Coca-Cola Lifts 2026 Outlook on Strong Q2 Results

Coca-Cola raised its full-year 2026 outlook on July 28, after delivering strong second-quarter results. The company's net revenues rose 7% to $13.4 billion for the quarter ended July 3, with concentrate sales growing 4% and price/mix adding 2%. On a non-GAAP basis, comparable operating margin was 35.6%, up from 34.7%, and comparable EPS rose 11% to $0.97.

North America grew unit case volume by 3% with price/mix up 4%, while Asia Pacific led volume growth at 8%. However, the region's price/mix fell 9%, and operating income was even.

Management now expects organic revenue growth of about 5% for 2026, up from 4% to 5%. Comparable currency-neutral EPS growth guidance rose to 7% to 8% from 6% to 7%. The company's fiscal quarters do not match calendar quarters exactly, and it reports in US dollars but earns much of its revenue abroad.