{"id":985411,"date":"2026-07-28T06:58:12","date_gmt":"2026-07-28T10:58:12","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-second-quarter-2026-results-and-raises-full-year-guidance\/"},"modified":"2026-07-28T06:58:12","modified_gmt":"2026-07-28T10:58:12","slug":"coca-cola-reports-second-quarter-2026-results-and-raises-full-year-guidance","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-second-quarter-2026-results-and-raises-full-year-guidance\/","title":{"rendered":"Coca-Cola Reports Second Quarter 2026 Results and Raises Full Year Guidance"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }\n.bwalignl { text-align: left }\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.bwpadl1 { padding-left: 5px }\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.bwvertalignm { vertical-align: middle }\n.bwvertalignt { vertical-align: top }\n.bwwidth1 { width: 1% }\n.bwwidth10 { width: 10% }\n.bwwidth100 { width: 100% }\n.bwwidth12 { width: 12% }\n.bwwidth28 { width: 28% }\n.bwwidth30 { width: 30% }\n.bwwidth35 { width: 35% }\n.bwwidth52 { width: 52% }\n.bwwidth99 { width: 99% }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 Second Quarter 2026 Results and Raises Full Year Guidance<\/b><\/p>\n<p class=\"bwalignc\">\nGlobal Unit Case Volume Grew 5%<\/p>\n<p class=\"bwalignc\">\nNet Revenues Grew 7%;<br \/>\n<br \/>Organic Revenues (Non-GAAP) Grew 6%<\/p>\n<p class=\"bwalignc\">\nOperating Income Grew 9%;<br \/>\n<br \/>Comparable Currency Neutral Operating Income (Non-GAAP) Grew 6%<\/p>\n<p class=\"bwalignc\">\nOperating Margin was 34.9% versus 34.1% in the Prior Year;<br \/>\n<br \/>Comparable Operating Margin (Non-GAAP) was 35.6% versus 34.7% in the Prior Year<\/p>\n<p class=\"bwalignc\">\nEPS Grew 16% to $1.03; Comparable EPS (Non-GAAP) Grew 11% to $0.97<\/p>\n<p>ATLANTA&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nThe Coca-Cola Company today reported second quarter 2026 results. \u201cWe delivered another strong quarter by staying close to the changing needs of our consumers and customers,\u201d said Henrique Braun, CEO of The Coca-Cola Company. \u201cWhile we continue to see a dynamic consumer landscape, we leveraged our powerful brands and system to gain value share, delivering revenue, profit and earnings growth while also investing for the long term.\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\/20260728919215\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260728919215\/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 bwblockalignl bwwidth100\">\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 7% to $13.4 billion, and organic revenues (non-GAAP) grew 6%, driven by a 4% increase in concentrate sales and 2% growth in price\/mix. Concentrate sales were 1 point behind unit case volume due to the timing of concentrate shipments.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Operating margin: <\/b>Operating margin was 34.9% versus 34.1% in the prior year, and comparable operating margin (non-GAAP) was 35.6% versus 34.7% 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, lower operating expenses and currency tailwinds, partially offset by higher input costs and an increase in marketing investments which was partially due to timing.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Earnings per share: <\/b>EPS grew 16% to $1.03, and comparable EPS (non-GAAP) grew 11% to $0.97. EPS performance included the impact of a 4-point currency tailwind, while comparable EPS (non-GAAP) performance included the impact of a 2-point currency tailwind.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Market share: <\/b>The company gained value share in total nonalcoholic ready-to-drink (\u201cNARTD\u201d) beverages.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Cash flow:<\/b> Year-to-date cash flow from operations and free cash flow (non-GAAP) were $7.5 billion and $6.9 billion, respectively.\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>Company Updates<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li><b>Activating the FIFA World Cup\u2122 behind a single, globally connected campaign: <\/b>The FIFA World Cup\u2122 provided a unique opportunity for the company to activate a campaign at unprecedented scale across more than 180 markets. Before the start of the tournament, the company\u2019s FIFA World Cup\u2122 Trophy Tour made more than 70 stops across approximately 30 markets and reached approximately 700,000 fans. Experiential activations, customer partnerships and retail programs spanning more than 20 million retail outlets also built consumer connections. Digital and social activations generated more than 60 billion impressions and over 9 billion views, supported by more than 2,500 content creators, helping Trademark Coca\u2011Cola become the #1 brand by share of voice during the tournament and leading to record-setting engagement with Powerade. The company also leveraged connected packaging to engage more than 80 million consumers and collect more than 25 million first-party data records, which can be used to tailor future marketing campaigns. By combining global scale with local execution, the company\u2019s FIFA World Cup 2026\u2122 campaign contributed to a portion of both 5% volume growth for Trademark Coca\u2011Cola and 8% volume growth for Powerade during the quarter.\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li><b>Scaling consumer-led innovation to create new sources of growth: <\/b>The company is establishing innovation hubs across each of its operating units to translate consumer insights into locally relevant innovations to capture more drinking occasions. This approach allows the company to lift and shift successful innovations faster across markets. One example is Coca-Cola Zero Zero, which has redesigned packaging that better connects with consumers and meets demand for great taste with zero sugar, zero calories and zero caffeine. The offering is being extended to markets across Asia Pacific and Latin America following strong results and consumer reception in Europe. In China, the company adapted its U.S. Sprite+Tea innovation with a lemon-forward flavor profile that resonates with local Chinese consumers and supported Sprite\u2019s volume growth during the quarter. The company is also expanding functional offerings to meet evolving consumer needs, including a sparkling sports drink, BODYARMOR FIT, which combines zero sugar with electrolytes and caffeine and provides metabolism support. In aggregate, innovation contributed to the company\u2019s 5% volume growth during the quarter, reflecting its focus on improving speed to market and making innovation work harder across more brands and markets.