Global soft drinks manufacturer Keurig Dr Pepper (KDP) saw net sales increasing by 7.3 per cent, excluding the contribution from the JDE Peet’s acquisition, to approximately £5.4bn but GAAP operating income dropped 30.1 per cent.

The company’s adjusted operating income went up by 42.9 per cent to £1.1bn, and totalled 20.2 per cent of net sales.

The adjusted operating income growth was driven by net sales growth, productivity savings and the JDE Peet’s acquisition, which was partially offset by the impact of inflationary pressures.

However, KDP’s GAAP operating income went down by 30.1 per cent to around £465m, which was affected by an unfavourable year-on-year impact of items affecting comparability.

The company’s international net sales during the second quarter increased by 19.6 per cent to approximately £491m.

On a constant currency basis net sales went up by 12.4 per cent which was driven by a volume/mix growth of 6.5 per cent and favourable net price realisation of 5.9 per cent.

Subscribe to Grocery Gazette for free

Sign up here to get the latest grocery and food news each morning

CEO of KDP, Tim Cofer said:  “We delivered another strong quarter of results, with Q2 EPS exceeding our expectations.

“US refreshment beverages generated double-digit top- and bottom-line growth, KDP International sequentially improved as planned, and our combined coffee platform delivered solid performance, with healthy JDE Peet’s results balanced against US Coffee pressures.

“At the midpoint of the year, we remain on track to achieve our 2026 financial and transformation commitments while preparing for a successful separation in early 2027.”

Moving forward, the business has forecasted a net sales growth of between 4 and 6 per cent on a constant currency basis and adjusted EPS growth for the KDP’s legacy segment.

The company also expects a 1 per cent tailwind to the 2026 full-year net sales and EPS growth due to a negative impact from foreign currency translation.