Management credibility scorecard

Keurig Dr Pepper (KDP)

Latest analysis · KDP Q2 2026 · September 12, 2026

Keurig Dr Pepper: The EPS target holds; the earnings underneath it have changed.

Strong beverages support the business, but tariff refunds, derivative timing and a new financing structure complicate the coffee recovery.

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1 quarters tracked (Q2'26 to Q2'26) · latest call August 6, 2026

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100%

Kept of 2 resolved - limited history

Kept or exceeded

Missed

Still pending

-0.9%

Share count, 3 yrs/yr · flat

Score History

Quarter	Call date	Disclosure	Financial quality	Kept	Missed
Q2'26	August 6, 2026	-	-	2	0	Call sheet →

Disclosure: the 6-item rubric, each scored 0-2, out of 12. Financial quality: flagged indicators by severity. Kept and missed count the prior-quarter promises scored on that call.

Promise Ledger · All Quarters

Marked	Status	Promise
Q2'26	Pending	April 23: readiness by end-2026; separation likely early 2027 Separation timing reiterated; CEO search ongoing
Q2'26	Pending	April 23: improving U.S. Coffee trajectory Demand softer; Q2 segment perimeter changed
Q2'26	Pending	April 23: low-double-digit constant-currency annual EPS growth Reaffirmed with changed depreciation/refund assumptions
Q2'26	Pending	April 23: approximately $2.5B 2026 FCF First-half issuer FCF $898M; target reiterated
Q2'26	Delivered	April 23: approximately 4.5x leverage at midyear June pro forma management leverage 4.4x
Q2'26	Exceeded	April 23: high-single-digit Q2 total-company adjusted EPS growth Reported constant-currency adjusted EPS growth 16.3%

Each row is a promise from the prior call, scored against the quarter in "Marked". Kept-promise rate counts resolved promises only; pending is excluded.

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Promise-kept rate counts resolved promises only (pending excluded).

Scores, kept-promise rates, and flags on this site reflect the author's opinion, applying a stated methodology to statements management made on public earnings calls. Informational and educational purposes only - not investment advice, a recommendation, or an offer to buy or sell any security. Sources believed reliable but not guaranteed; the author may hold positions in the securities discussed.

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