Keurig Dr Pepper

Beverages: KDP has demonstrated effective price/mix actions across CSDs while sustaining or gaining share, a hallmark of pricing power in staples. 2025 U.S. Refreshment Beverages net sales rose 11.9 percent with 2.9 percent price and 9.0 percent volume/mix, and adjusted operating income approached 30 percent of segment sales. Coffee: In 2025 U.S.

Coffee net sales increased 0.6 percent with 4.8 percent price partially offset by volume/mix declines; profitability is sensitive to green coffee costs and tariffs, visible again in Q1 2026 margin pressure.

The renewal of Starbucks K‑Cup should support premium mix and long‑term price realization, but competitive alternatives limit unconstrained pricing. Overall: solid pricing power in beverages; selective, partner‑aided pricing power in coffee.