{"id":955195,"date":"2026-04-28T06:58:05","date_gmt":"2026-04-28T10:58:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/"},"modified":"2026-04-28T06:58:05","modified_gmt":"2026-04-28T10:58:05","slug":"coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/","title":{"rendered":"Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwblockalignc { margin-left: auto; margin-right: auto }\n.bwblockalignl { margin-left: 0px; margin-right: auto }\n.bwcellpmargin { margin-bottom: 0px; margin-top: 0px }\n.bwleftsingle { border-left: solid black 1pt }\n.bwlistcircle { list-style-type: circle }\n.bwlistdisc { list-style-type: disc }\n.bwmarginl2 { margin-left: 60px }\n.bwpadb3 { padding-bottom: 4px }\n.bwpadl0 { padding-left: 0px }\n.bwpadr0 { padding-right: 0px }\n.bwrightsingle { border-right: solid black 1pt }\n.bwsinglebottom { border-bottom: solid black 1pt }\n.bwtablemarginb { margin-bottom: 10px }\n.bwtopsingle { border-top: solid black 1pt }\n.bwuline { text-decoration: underline }\n.bwvertalignb { vertical-align: bottom }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth10 { width: 10% }\n.bwwidth100 { width: 100% }\n.bwwidth11 { width: 11% }\n.bwwidth13 { width: 13% }\n.bwwidth15 { width: 15% }\n.bwwidth18 { width: 18% }\n.bwwidth21 { width: 21% }\n.bwwidth34 { width: 34% }\n.bwwidth6 { width: 6% }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance<\/b><\/p>\n<p class=\"bwalignc\">\nGlobal Unit Case Volume Grew 3%<\/p>\n<p class=\"bwalignc\">\nNet Revenues Grew 12%;<br \/>\n<br \/>Organic Revenues (Non-GAAP) Grew 10%<\/p>\n<p class=\"bwalignc\">\nOperating Income Grew 19%;<br \/>\n<br \/>Comparable Currency Neutral Operating Income (Non-GAAP) Grew 12%<\/p>\n<p class=\"bwalignc\">\nOperating Margin was 35.0% versus 32.9% in the Prior Year;<br \/>\n<br \/>Comparable Operating Margin (Non-GAAP) was 34.5% versus 33.8% in the Prior Year<\/p>\n<p class=\"bwalignc\">\nEPS Grew 18% to $0.91; Comparable EPS (Non-GAAP) Grew 18% to $0.86<\/p>\n<p>ATLANTA&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe Coca-Cola Company today reported first quarter 2026 results. \u201cWe\u2019ve had a strong start to the year,\u201d said Henrique Braun, CEO of The Coca-Cola Company. \u201cOur performance this quarter reflects our unwavering focus on staying close to the consumer, executing locally and managing complexity. Yet there\u2019s so much more we can do as we navigate a dynamic environment. Our team is motivated by the opportunity to build on the company\u2019s great foundation.\u201d<\/p>\n<p id=\"news-body-cta\">This press release features multimedia. View the full release here: <a href=\"https:\/\/www.businesswire.com\/news\/home\/20260428302424\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260428302424\/en\/<\/a><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Highlights<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwwidth100 bwblockalignc\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Quarterly Performance<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li><b>Revenues:<\/b> Net revenues grew 12% to $12.5 billion, and organic revenues (non-GAAP) grew 10%, driven by an 8% increase in concentrate sales and 2% growth in price\/mix. Concentrate sales were 5 points ahead of unit case volume, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Operating margin: <\/b>Operating margin was 35.0% versus 32.9% in the prior year, and comparable operating margin (non-GAAP) was 34.5% versus 33.8% in the prior year. Operating margin performance included items impacting comparability, as well as currency tailwinds. Comparable operating margin (non-GAAP) expansion was driven by organic revenue (non-GAAP) growth and lower operating expenses, partially offset by higher input costs and an increase in marketing investments.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Earnings per share: <\/b>EPS grew 18% to $0.91, and comparable EPS (non-GAAP) grew 18% to $0.86. EPS performance included the impact of a 6-point currency tailwind, while comparable EPS (non-GAAP) performance included the impact of a 3-point currency tailwind.\n<\/li>\n<li><b>Market share: <\/b>The company gained value share in total nonalcoholic ready-to-drink (\u201cNARTD\u201d) beverages.\n<\/li>\n<li><b>Cash flow:<\/b> Cash flow from operations and free cash flow (non-GAAP) were $2.0 billion and $1.8 billion, respectively.\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwwidth100 bwblockalignc\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Company Updates<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li><b>Executing locally relevant marketing at scale to drive enduring brand value: <\/b>The company is sharpening its focus on leveraging unique insights to deliver impactful marketing during culturally meaningful occasions. In China, reflecting the importance of family and togetherness during Chinese New Year, an AI\u2011enabled campaign inspired by traditional Chinese paper art invited consumers to create personalized digital friend and family portraits through connected Coca-Cola packaging. Across markets observing Ramadan, activations reflected insights around generosity, community and shared meals. In T\u00fcrkiye, a digitally led campaign invited consumers to share recipes that inspired chef\u2011led food donations; in Egypt, the company set a Guinness World Record for the most community meals served in one hour; and in Indonesia, pairing Fanta with Ramadan nights supported at\u2011home and away\u2011from\u2011home celebrations. In Brazil, Sprite delivered double-digit volume growth, supported by brand-led activations tied to the country\u2019s deep cultural connection to Carnival and summer festivals. During March Madness in the United States, the company leveraged consumer passion for sports and live entertainment to activate its \u201cFan Work is Thirsty Work\u201d platform with Coca-Cola and BODYARMOR, supported by the March Madness Music Festival alongside the Men\u2019s Final Four. By leveraging key consumption occasions and local insights to deepen consumer connection, the company increased weekly drinkers and gained value share globally during the quarter.