuance), initial conversion price of $37.25 per share subject to adjustment upon the planned spin-off of KDP's coffee business, and a liquidation preference of $1,000 per share. Holders vote with common stock on an as-converted basis, and the company may defer dividends at its discretion, subject to a conversion cap of 271,580,767 common shares and a 20% value cap. Separately, on October 26, 2025, KDP and certain funds managed by Apollo, KKR and Goldman Sachs Asset Management committed to a strategic minority investment of $4 billion in cash in exchange for a 49% interest in a newly formed Pod Manufacturing joint venture, which would hold KDP's single-serve un-brewed beverage production assets in the United States and Canada and related Canadian coffee assets. KDP would retain 51%. The JV Investment is also intended to fund part of the Acquisition consideration, and is subject to conditions including closing of the Acquisition and maintaining investment-grade credit ratings from at least two of S&P, Moody's and Fitch. The definitive documentation has not yet been finalized. Investors should note that the financing structure includes covenants tied to the spin-off, such as pro forma net leverage limits of 4.00 to 1.00 or 4.25 to 1.00 depending on whether a Qualified IPO of at least $2.0 billion occurs, and additional restrictive covenants if KDP is downgraded by Moody's or S&P.

Keurig Dr Pepper 8-K Report, Financial Results (Oct 27, 2025)

Keurig Dr Pepper Inc. (Nasdaq: KDP) furnished an 8-K on October 27, 2025 announcing its third-quarter 2025 results via Exhibit 99.1, a press release titled "Keurig Dr Pepper Reports Q3 2025 Results and Raises Full Year Net Sales Outlook and Reaffirms EPS Guidance for 2025." Third-quarter net sales rose 10.7% to $4.31 billion (constant currency up 10.6%), with volume/mix growth of 6.4% and net price realization of 4.2%. GAAP diluted EPS was $0.49, up 8.9%, while Adjusted diluted EPS was $0.54, up 5.9%. Adjusted operating income rose 3.8% to $1,091 million, or 25.3% of net sales. Operating cash flow was $639 million and free cash flow was $528 million for the quarter. By segment, U.S. Refreshment Beverages net sales grew 14.4% to $2.7 billion, helped by the GHOST acquisition, which contributed 7.2 percentage points to volume/mix growth. U.S. Coffee net sales increased 1.5% to $991 million, with a volume/mix decline of 4.0% offset by favorable net price realization of 5.5%. International net sales increased 10.5% to $580 million, and its Adjusted operating income fell 4.3% to $155 million. For 2025, the company now expects constant currency net sales growth in a high-single-digit range, up from a mid-single-digit outlook previously. Its Adjusted diluted EPS growth outlook in a high-single-digit range is unchanged. The filing also discusses the pending acquisition of JDE Peet's and the subsequent separation into two pure-play companies, with related acquisition, integration and financing costs and bridge loan financing noted in the reconciliations.

Keurig Dr Pepper 8-K Report, Regulation FD Disclosure (Oct 27, 2025)

Keurig Dr Pepper Inc. (KDP) furnished a press release dated October 27, 2025 (Exhibit 99.1) announcing details of its strategy, leadership and financing for the planned acquisition of JDE Peet's and the subsequent separation into two independent companies, Beverage Co. and Global Coffee Co. The company announced a capital-efficient $7 billion package of strategic investments co-led by Apollo and KKR. The company says these investments reduce projected net leverage at acquisition close to 4.6x, down about 1.0x, with estimated adjusted EPS accretion of about 10% in the first full year. The acquisition close is expected in the first half of 2026. The package includes a binding commitment letter and term sheet for a $4 billion investment in a newly formed K-Cup pod and single-serve manufacturing joint venture, in which KDP will retain a controlling interest and operational control. It also includes a definitive agreement for a $3 billion convertible preferred stock investment in the company and the eventual Beverage Co., with an initial conversion price of $37.25 per share and an initial preferred dividend rate of 4.75% per annum. Targeted net leverage at separation is about 3.5-4.0x for Beverage Co. and 3.75-4.25x for Global Coffee Co., and the company is evaluating further deleveraging options, including potential non-core asset sales. Leadership changes were also disclosed. Sudhanshu Priyadarshi will no longer assume the future CEO role at Global Coffee Co., and a search for that CEO has begun. Tim Cofer will remain CEO until separation and then lead Beverage Co. The company aims to be operationally ready to separate by the end of 2026, and Brian Driscoll is planned to be nominated to the Board at the next annual meeting.

