Coca-Cola reported a strong start to 2026 with robust revenue and EPS growth, driven by solid unit case volume increases and effective price/mix strategies across its global operations. The company demonstrated strong execution in localized marketing and revenue growth management, leading to market share gains.
Net revenues grew 12% to $12.5 billion, with organic revenues growing 10%.
positiveDiluted EPS grew 18% to $0.91, and comparable EPS grew 18% to $0.86.
positiveUnit case volume grew 3% globally, led by China, the United States, and India.
positiveOperating margin expanded to 35.0% from 32.9% in the prior year.
positiveThe company gained value share in total NARTD beverages globally.
positivePrice/mix declined 6% in Asia Pacific, primarily driven by unfavorable mix and affordability initiatives.
attentionOperating income declined 14% in Asia Pacific, with comparable currency neutral operating income declining 17%, primarily driven by higher input costs and marketing investments.
negativeConcentrate sales were 5 points ahead of unit case volume in consolidated results, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments.
attentionComparable operating margin (non-GAAP) expansion was partially offset by higher input costs and an increase in marketing investments.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
| Segment | Current | Prior Yr | YoY | % Total | CC |
|---|---|---|---|---|---|
EMEA | N/A | — | — | — | +11.0% |
Latin America | N/A | — | — | — | +9.0% |
North America | N/A | — | — | — | +17.0% |
Asia Pacific | N/A | — | — | — | +5.0% |
Bottling Investments | N/A | — | — | — | +10.0% |
| Total Revenue | $0.00M | — | — | 100.0% | — |
Segment performance shows business unit health and growth drivers. Constant currency (CC) removes FX impact for like-for-like comparison.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
| Metric | Value | Period | Specificity | vs Prior |
|---|---|---|---|---|
| earnings_per_share | 6-7% | FY2026 | tight_range | New |
| revenue | 4-5% | FY2026 | tight_range | New |
| effective_tax_rate | 19.9% | FY2026 | point | New |
| earnings_per_share | 8-9% | FY2026 | tight_range | New |
We’ve had a strong start to the year.
Our performance this quarter reflects our unwavering focus on staying close to the consumer, executing locally and managing complexity.
Yet there’s so much more we can do as we navigate a dynamic environment.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.