Our sales outlook taste so good, Keurig Dr Pepper Inc. (NASDAQ: KDP) third-quarter earnings surpassed analyst estimates.

The beverage maker posted adjusted earnings of $0.54 per share for the third quarter, matching analyst estimates. Revenue jumped 10.7% to $4.31 billion, exceeding the consensus forecast of $4.15 billion. The strong performance was primarily driven by robust growth in the U.S. Refreshment Beverages segment and improving trends in the U.S. Coffee business.

KDP raised its fiscal 2025 constant currency net sales growth outlook to a high-single-digit range, up from its previous mid-single-digit growth forecast, while reaffirming its adjusted earnings per share growth guidance in a high-single-digit range.

“We are pleased with our third quarter results, which demonstrated robust growth in U.S. Refreshment Beverages and encouraging sequential progress in U.S. Coffee,” said CEO Tim Cofer. “Strong innovation and in-market execution drove market share gains across key categories.”

The company’s U.S. Refreshment Beverages segment saw a 14.4% increase in net sales to $2.7 billion, driven by 11.2% volume/mix growth and 3.2% favorable price realization. The acquisition of GHOST contributed 7.2 percentage points to volume/mix growth in this segment.

Meanwhile, the U.S. Coffee segment reported a modest 1.5% increase in net sales to $991 million, with 5.5% favorable price realization offsetting a 4.0% volume/mix decline.

The International segment delivered a 10.5% increase in net sales to $580 million, with constant currency growth of 10.1%.