Keurig Dr Pepper 8-K Report, Corporate Update (Sep 17, 2025)

Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K under Item 8.01 (Other Events) to announce a leadership change in its U.S. Coffee business. Olivier Lemire has been appointed President, U.S. Coffee. Mr. Lemire has been with the Company since 2011 and previously served as President of the Company's Canadian business. The filing also states that Patrick Minogue, the Company's former President of U.S. Coffee, will remain with the Company to support the transition to his successor through September 30, 2025. This indicates a planned, short handover period rather than an immediate departure. The filing contains no financial results, guidance, or quantitative disclosures. For investors, the update is an operational management change in one of the Company's core segments, with the stated continuity arrangement intended to support a smooth transition.

Keurig Dr Pepper 8-K Report, Corporate Update (Sep 16, 2025)

Keurig Dr Pepper Inc. (Nasdaq: KDP) filed this Current Report on Form 8-K under Item 8.01 (Other Events) to disclose that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share on its common stock. The dividend is payable in U.S. dollars on October 10, 2025, to shareholders of record as of September 26, 2025. The announcement was made in a press release dated September 16, 2025, which is furnished as Exhibit 99.1. The filing is a routine capital return notice and contains no financial statements, operating results, guidance, or other financial metrics. Under Item 9.01, the only exhibits listed are the press release (Exhibit 99.1) and the Inline XBRL cover page (Exhibit 104). For investors, the key takeaways are the dividend amount, the record date, and the payment date. The filing does not address other corporate developments.

Keurig Dr Pepper 8-K Report, Material Agreement (Aug 25, 2025)

On August 24, 2025, Keurig Dr Pepper Inc. (KDP) entered into a Merger Protocol with JDE Peet's N.V. under which KDP will commence a cash tender offer at €31.85 per share, with JDE Peet's also paying a previously declared €0.36 dividend before closing without reducing the offer price. The filing states the offer values JDE Peet's at approximately €15.7 billion in equity consideration and an enterprise value of approximately $23 billion, and that the transaction is expected to be followed by a tax-free spin-off of a separate pure-play coffee company, Global Coffee Co., with KDP's remaining business becoming Beverage Co. Commencement and closing are expected in the first half of 2026, subject to conditions including a minimum acceptance level of 95% (reducible to 80%), competition clearances, and a Dutch regulatory approval of the offer memorandum. The transaction is supported by irrevocable undertakings from Acorn Holdings B.V., an affiliate of JAB Holding Company, and certain JDE Peet's directors, who together hold approximately 69% of the shares. KDP has obtained a 364-day senior unsecured bridge credit facility of up to €16.2 billion from lenders led by Morgan Stanley Senior Funding, Inc. The merger protocol provides for a termination fee of approximately €156.7 million payable by JDE Peet's in certain circumstances, including a competing offer that is at least 10% higher in cash. KDP states it expects the transaction to be EPS accretive immediately and to deliver approximately $400 million in cost synergies over three years. The filing states that the company expects to fund the transaction through new senior unsecured and junior subordinated debt and cash on hand, and that it expects to remain investment grade rated. Investors should note that the filing contains forward-looking statements subject to risks including completion timing, regulatory approvals, integration disruption, and litigation.

Keurig Dr Pepper 8-K Report, Corporate Update (Aug 15, 2025)

Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K under Item 8.01 (Other Events) to disclose a change in its trustee, paying agent and registrar for two debt indentures. The filing states that U.S. Bank Trust Company, N.A. ("US Bank") was appointed on August 15, 2025 as trustee, paying agent and registrar under the company's indenture dated December 15, 2009 and its indenture dated May 25, 2018, including each supplemental indenture to those agreements. U.S. Bank replaces Computershare Trust Company, N.A. ("Computershare"), which resigned from those roles under the indentures. The change to paying agent and registrar is expected to become effective August 25, 2025. The filing is administrative in nature and does not disclose financial results, financing transactions, or changes to the terms of the indentures or the company's debt obligations.