\n<\/li>\n<li><b>Progressing toward more balanced growth by remaining consumer centric: <\/b>Alongside strong brand building, innovation and integrated execution, the company and its bottling partners continue to harness all levers of revenue growth management to drive topline growth. During the quarter, by strengthening brand, price, pack and channel options, the company and its bottling partners provided compelling value and premium offerings to consumers. In the Philippines, single\u2011serve Coca\u2011Cola Zero Sugar packs grew double digits and delivered away\u2011from\u2011home volume growth, while packages bundled with collectible glassware in Thailand helped drive at\u2011home volume growth. In South Africa and India, the company continued to expand its use of ultra\u2011lightweight bottles, which supported volume growth in both markets. In North America, mini-can volume grew high single digits following the launch of single\u2011serve mini\u2011cans in convenience retail stores, and, in the United Kingdom, the launch of a new premium single\u2011serve 500ml \u201cSuperfan\u201d can featuring Premier League\u2011themed packaging contributed to volume growth. Collectively, these actions reflect the company\u2019s heightened focus on harnessing revenue growth management to increase consumer recruitment and deliver more balanced growth over time across both unit case volume and price\/mix.\n<p>\n\u00a0<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignc bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Operating Review <i>\u2013 <\/i>Three Months Ended April 3, 2026<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p class=\"bwalignc\"><b><span class=\"bwuline\">Revenues and Volume<\/span><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b><i>Percent Change<\/i><\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth11\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nConcentrate Sales<sup>1<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth6\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nPrice\/Mix<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth10\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCurrency Impact<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAcquisitions and Divestitures<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth13\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nReported Net Revenues<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth11\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nOrganic Revenues<sup>2<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth11\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nUnit Case Volume<sup>3<\/sup><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>8<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth6 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth18 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>(1)<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth13 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>12<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>10<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>3<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope, Middle East &amp; Africa<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth6 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth18 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth13 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n13<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLatin America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth6 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth18 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth13 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n14<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n9<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNorth America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth6 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth18 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth13 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n12<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n12<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia Pacific<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n10<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth6 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(6)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth18 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth13 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n5<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n5<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth18\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBottling Investments<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth6 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth18 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth13 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n12<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n10<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth11 