Coca-Cola reported quarterly earnings and revenue that beat expectations, though demand for its drinks remains weak but improving. Adjusted earnings per share were 82 cents, above the 78 cents forecast, with adjusted revenue at $12.41 billion, just above the $12.39 billion estimate.
Net income rose to $3.7 billion, or 86 cents per share, up from $2.85 billion a year earlier. Organic revenue, excluding acquisitions and currency effects, grew 6%, with net sales up 5% to $12.46 billion. Unit case volume increased by 1%, recovering from last quarter’s drop, but was flat in key North and Latin American markets.
“After a slower start, we ended with improved performance during the quarter,” CFO John Murphy said.
CEO James Quincey noted fewer purchases from lower-income U.S. consumers and highlighted dollar store growth as a sign of financial pressure. The company is pushing “affordable” options like mini cans with lower upfront prices.
COO Henrique Braun said, “Despite ongoing differences in spending between income groups and slower traffic across channels, [North American] volume was flat and improved sequentially for the second consecutive quarter.”
European volumes declined in places, though the region overall saw 3% growth. Premium brands like Fairlife and Smartwater remain strong.
Water, sports drinks, coffee, and tea led global volume growth, while sparkling soft drinks held steady and juice, dairy, and plant-based beverages declined by 3%.
Coca-Cola confirmed its full-year outlook, expecting a 3% rise in comparable earnings per share and 5-6% organic revenue growth, with modest currency gains projected in 2026.