Keurig Dr Pepper 8-K Report, Financial Results (Jul 24, 2025)

Keurig Dr Pepper Inc. (NASDAQ: KDP) reported second-quarter 2025 results on July 24, 2025 in a Form 8-K furnishing Exhibit 99.1, a press release titled "Keurig Dr Pepper Reports Q2 2025 Results and Reaffirms Guidance for 2025." Q2 net sales rose 6.1% on a reported basis to $4.16 billion (7.2% on a constant currency basis), driven by volume/mix growth of 5.0% and net price realization of 2.2%. GAAP diluted EPS was $0.40, up 5.3%, while Adjusted diluted EPS rose 11.1% to $0.49. GAAP operating income increased 4.3% to $898 million, and Adjusted operating income increased 7.0% to $1,028 million, or 24.7% of net sales. By segment, U.S. Refreshment Beverages net sales grew 10.5% to $2.7 billion, with volume/mix up 9.5%, reflecting share gains in carbonated soft drinks, energy and sports hydration, and the GHOST acquisition. U.S. Coffee net sales were roughly flat, down 0.2% to $0.9 billion, as favorable net price realization of 3.6% was offset by a 3.8% volume/mix decline. International net sales fell 1.8% to $0.6 billion, but rose 5.7% on a constant currency basis. For the first six months, net sales increased 5.5% to $7.80 billion and Adjusted diluted EPS rose 9.5% to $0.91. Management reaffirmed its 2025 outlook for mid-single-digit constant currency net sales growth and high-single-digit Adjusted diluted EPS growth, with foreign currency expected to be about a one-half percentage point headwind. Q2 operating cash flow was $431 million and free cash flow was $325 million.

Keurig Dr Pepper 8-K Report, Regulation FD Disclosure (Jun 24, 2025)

Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K under Item 7.01 (Regulation FD Disclosure) in connection with meetings with members of the investment community held on June 23–24, 2025. In these meetings, the Company reaffirmed its previously announced 2025 guidance. The reaffirmed guidance calls for constant currency net sales growth in a mid-single-digit range and Adjusted diluted EPS growth in a high-single-digit range for 2025. The Company states that it provides guidance only on a non-GAAP basis and does not reconcile forward-looking non-GAAP measures to GAAP, citing the inability to predict the amount and timing of certain items such as non-cash mark-to-market gains or losses on derivatives, which could be material. The filing contains no new financial results or figures beyond the reaffirmation itself, and the information is furnished rather than filed for purposes of Section 18 of the Exchange Act.

Keurig Dr Pepper 8-K Report, Shareholder Vote Results (Jun 23, 2025)

Keurig Dr Pepper Inc. filed this Current Report on Form 8-K to disclose the results of matters voted on at its Annual Meeting of Stockholders, held on June 18, 2025. Stockholders elected all nine nominated directors to one-year terms, including Timothy Cofer, Robert Gamgort, Oray Boston, Juliette Hickman, Pamela Patsley, Debra Sandler, Robert Singer, Mike Van de Ven, and Lawson Whiting. Each director received substantially more votes for than against, with Pamela Patsley receiving the most opposition at 51,127,240 against votes and Oray Boston at 17,344,990. Stockholders also approved, on an advisory basis, the company's executive compensation, with 1,153,935,594 votes for and 67,119,808 against. In addition, stockholders ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2025, with 1,242,944,252 votes for and 3,558,643 against. The filing reports governance outcomes only and does not disclose new financial results, transactions, or strategic changes. For investors, the votes indicate broad stockholder support for the board, executive pay practices, and the auditor selection.