\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>Operating Review <i>\u2013 <\/i>Three Months Ended July 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 bwwidth28 bwpadl1\" 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 bwwidth10 bwalignc\" 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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nPrice\/Mix<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCurrency Impact<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAcquisitions and Divestitures<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth10 bwalignc\" 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 bwwidth10 bwalignc\" 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 bwwidth10 bwalignc\" 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 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/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>4<\/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>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>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>(1)<\/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>7<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>6<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>5<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope, Middle East &amp; Africa<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 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\">\n1<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/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 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLatin America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 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\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n11<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n16<\/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 bwwidth10 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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNorth America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia Pacific<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(9)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBottling Investments<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8<\/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 bwwidth10 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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n5<\/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 bwwidth52 bwpadl1\" 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 bwwidth12 bwalignc\" 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 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nItems Impacting Comparability<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCurrency Impact<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nComparable Currency Neutral Operating Income<sup>2<\/sup><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>9<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 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 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>6<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope, Middle East &amp; Africa<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(5)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLatin America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n23<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNorth America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(8)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n12<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia Pacific<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n1<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBottling Investments<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n55<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(24)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n75<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b><i>Percent Change<\/i><\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nReported EPS<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nItems Impacting Comparability<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCurrency Impact<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth12 bwalignc\" 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 bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>16<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>5<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>9<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"2\" rowspan=\"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 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth99\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFor 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 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>2<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth99\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOrganic 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 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>3<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth99\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnit case volume is computed based on average daily sales.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p>\nIn addition to the data in the preceding tables, operating results included the following:\n<\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth100\" rowspan=\"1\" colspan=\"1\"><b>Consolidated<\/b><\/td>\n<\/tr>\n<\/table>\n<ul class=\"bwlistdisc\">\n<li>\nUnit case volume grew 5%, led by India, China, the United States and Brazil. Performance included the following:<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistcircle bwmarginl2\">\n<li>\nSparkling soft drinks grew 4%. Trademark Coca-Cola grew 5%, driven by growth across all geographic operating segments. Coca-Cola Zero Sugar grew 16%, driven by growth across all geographic operating segments. Diet Coke\/Coca-Cola Light grew 7%, driven by growth in North America and Asia Pacific. Sparkling flavors grew 4%, primarily driven by growth in Asia Pacific.