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p class=\"bwalignc\"><b><span class=\"bwuline\">Operating Income and EPS<\/span><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b><i>Percent Change<\/i><\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nReported<br \/>\n<br \/>Operating<br \/>\n<br \/>Income<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nItems Impacting Comparability<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCurrency Impact<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nComparable<br \/>\n<br \/>Currency Neutral<br \/>\n<br \/>Operating<br \/>\n<br \/>Income<sup>2<\/sup><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>19<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>6<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>1<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>12<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope, Middle East &amp; Africa<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n18<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n12<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLatin America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n15<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n9<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNorth America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n20<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n17<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia Pacific<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(14)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwalignc bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(17)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBottling Investments<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n62<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n12<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n53<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b><i>Percent Change<\/i><\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nReported EPS<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nItems Impacting Comparability<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCurrency Impact<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nComparable Currency Neutral EPS<sup>2<\/sup><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth34\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>18<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>0<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth15\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>3<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwalignc bwwidth21\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>15<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNote: Certain rows may not add due to rounding.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1<\/sup>For Bottling Investments, this represents the percent change in net revenues attributable to the increase (decrease) in unit case volume computed based on total sales (rather than average daily sales) in each of the corresponding periods after considering the impact of structural changes, if any.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>2<\/sup>Organic revenues, comparable currency neutral operating income and comparable currency neutral EPS are non-GAAP financial measures. Refer to the Reconciliation of GAAP and Non-GAAP Financial Measures section.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>3<\/sup>Unit case volume is computed based on average daily sales.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\n\u00a0In addition to the data in the preceding tables, operating results included the following:<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nUnit case volume grew 3%, led by China, the United States and India. Performance included the following:<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistcircle bwmarginl2\">\n<li>\nSparkling soft drinks grew 2%. Trademark Coca-Cola grew 2%, driven by growth in Asia Pacific and North America. Coca-Cola Zero Sugar grew 13%, driven by growth across all geographic operating segments. Diet Coke\/Coca-Cola Light grew 6%, driven by growth in North America. Sparkling flavors grew 3%, driven by growth across all geographic operating segments.<\/p>\n<\/li>\n<li>\nJuice, value-added dairy and plant-based beverages declined 1%, as growth in Asia Pacific was more than offset by a decline in Europe, Middle East &amp; Africa (\u201cEMEA\u201d). Growth in Santa Clara and fairlife was more than offset by the sale of the company\u2019s finished product operations in Nigeria in the fourth quarter of 2025.<\/p>\n<\/li>\n<li>\nWater, sports, coffee and tea grew 5%. Water grew 5%, driven by growth across all geographic operating segments. Sports drinks grew 3%, driven by growth in North America and EMEA. Coffee was even. Tea grew 8%, driven by growth in EMEA, Latin America and Asia Pacific.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nPrice\/mix grew 2%, primarily driven by pricing actions in the marketplace, partially offset by unfavorable mix. Concentrate sales were 5 points ahead of unit case volume, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments.<\/p>\n<\/li>\n<li>\nOperating income grew 19%, which included items impacting comparability and currency tailwinds. Comparable currency neutral operating income (non-GAAP) grew 12%, primarily driven by organic revenue (non-GAAP) growth and lower operating expenses, partially offset by higher input costs and an increase in marketing investments.