Keurig Dr Pepper Inc (KDP) stock surged 5.69% in pre-market trading on Thursday, following the release of its second-quarter results that exceeded Wall Street expectations and the company's reaffirmation of its full-year 2026 outlook.

The beverage giant reported adjusted earnings per share of $0.57, surpassing the consensus estimate of $0.54. Net sales for the quarter jumped 75.6% to $7.31 billion, also beating the forecast of $7.24 billion. The strong performance was primarily driven by a 10% sales increase in the U.S. Refreshment Beverages segment, fueled by robust demand for Dr Pepper, Ghost energy drinks, and Electrolit hydration products. The newly acquired JDE Peet’s business contributed $2.8 billion in revenue, helping to offset ongoing weakness in the U.S. Coffee segment.

Management reaffirmed its 2026 constant-currency net sales guidance of $25.9 billion to $26.4 billion and maintained its expectation for low-double-digit adjusted diluted EPS growth. The company also noted progress on its integration and separation efforts, remaining on track for a planned separation in early 2027. The positive earnings surprise and steady outlook boosted investor confidence, driving the pre-market rally.