Keurig Dr Pepper 8-K Report, Corporate Update (May 21, 2025)

Keurig Dr Pepper Inc. (KDP) filed this Form 8-K on May 21, 2025 to report under Item 8.01 (Other Events) that its Board of Directors has declared a regular quarterly cash dividend of $0.23 per share on the Company's common stock. The dividend is payable in U.S. dollars on July 11, 2025, to shareholders of record as of June 27, 2025. The filing is a routine capital-return notice and contains no financial statements, results of operations, or guidance. The announcement was made through a press release, attached as Exhibit 99.1, titled "Keurig Dr Pepper Declares Quarterly Dividend." The press release describes the Company as a leading North American beverage company with more than 125 owned, licensed and partner brands and annual revenue of more than $15 billion. For investors, the key takeaways are the per-share dividend amount and the dates that determine eligibility and payment. The filing does not state any change in the dividend rate or any other corporate action.

Keurig Dr Pepper 8-K Report, Material Agreement (May 5, 2025)

On May 5, 2025, Keurig Dr Pepper Inc. issued $2.0 billion aggregate principal amount of senior unsecured notes under its March 7, 2024 base indenture with U.S. Bank Trust Company, National Association, as trustee, as supplemented by a Second Supplemental Indenture of the same date. The offering consisted of four $500.0 million tranches: Floating Rate Senior Notes due 2026 (interest at compounded SOFR plus 0.580%, reset quarterly, maturing November 15, 2026), 4.350% Senior Notes due 2028, 4.600% Senior Notes due 2030, and 5.150% Senior Notes due 2035. The fixed rate notes pay interest semi-annually on May 15 and November 15, beginning November 15, 2025. The notes are unsecured and unsubordinated, rank equally with the company's other unsubordinated indebtedness, and are fully and unconditionally guaranteed by certain domestic subsidiaries. The company may redeem the fixed rate notes before maturity but may not redeem the floating rate notes prior to maturity. Upon a change of control triggering event, holders may require repurchase at 101% of principal plus accrued interest. The indenture contains customary events of default and covenants limiting secured debt, certain sale and leaseback transactions, and certain mergers or asset transfers. Separately, JAB BevCo B.V. completed a registered secondary offering of 75,000,000 shares of KDP common stock on May 5, 2025, generating gross proceeds to the selling stockholder of approximately $2.5 billion. The company received no proceeds from the sale. JAB BevCo B.V. is majority-owned by JAB Holding Company s.à.r.l. The underwriting agreement dated May 1, 2025 was with J.P. Morgan Securities LLC as underwriter. For investors, the filing's key points are the new $2.0 billion debt issuance with staggered maturities from 2026 to 2035 and the completion of a large secondary share sale by a major shareholder, which did not generate capital for the company.

Keurig Dr Pepper 8-K Report, Corporate Update (Apr 30, 2025)

Keurig Dr Pepper Inc. (KDP) reported in this Form 8-K, filed April 30, 2025, that on April 28, 2025 it entered into an underwriting agreement with BNP Paribas Securities Corp., BofA Securities, Inc., J.P. Morgan Securities LLC and Truist Securities, Inc., as representatives of the underwriters, to issue and sell $2.0 billion in aggregate principal amount of senior notes in four tranches of $500 million each: Floating Rate Senior Notes due 2026, 4.350% Senior Notes due 2028, 4.600% Senior Notes due 2030 and 5.150% Senior Notes due 2035. The company estimates net proceeds of approximately $1,986 million after underwriting discounts and offering expenses. It intends to use the proceeds for general corporate purposes, including repaying certain outstanding commercial paper borrowings and/or certain of its outstanding senior notes. The offering was made under a Form S-3 registration statement (File No. 333-266989) filed August 19, 2022, and closing is expected on May 5, 2025, subject to customary closing conditions. The underwriting agreement is filed as Exhibit 1.1.