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistcircle bwmarginl2\">\n<li>\nJuice, value-added dairy and plant-based beverages grew 2%, driven by growth in Asia Pacific and North America.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistcircle bwmarginl2\">\n<li>\nWater, sports, coffee and tea grew 6%. Water grew 6%, driven by growth in Asia Pacific, Europe, Middle East &amp; Africa (\u201cEMEA\u201d) and Latin America. Sports drinks grew 5%, driven by growth in North America, EMEA and Asia Pacific. Coffee declined 2%, primarily driven by a decline in Asia Pacific. Tea grew 6%, 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 1 point behind unit case volume due to the timing of concentrate shipments.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nOperating income grew 9%, which included items impacting comparability and currency tailwinds. Comparable currency neutral operating income (non-GAAP) grew 6%, primarily driven by organic revenue (non-GAAP) growth and lower operating expenses, partially offset by higher input costs and an increase in marketing investments which was partially due to timing.<\/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 4%, primarily driven by growth in Trademark Coca-Cola and water, sports, coffee and tea.<\/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 3 points behind unit case volume due to the timing of concentrate shipments.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nOperating income declined 1%, which included items impacting comparability and a currency tailwind. Comparable currency neutral operating income (non-GAAP) declined 5%, primarily driven by an increase in marketing investments and higher operating expenses.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nThe company gained value share in total NARTD beverages, led by share gains in Germany and Morocco.<\/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 3%, primarily driven by growth in Trademark Coca-Cola and water, sports, coffee and tea.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nPrice\/mix grew 3%, primarily driven by pricing actions in the marketplace, partially offset by unfavorable mix. Concentrate sales were 2 points behind unit case volume due to the timing of concentrate shipments.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nOperating income grew 23%, which included items impacting comparability and a currency tailwind. Comparable currency neutral operating income (non-GAAP) grew 4%, primarily driven by organic revenue (non-GAAP) growth and lower operating expenses, partially offset by an increase in marketing investments.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nThe company gained value share in total NARTD beverages, led by share gains in Brazil and Mexico.<\/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 3%, primarily driven by growth in Trademark Coca-Cola and juice, value-added dairy and plant-based beverages.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nPrice\/mix grew 4%, primarily driven by pricing actions in the marketplace. Concentrate sales were in-line with unit case volume.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nOperating income grew 4%, which included items impacting comparability. 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<ul class=\"bwlistdisc\">\n<li>\nThe company gained value share in total NARTD beverages, led by share gains in Trademark Coca-Cola and juice, value-added dairy and plant-based beverages.<\/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 8%, primarily driven by growth in sparkling flavors and Trademark Coca-Cola.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nPrice\/mix declined 9%, primarily driven by unfavorable mix and affordability initiatives. Concentrate sales were 3 points ahead of unit case volume due to the timing of concentrate shipments.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nOperating income grew 1%, which included items impacting comparability and a currency headwind. Comparable currency neutral operating income (non-GAAP) was even, as organic revenue (non-GAAP) growth and lower operating expenses were offset by higher input costs and an increase in marketing investments.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nThe company lost value share in total NARTD beverages, as gains in Japan and China were more than offset by a loss in India.<\/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 5%, largely due to growth in India.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nPrice\/mix grew 2%, primarily driven by pricing actions in the marketplace and favorable mix.<\/p>\n<\/li>\n<\/ul>\n<ul class=\"bwlistdisc\">\n<li>\nOperating income grew 55%, which included items impacting comparability, a currency headwind and the impact of refranchising bottling operations. Comparable currency neutral operating income (non-GAAP) grew 75%, primarily driven by organic revenue (non-GAAP) growth, 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>Operating Review \u2013 Six Months Ended July 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 bwwidth28 bwpadl1\" 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 bwwidth10 bwalignc\" 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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nPrice\/Mix<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCurrency Impact<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nAcquisitions and Divestitures<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth10 bwalignc\" 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 bwwidth10 bwalignc\" 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 bwwidth10 bwalignc\" 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 bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/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>6<\/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>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>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>(1)<\/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>9<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>8<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>4<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope, Middle