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Europe, Middle East &amp; Africa<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nUnit case volume grew 2%, primarily driven by growth in sparkling flavors and water, sports, coffee and tea.<\/p>\n<\/li>\n<li>\nPrice\/mix grew 5%, primarily driven by pricing actions in the marketplace and favorable mix. Concentrate sales were 3 points ahead of unit case volume, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments.<\/p>\n<\/li>\n<li>\nOperating income grew 18%, which included items impacting comparability and a currency tailwind. Comparable currency neutral operating income (non-GAAP) grew 12%, primarily driven by organic revenue (non-GAAP) growth, partially offset by an increase in marketing investments.<\/p>\n<\/li>\n<li>\nThe company gained value share in total NARTD beverages, led by share gains in Nigeria and Germany.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Latin America<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nUnit case volume grew 1%, primarily driven by growth in water, sports, coffee and tea as well as sparkling flavors.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nPrice\/mix grew 1%, primarily driven by pricing actions in the marketplace, partially offset by unfavorable mix. Concentrate sales were 6 points ahead of unit case volume, primarily due to six additional days in the quarter.<\/p>\n<\/li>\n<li>\nOperating income grew 15%, which included items impacting comparability and a currency tailwind. Comparable currency neutral operating income (non-GAAP) grew 9%, primarily driven by organic revenue (non-GAAP) growth, partially offset by an increase in marketing investments.<\/p>\n<\/li>\n<li>\nThe company gained value share in total NARTD beverages, led by share gains in Brazil and Argentina.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>North America<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nUnit case volume grew 4%, primarily driven by growth in Trademark Coca-Cola and water, sports, coffee and tea.<\/p>\n<\/li>\n<li>\nPrice\/mix grew 1%, primarily driven by pricing actions in the marketplace, partially offset by unfavorable mix. Concentrate sales were 7 points ahead of unit case volume, primarily due to six additional days in the quarter.<\/p>\n<\/li>\n<li>\nOperating income grew 20%, which included items impacting comparability. Comparable currency neutral operating income (non-GAAP) grew 17%, primarily driven by organic revenue (non-GAAP) growth and lower operating expenses, partially offset by higher input costs and an increase in marketing investments.<\/p>\n<\/li>\n<li>\nThe company gained value share in total NARTD beverages, led by share gains in Trademark Coca-Cola, sparkling flavors and water, sports, coffee and tea.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Asia Pacific<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nUnit case volume grew 5%, driven by growth across all global beverage categories.<\/p>\n<\/li>\n<li>\nPrice\/mix declined 6%, primarily driven by unfavorable mix and affordability initiatives. Concentrate sales were 5 points ahead of unit case volume, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments.<\/p>\n<\/li>\n<li>\nOperating income declined 14%, which included items impacting comparability and a currency tailwind. Comparable currency neutral operating income (non-GAAP) declined 17%, primarily driven by higher input costs and marketing investments.<\/p>\n<\/li>\n<li>\nValue share in total NARTD beverages for the company was even, as gains in Japan and South Korea were offset by declines in India and Vietnam.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Bottling Investments<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nUnit case volume grew 1%, largely due to growth in Africa, partially offset by the impact of refranchising bottling operations.<\/p>\n<\/li>\n<li>\nPrice\/mix declined 1%, primarily driven by unfavorable mix, partially offset by pricing actions in the marketplace.<\/p>\n<\/li>\n<li>\nOperating income grew 62%, which included items impacting comparability, a currency tailwind and the impact of refranchising bottling operations. Comparable currency neutral operating income (non-GAAP) grew 53%, primarily driven by organic revenue (non-GAAP) growth and effective cost management, partially offset by higher input costs.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Outlook<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe 2026 outlook information provided below includes forward-looking non-GAAP financial measures, which management uses in measuring performance. The company is not able to reconcile full year 2026 projected organic revenues (non-GAAP) to full year 2026 projected reported net revenues, full year 2026 projected comparable net revenues (non-GAAP) to full year 2026 projected reported net revenues, full year 2026 projected underlying effective tax rate (non-GAAP) to full year 2026 projected reported effective tax rate, full year 2026 projected comparable currency neutral EPS excluding acquisitions and divestitures (non-GAAP) to full year 2026 projected reported EPS, or full year 2026 projected comparable EPS (non-GAAP) to full year 2026 projected reported EPS without unreasonable efforts because it is not possible to predict with a reasonable degree of certainty the exact timing and exact impact of acquisitions and divestitures throughout 2026; the exact timing and exact amount of items impacting comparability throughout 2026; and the exact impact of fluctuations in foreign currency exchange rates throughout 2026. The unavailable information could have a significant impact on the company\u2019s full year 2026 reported financial results.