Keurig Dr Pepper 8-K Report, Executive Changes (Apr 25, 2025)

Keurig Dr Pepper Inc. (KDP) reported in this Form 8-K, filed April 25, 2025, that its Board approved a leadership transition on April 21, 2025. Robert Gamgort moves from Executive Chairman to non-employee Chairman of the Board, effective April 24, 2025, and will receive the compensation described in the Company's 2025 proxy statement filed the same day. The Board also increased its size to ten directors and appointed Michael Van de Ven and Lawson Whiting as independent directors, effective April 24, 2025. Mr. Van de Ven joined the Audit and Finance Committee and Mr. Whiting joined the Remuneration and Nomination Committee. Both will stand for election at the 2025 annual meeting of stockholders. The filing states there are no arrangements or understandings pursuant to which either new director was appointed, and neither is party to a related-person transaction reportable under Item 404(a) of Regulation S-K. Both will participate in the standard non-employee director compensation arrangements described in the 2025 Proxy Statement.

Keurig Dr Pepper 8-K Report, Financial Results (Apr 24, 2025)

Keurig Dr Pepper Inc. (KDP) reported first-quarter 2025 results on April 24, 2025, with net sales of $3.6 billion, up 4.8% as reported and 6.4% on a constant currency basis. Volume/mix growth of 3.6% and favorable net price realization of 2.8% drove the increase, and the GHOST acquisition contributed 2.9 percentage points to volume/mix. GAAP net income rose 13.9% to $517 million, or $0.38 per diluted share, aided by a favorable year-over-year impact of items affecting comparability. Adjusted diluted EPS increased 10.5% to $0.42, supported by adjusted operating income growth and a realized gain on the sale of the company's Vita Coco investment. Results were mixed by segment. U.S. Refreshment Beverages net sales grew 11.0% to $2.3 billion on market share gains in carbonated soft drinks, energy, and sports hydration, as well as GHOST. U.S. Coffee net sales fell 3.7% to $0.9 billion, as a 5.2% volume/mix decline, tied to the timing of category pricing actions implemented in response to escalating green coffee costs, more than offset 1.5% favorable net price realization. International net sales decreased 6.3% to $0.4 billion, although constant currency net sales increased 5.4%. Operating cash flow was $209 million and free cash flow was $102 million for the quarter. KDP reaffirmed its 2025 guidance, calling for mid-single-digit constant currency net sales growth and high-single-digit Adjusted diluted EPS growth. The company expects foreign currency translation to be roughly a one percentage point headwind to full-year top- and bottom-line growth at current rates. The filing also notes that two new independent directors were appointed to the Board effective April 24, 2025. The filing lists risks including global economic uncertainty, tariffs, and the possibility that the GHOST integration does not succeed as planned.

Keurig Dr Pepper 8-K Report, Material Agreement (Mar 31, 2025)

On March 31, 2025, Keurig Dr Pepper Inc. entered into a new unsecured revolving credit agreement with lenders and issuing banks party thereto and JPMorgan Chase Bank, N.A. as administrative agent. The facility provides for a $4 billion revolving credit line, usable for general corporate purposes and working capital, and matures on March 31, 2030. Borrowings bear interest at either term SOFR plus a margin of 0.750% to 1.250%, or an alternative base rate plus a margin of zero to 0.250%, depending on the rating of certain of the Company's index debt. The agreement contains customary investment-grade representations, warranties, and affirmative and negative covenants, including a financial covenant requiring a minimum interest coverage ratio of 3.25 to 1.00, and customary events of default, including a change of control. In connection with the new agreement, the Company terminated its existing revolving credit agreement dated February 23, 2022, under which no amounts had been drawn prior to termination. The filing is a refinancing of the Company's revolving liquidity line rather than a new borrowing, but it signals continued access to committed bank credit on a five-year term. The full agreement is filed as Exhibit 10.1 and is incorporated by reference.