East &amp; Africa<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7<\/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 bwwidth10 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 bwrightsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLatin America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n4<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n8<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n15<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNorth America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 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 bwleftsingle bwpadl0 bwpadr0 bwwidth10 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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia Pacific<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(8)<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwwidth28 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBottling Investments<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n10<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(2)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth10 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 bwpadl0 bwpadr0 bwpadb3 bwwidth10 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 bwwidth10 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/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 bwwidth52 bwpadl1\" 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 bwwidth12 bwalignc\" 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 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nItems Impacting Comparability<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCurrency Impact<\/p>\n<\/td>\n<td class=\"bwvertalignb bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nComparable Currency Neutral Operating Income<sup>2<\/sup><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>14<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 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 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>2<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>9<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nEurope, Middle East &amp; Africa<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nLatin America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n19<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n6<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n7<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nNorth America<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n11<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(3)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n14<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nAsia Pacific<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(6)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n3<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(1)<\/p>\n<\/td>\n<td class=\"bwvertalignb bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n(8)<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nBottling Investments<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n60<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n60<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n\u00a0<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b><i>Percent Change<\/i><\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nReported EPS<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nItems Impacting Comparability<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nCurrency Impact<\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth12 bwalignc\" 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 bwwidth52 bwpadl1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><b>Consolidated<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>17<\/b><\/p>\n<\/td>\n<td class=\"bwvertalignb bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth12 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 bwwidth12 bwalignc\" 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 bwwidth12 bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\"><b>12<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignt bwpadl0\" colspan=\"2\" rowspan=\"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 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>1<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth99\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nFor 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 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>2<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth99\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nOrganic 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 bwwidth1\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>3<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignt bwwidth99\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nUnit case volume is computed based on average daily sales.<\/p>\n<\/td>\n<\/tr>\n<\/table>\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 Guidance<\/span><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwvertalignb bwsinglebottom bwpadl0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n\u00a0<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Current<\/b><\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\"><b>Prior<\/b><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nOrganic revenues (non-GAAP)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nApprox. 5% growth<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n4% to 5% growth<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nComparable net revenues<\/p>\n<p class=\"bwalignc bwcellpmargin\">\n(non-GAAP)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<ul class=\"bwlistdisc\">\n<li>\nApprox. 1% currency tailwind<sup>1<\/sup><\/li>\n<li>\n2% to 3% headwind from acquisitions and divestitures<sup>2<\/sup><\/li>\n<\/ul>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<ul class=\"bwlistdisc\">\n<li>\n1% to 2% currency tailwind<sup>1<\/sup><\/li>\n<li>\nApprox. 