Keurig Dr Pepper's energy drink portfolio crossed a 9% market share in the second quarter of 2026, up from less than 1% about four years ago, with annualized net sales of roughly $1.5 billion. The company's U.S. Coffee business, however, saw net sales decline 3.2% and segment operating income fall 24.7% in the same quarter, hurt by higher green coffee costs, tariffs, unfavorable mix, and increased marketing spending. Management noted that shifts between energy and coffee have been broadly neutral over the past three to four years, suggesting consumers use both for different occasions. Keurig Dr Pepper shares have gained 8.7% in the past three months, outperforming the industry and the broader Consumer Staples sector, and the stock trades at a forward 12-month P/E of 12.97X, below the industry average of 19.95X.
Keurig Dr Pepper IncEnergy drink portfolio crossed 9% market share with $1.5B annualized sales, offsetting coffee softness.
The Coca-Cola Company
Primo Brands Corporation
Darling Ingredients Inc