Keurig Dr Pepper 8-K Report, Executive Changes (Feb 28, 2025)

On February 28, 2025, JAB BevCo B.V. (the Selling Stockholder) completed a registered public secondary offering of 73,000,000 shares of Keurig Dr Pepper Inc. (KDP) common stock. The underwriter, J.P. Morgan Securities LLC, exercised in full its 30-day option to buy an additional 10,950,000 shares, bringing the total to 83,950,000 shares. The Selling Stockholder received gross proceeds of approximately $2.7 billion. The Company did not receive any proceeds from the sale. Separately, three directors affiliated with JAB BevCo B.V. (Joachim Creus, Frank Engelen and Olivier Goudet) notified the Executive Chairman on February 26, 2025 that each intends to resign from the Board effective upon closing of the offering. The filing states that none of the resignations resulted from any disagreement with the Company or the Board. As a result, the Board will be reduced from eleven to eight directors. The offering was made under a previously filed Form S-3 registration statement (File No. 333-266989) and a resale prospectus supplement, and the Underwriting Agreement dated February 26, 2025 is filed as Exhibit 1.1.

Keurig Dr Pepper 8-K Report, Financial Results (Feb 25, 2025)

Keurig Dr Pepper Inc. (Nasdaq: KDP) reported fourth-quarter and full-year 2024 results on February 25, 2025, as set out in Exhibit 99.1, a press release titled "Keurig Dr Pepper Reports Q4 and Full Year 2024 Results and Provides 2025 Outlook." For full year 2024, reported net sales were $15.35 billion, up 3.6%, and constant currency net sales rose 3.9%. GAAP diluted EPS was $1.05, down 32.3%, while Adjusted diluted EPS was $1.92, up 7.8%. GAAP operating income fell 18.8% to $2.6 billion, reflecting $718 million in goodwill and other intangible impairments and a $225 million accrual for upcoming GHOST distribution termination payments. Adjusted operating income rose 9.0% to $4.0 billion, or 25.9% of net sales. By segment, U.S. Refreshment Beverages net sales grew 5.8% to $9.3 billion, U.S. Coffee net sales declined 2.6% to $4.0 billion, and International net sales rose 6.8% to $2.1 billion. Full-year operating cash flow increased 67.0% to $2.2 billion and free cash flow increased 81.8% to $1.7 billion. Fourth-quarter reported net sales were $4.07 billion, up 5.2%, and GAAP net loss was $(144) million, or $(0.11) per diluted share. For 2025, the company targets mid-single-digit net sales growth and high-single-digit Adjusted diluted EPS growth on a constant currency basis, including the anticipated contribution from the recent GHOST acquisition. Foreign currency translation is forecast to be a one to two percentage point headwind to top- and bottom-line growth.

Keurig Dr Pepper 8-K Report, Corporate Update (Feb 11, 2025)

Keurig Dr Pepper Inc. (KDP) filed a Form 8-K on February 11, 2025, reporting under Item 8.01 (Other Events) that its Board of Directors declared a regular quarterly cash dividend of $0.23 per share on its common stock. The dividend is payable in U.S. dollars on April 11, 2025, to shareholders of record on March 28, 2025. The announcement was made in a press release, filed as Exhibit 99.1 and titled "Keurig Dr Pepper Declares Quarterly Dividend for Q4 2024." The filing also includes a Cover Page Interactive Data File (Exhibit 104). The company's common stock trades on the Nasdaq Stock Market LLC under the symbol KDP. The filing is limited to the dividend declaration and its key dates. It does not contain financial results, guidance, or other operating information. The press release's boilerplate describes the company as a leading North American beverage company with annual revenue of approximately $15 billion, more than 125 owned, licensed and partner brands, and 28,000 employees.

Keurig Dr Pepper 8-K Report, Executive Changes (Jan 13, 2025)

Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K under Item 5.02, disclosing a leadership change. Andrew Archambault, the company's President, U.S. Refreshment Beverages and a named executive officer in the Company's 2024 Proxy Statement, resigned from his position effective January 13, 2025. Mr. Archambault will support the transition to his successor until his departure from the Company on January 31, 2025, to pursue an opportunity outside the Company. The filing does not name a successor or describe any compensation arrangements tied to his departure. For investors, the filing is narrow in scope: it reports a senior executive departure in the U.S. Refreshment Beverages unit, with a defined transition period ending January 31, 2025, and no other financial or operational results are reported in this filing.