4% headwind from acquisitions and divestitures<sup>2<\/sup><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nUnderlying effective tax rate<\/p>\n<p class=\"bwalignc bwcellpmargin\">\n(non-GAAP)<sup>3<\/sup><\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwpadr0 bwpadb3 bwwidth35 bwalignc bwvertalignm\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n19.9%<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwpadr0 bwpadb3 bwwidth35 bwvertalignm bwalignc\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignc\">\n19.9%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nComparable currency neutral EPS<br \/>\n<br \/>excluding acquisitions and<br \/>\n<br \/>divestitures (non-GAAP)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n7% to 8% growth<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\n6% to 7% growth<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nComparable EPS (non-GAAP)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n9% to 10% growth, which includes:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nApprox. 3% currency tailwind<sup>1<\/sup><\/li>\n<li>\nApprox. 1% headwind from acquisitions and divestitures<sup>2<\/sup><\/li>\n<\/ul>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\n8% to 9% growth, which includes:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nApprox. 3% currency tailwind<sup>1<\/sup><\/li>\n<li>\nApprox. 1% headwind from acquisitions and divestitures<sup>2<\/sup><\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nFree cash flow (non-GAAP)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nApprox. $12.4 billion, consisting of:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nApprox. $14.6 billion of cash from operations<\/p>\n<\/li>\n<li>\nApprox. $2.2 billion of capital expenditures<\/p>\n<\/li>\n<\/ul>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nApprox. $12.2 billion, consisting of:<\/p>\n<ul class=\"bwlistdisc\">\n<li>\nApprox. $14.4 billion of cash from operations<\/p>\n<\/li>\n<li>\nApprox. $2.2 billion of capital expenditures<\/p>\n<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/table>\n<p><b><span class=\"bwuline\">Third Quarter 2026 Considerations<\/span><\/b><\/p>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl bwwidth100\">\n<tr>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwpadl0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nComparable net revenues<\/p>\n<p class=\"bwalignc bwcellpmargin\">\n(non-GAAP)<\/p>\n<\/td>\n<td class=\"bwtopsingle bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<ul class=\"bwlistdisc\">\n<li>\nApprox. 1% currency tailwind<sup>1<\/sup><\/li>\n<li>\nApprox. 1% headwind from acquisitions and divestitures<sup>2<\/sup><\/li>\n<\/ul>\n<\/td>\n<td class=\"bwwidth35\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<tr>\n<td class=\"bwsinglebottom bwleftsingle bwpadl0 bwwidth30\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwalignc bwcellpmargin\">\nComparable EPS (non-GAAP)<\/p>\n<\/td>\n<td class=\"bwsinglebottom bwleftsingle bwrightsingle bwpadl0 bwwidth35\" rowspan=\"1\" colspan=\"1\">\n<ul class=\"bwlistdisc\">\n<li>\nApprox. 3% currency tailwind<sup>1<\/sup><\/li>\n<li>\nMinimal headwind from acquisitions and divestitures<sup>2<\/sup><\/li>\n<\/ul>\n<\/td>\n<td class=\"bwwidth35\" rowspan=\"1\" colspan=\"1\" \/><\/tr>\n<\/table>\n<table cellspacing=\"0\" class=\"bwtablemarginb bwblockalignl\">\n<tr>\n<td class=\"bwpadl0 bwpadr0 bwalignl bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin bwalignl\"><sup>1<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCurrent column based on current rates and including the impact of hedged positions. Prior column based on prior rates and including the impact of hedge positions.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>2<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nCurrent column assumes the pending sale of our bottling operations in Africa closes towards the end of the third quarter or during the fourth quarter of 2026 and prior column assumes the pending sale of our bottling operations in Africa closes during the second half of 2026. Closing is subject to regulatory approvals.<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td class=\"bwvertalignt bwpadl0\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\"><sup>3<\/sup><\/p>\n<\/td>\n<td class=\"bwvertalignt\" rowspan=\"1\" colspan=\"1\">\n<p class=\"bwcellpmargin\">\nThis does not include the impact of ongoing tax litigation with the U.S. Internal Revenue Service, if the company were not to prevail.<\/p>\n<\/td>\n<\/tr>\n<\/table>\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 second quarter 2026 operating results today, July 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=54578064&amp;newsitemid=20260728919215&amp;lan=en-US&amp;anchor=http%3A%2F%2Fwww.coca-colacompany.com&amp;index=1&amp;md5=39d78273abfa567e559e25e6ba256b0d\">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=20260728919215r1&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\/20260728919215\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20260728919215\/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\/20260728919215\/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 Second Quarter 2026 Results and Raises Full Year Guidance Global Unit Case Volume Grew 5% Net Revenues Grew 7%; Organic Revenues (Non-GAAP) Grew 6% Operating Income Grew 9%; Comparable Currency Neutral Operating Income (Non-GAAP) Grew 6% Operating Margin was 34.9% versus 34.1% in the Prior Year; Comparable Operating Margin (Non-GAAP) was 35.6% versus 34.7% in the Prior Year EPS Grew 16% to $1.03; Comparable EPS (Non-GAAP) Grew 11% to $0.97 ATLANTA&#8211;(BUSINESS WIRE)&#8211; The Coca-Cola Company today reported second quarter 2026 results. \u201cWe delivered another strong quarter by staying close to the changing needs of our consumers and customers,\u201d said Henrique Braun, CEO of The Coca-Cola Company. \u201cWhile we continue to see a dynamic consumer landscape, we leveraged our &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/coca-cola-reports-second-quarter-2026-results-and-raises-full-year-guidance\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Coca-Cola Reports Second Quarter 2026 Results and Raises 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-985411","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.1 - 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