Keurig Dr Pepper Inc. (KDP) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Except as required by law, we do not undertake any obligation to update any forward-looking statements discussed today. For more information, please refer to our earnings release and the risk factors discussed in our most recent Form 10-K, which will be filed with the FCC later today. Consistent with previous quarters, we will be discussing our Q4 and full-year performance on a non-gap adjusted basis, which reflects constant currency growth rates and excludes items affecting comparability. Definitions and reconciliations to the most directly comparable GAAP metrics are included in our earnings materials. Here with us today to discuss the results are Keurig Dr. Pepper's Chief Executive Officer, Tim Cofer, Chief Financial Officer, Anthony DiSilvestro, and SVP of Strategic Finance and Capital Markets, Jane Gelfand. I'll now turn it over to Tim. Thanks, Chafin, and good morning, everyone. 2025 was a strong year for KDP. We delivered healthy results that achieved our annual guidance. We drove winning innovation and commercial performance, generating the fastest U.S. retail sales growth among top food and beverage manufacturers, with market share gains across our portfolio. And we laid the groundwork for KDP's transformational next chapter through the announced acquisition of J.D.E. Peets and planned separation into two leading pure play companies, Beverage Co. and Global Coffee Co. Said differently, we navigated a dynamic operating environment with agility while strengthening our foundation for the long term. And the same can be said for J.D.E. Peets, which earlier this morning issued 2025 results that demonstrated solid financial performance and strong progress advancing its refreshed strategy. In 2026, we will build upon our momentum with a focus on three objectives tha...