<\/p>\n<p><b><span class=\"bwuline\">Full Year 2026<\/span><\/b><\/p>\n<p>\nThe company expects to deliver organic revenue (non-GAAP) growth of 4% to 5%. \u2014 No Update<\/p>\n<p>\nFor comparable net revenues (non-GAAP), the company expects a 1% to 2% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 4% headwind from acquisitions and divestitures. This assumes the pending sale of Coca-Cola Beverages Africa (&#8220;CCBA&#8221;) closes during the second half of 2026, subject to regulatory approvals. \u2014 Updated<\/p>\n<p>\nThe company\u2019s underlying effective tax rate (non-GAAP) is estimated to be 19.9%. This does not include the impact of ongoing tax litigation with the U.S. Internal Revenue Service, if the company were not to prevail. \u2014 Updated<\/p>\n<p>\nThe company expects to deliver comparable currency neutral EPS excluding acquisitions and divestitures (non-GAAP) growth of 6% to 7% and comparable EPS (non-GAAP) growth of 8% to 9% versus $3.00 in 2025. \u2014 Updated<\/p>\n<p>\nComparable EPS (non-GAAP) percentage growth is expected to include an approximate 3% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 1% headwind from acquisitions and divestitures. This assumes the pending sale of CCBA closes during the second half of 2026, subject to regulatory approvals. \u2014 No Update<\/p>\n<p>\nThe company expects to generate free cash flow (non-GAAP) of approximately $12.2 billion. This consists of cash flow from operations of approximately $14.4 billion, less capital expenditures of approximately $2.2 billion. \u2014 No Update<\/p>\n<p><b><span class=\"bwuline\">Second Quarter 2026 Considerations<\/span><\/b><\/p>\n<p>\nComparable net revenues (non-GAAP) are expected to include an approximate 1% currency tailwind based on the current rates and including the impact of hedged positions, in addition to an approximate 1% headwind from acquisitions and divestitures.<\/p>\n<p>\nComparable EPS (non-GAAP) percentage growth is expected to include an approximate 3% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 1% headwind from acquisitions and divestitures.<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Notes<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nAll references to growth rate percentages and share compare the results of the period to those of the prior year comparable period, unless otherwise noted.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nAll references to volume and volume percentage changes indicate unit case volume, unless otherwise noted. All volume percentage changes are computed based on average daily sales, unless otherwise noted. \u201cUnit case\u201d means a unit of measurement equal to 192 U.S. fluid ounces of finished beverage (24 eight-ounce servings), with the exception of unit case equivalents for Costa non-ready-to-drink beverage products, which are primarily measured in number of transactions. \u201cUnit case volume\u201d means the number of unit cases (or unit case equivalents) of company beverages directly or indirectly sold by the company and its bottling partners to customers or consumers.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\n\u201cConcentrate sales\u201d represents the amount of concentrates, syrups, beverage bases, source waters and powders\/minerals (in all instances expressed in unit case equivalents) sold by, or used in finished beverages sold by, the company to its bottling partners or other customers. For Costa non-ready-to-drink beverage products, \u201cconcentrate sales\u201d represents the amount of beverages, primarily measured in number of transactions (in all instances expressed in unit case equivalents), sold by the company to customers or consumers. In the reconciliation of reported net revenues, \u201cconcentrate sales\u201d represents the percent change in net revenues attributable to the increase (decrease) in concentrate sales volume for the geographic operating segments after considering the impact of acquisitions and divestitures, if any. For the Bottling Investments operating segment, this represents the percent change in net revenues attributable to the increase (decrease) in unit case volume computed based on total sales (rather than average daily sales) in each of the corresponding periods after considering the impact of structural changes, if any. The Bottling Investments operating segment reflects unit case volume growth for consolidated bottlers only.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\n\u201cPrice\/mix\u201d represents the change in net operating revenues caused by factors such as price changes, the mix of products and packages sold, and the mix of channels and geographic territories where the sales occurred.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nFirst quarter 2026 financial results were impacted by six additional days as compared to first quarter 2025, and fourth quarter 2026 financial results will be impacted by six fewer days as compared to fourth quarter 2025. Unit case volume results for the quarters are not impacted by the variances in days due to the average daily sales computation referenced above.