Keurig Dr Pepper 8-K Report, Corporate Update (Jan 3, 2025)

Keurig Dr Pepper Inc. (KDP) reported in this Form 8-K, dated December 31, 2024 and signed January 3, 2025, under Item 8.01 (Other Events), that its wholly owned subsidiary, The American Bottling Company (ABC), closed the previously announced series of transactions to acquire 60% of the issued and outstanding equity interests of GHOST Lifestyle LLC and its subsidiaries, including Ghost Beverages, LLC. The closing took place on December 31, 2024. In connection with the closing, ABC entered into an Amended and Restated Merger Agreement with Ghost Beverages and other parties, and an Amended and Restated Contribution and Merger Agreement with Ghost Lifestyle and other parties. The filing states these amendments implement certain minor changes to the original agreements. The filing does not disclose purchase price, financing terms, or financial results of the acquired business. It includes standard forward-looking statements cautioning that actual results may differ materially and referring investors to the risks described in the Company's Form 10-K and subsequent SEC filings.

Keurig Dr Pepper 8-K Report, Corporate Update (Dec 10, 2024)

Keurig Dr Pepper Inc. (KDP) filed a Current Report on Form 8-K dated December 10, 2024, under Item 8.01 (Other Events). The filing states that the Company issued a press release on that date announcing that its Board of Directors declared a regular quarterly cash dividend of $0.23 per share on its common stock. The dividend is payable in U.S. dollars on January 17, 2025, to shareholders of record on January 3, 2025. The filing contains no financial statements; Item 9.01 lists only the press release (Exhibit 99.1) and the Inline XBRL cover page (Exhibit 104). The accompanying press release describes the Company as a leading North American beverage company with more than 125 owned, licensed and partner brands and annual revenue of approximately $15 billion. For investors, the filing's main substance is the routine declaration of a quarterly dividend, with the key dates for record and payment.

Keurig Dr Pepper 8-K Report, Corporate Update (Oct 30, 2024)

On October 30, 2024, Keurig Dr Pepper Inc. (KDP) disclosed the completion of a registered secondary offering by its majority-controlled holder, JAB BevCo B.V. (the Selling Stockholder). The offering covered 60,000,000 shares of common stock. Morgan Stanley & Co. LLC, the Underwriter, exercised in full its 30-day option for an additional 9,000,000 shares on October 29, 2024, bringing the total to 69,000,000 shares. The closing for those 69,000,000 shares occurred on October 30, 2024, with gross proceeds to the Selling Stockholder of approximately $2.3 billion. The Company did not receive any proceeds from the sale of shares by the Selling Stockholder. The Selling Stockholder is a holding company majority-owned by JAB Holding Company s.à.r.l. The offering was governed by an Underwriting Agreement dated October 28, 2024, among the Company, the Selling Stockholder and the Underwriter, which is filed as Exhibit 1.1 and incorporated by reference. The filing also states that the offering was made under the Company's previously filed Form S-3 (File No. 333-266989) and a resale prospectus supplement, filed with the SEC on October 30, 2024, for the Offering. The filing does not describe any change to the Company's operations, financial results, or guidance.

Keurig Dr Pepper 8-K Report, Executive Changes (Oct 28, 2024)

Keurig Dr Pepper Inc. (KDP) filed this Current Report on Form 8-K under Item 5.02, disclosing a change in its Board of Directors. Lubomira Rochet notified the Executive Chairman of the Board of her immediate resignation as a director on October 28, 2024. The filing states that her resignation did not result from any disagreement with the Company or the Board. On the same date, the Board appointed Frank Engelen, Managing Partner and Chief Financial Officer of JAB Holding Company, as a director, effective immediately. Mr. Engelen's initial term expires concurrently with the other directors' terms at the 2025 annual meeting of stockholders, or upon his earlier death, resignation or removal. He will not serve on any Board committees. The filing states that Mr. Engelen has no arrangements or understandings with any other persons regarding his appointment and is not a party to any reportable related-person transaction under Item 404(a) of Regulation S-K. He will receive compensation as a non-employee director under the arrangements described in the Company's 2024 Proxy Statement, filed with the SEC on April 26, 2024. The filing contains no financial results or other operating data.