<\/p>\n<\/li>\n<\/ul>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Conference Call<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nThe company is hosting a conference call with investors and analysts to discuss first quarter 2026 operating results today, April 28, 2026, at 8:30 a.m. ET. The company invites participants to listen to a live webcast of the conference call on the company\u2019s website, <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.coca-colacompany.com&amp;esheet=54523970&amp;newsitemid=20260428302424&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.coca-colacompany.com&amp;index=1&amp;md5=849eedb061f795a83d1a611b7c974e15\">http:\/\/www.coca-colacompany.com<\/a>, in the \u201cInvestors\u201d section. An audio replay in downloadable digital format and a transcript of the call will be available on the website within 24 hours following the call. Further, the \u201cInvestors\u201d section of the website includes certain supplemental information and a reconciliation of non-GAAP financial measures to the company\u2019s results as reported under GAAP, which may be used during the call when discussing financial results.<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260428302424r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20260428302424\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260428302424\/en\/<\/a><\/span><\/p>\n<p><span class=\"bwuline\">Investors and Analysts<\/span>: Todd Beiger, <a rel=\"nofollow\" href=\"mailto:koinvestorrelations@coca-cola.com\">koinvestorrelations@coca-cola.com<br \/>\n<\/a><br \/><span class=\"bwuline\">Media<\/span>: Scott Leith, <a rel=\"nofollow\" href=\"mailto:sleith@coca-cola.com\">sleith@coca-cola.com<\/a><\/p>\n<p><b>KEYWORDS:<\/b> Georgia United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Restaurant\/Bar Food\/Beverage Retail Supermarket Convenience Store<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\">\n<tr>\n<td><font face=\"Arial\" size=\"2\"><b>Logo<\/b><\/font><\/td>\n<\/tr>\n<tr>\n<td><img decoding=\"async\" src=\"https:\/\/mms.businesswire.com\/media\/20260428302424\/en\/1571658\/3\/Coca-Cola_primary_corporate_mark.jpg\" alt=\"Logo\" \/><\/td>\n<\/tr>\n<tr>\n<td><font face=\"Arial\" size=\"2\"><\/font><\/td>\n<\/tr>\n<\/table>\n","protected":false},"excerpt":{"rendered":"<p>Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance Global Unit Case Volume Grew 3% Net Revenues Grew 12%; Organic Revenues (Non-GAAP) Grew 10% Operating Income Grew 19%; Comparable Currency Neutral Operating Income (Non-GAAP) Grew 12% Operating Margin was 35.0% versus 32.9% in the Prior Year; Comparable Operating Margin (Non-GAAP) was 34.5% versus 33.8% in the Prior Year EPS Grew 18% to $0.91; Comparable EPS (Non-GAAP) Grew 18% to $0.86 ATLANTA&#8211;(BUSINESS WIRE)&#8211; The Coca-Cola Company today reported first quarter 2026 results. \u201cWe\u2019ve had a strong start to the year,\u201d said Henrique Braun, CEO of The Coca-Cola Company. \u201cOur performance this quarter reflects our unwavering focus on staying close to the consumer, executing locally and managing complexity. Yet there\u2019s &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-955195","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance Global Unit Case Volume Grew 3% Net Revenues Grew 12%; Organic Revenues (Non-GAAP) Grew 10% Operating Income Grew 19%; Comparable Currency Neutral Operating Income (Non-GAAP) Grew 12% Operating Margin was 35.0% versus 32.9% in the Prior Year; Comparable Operating Margin (Non-GAAP) was 34.5% versus 33.8% in the Prior Year EPS Grew 18% to $0.91; Comparable EPS (Non-GAAP) Grew 18% to $0.86 ATLANTA&#8211;(BUSINESS WIRE)&#8211; The Coca-Cola Company today reported first quarter 2026 results. \u201cWe\u2019ve had a strong start to the year,\u201d said Henrique Braun, CEO of The Coca-Cola Company. \u201cOur performance this quarter reflects our unwavering focus on staying close to the consumer, executing locally and managing complexity. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/","og_locale":"en_US","og_type":"article","og_title":"Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance - Market Newsdesk","og_description":"Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance Global Unit Case Volume Grew 3% Net Revenues Grew 12%; Organic Revenues (Non-GAAP) Grew 10% Operating Income Grew 19%; Comparable Currency Neutral Operating Income (Non-GAAP) Grew 12% Operating Margin was 35.0% versus 32.9% in the Prior Year; Comparable Operating Margin (Non-GAAP) was 34.5% versus 33.8% in the Prior Year EPS Grew 18% to $0.91; Comparable EPS (Non-GAAP) Grew 18% to $0.86 ATLANTA&#8211;(BUSINESS WIRE)&#8211; The Coca-Cola Company today reported first quarter 2026 results. \u201cWe\u2019ve had a strong start to the year,\u201d said Henrique Braun, CEO of The Coca-Cola Company. \u201cOur performance this quarter reflects our unwavering focus on staying close to the consumer, executing locally and managing complexity. Yet there\u2019s &hellip; Continue reading \"Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/","og_site_name":"Market Newsdesk","article_published_time":"2026-04-28T10:58:05+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260428302424r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"14 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance","datePublished":"2026-04-28T10:58:05+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/"},"wordCount":2731,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/#primaryimage"},"thumbnailUrl":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20260428302424r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-first-quarter-2026-results-and-updates-full-year-guidance\/","name":"Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance - 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