The strong Q1 beat and raised guidance confirm accelerating operational momentum, with broad-based volume growth and margin expansion. The 3% unit case volume growth (vs. flat in FY2025) and 13% Coca-Cola Zero Sugar growth indicate successful brand execution. The raised comparable EPS guidance to 8%-9% provides a clear catalyst. Watch for potential headwinds from the pending CCBA sale and ongoing IRS tax litigation, but the underlying business trends are clearly positive.
Price Chart
Executive Summary
Coca-Cola reported a strong Q1 2026 beat, with EPS of $0.91 (GAAP) vs. $0.81 consensus and revenue of $12.47B vs. $12.23B consensus, driven by 12% reported net revenue growth and 10% organic growth. The company also raised its full-year 2026 comparable EPS growth guidance to 8%-9% from 7%-8%, signaling accelerating operational momentum despite currency headwinds.
Key Financial Metrics
Key Facts
- Q1 2026 GAAP EPS $0.91 vs. consensus $0.81 (beat by ~12.3%)
- Q1 2026 revenue $12.47B vs. consensus $12.23B (beat by ~2.0%)
- Revenue grew 12% YoY to $12.47B; organic revenue (non-GAAP) grew 10%
- Operating income grew 19% YoY; comparable currency-neutral operating income grew 12%
- Comparable EPS (non-GAAP) grew 18% YoY to $0.86
- Full-year 2026 comparable EPS growth guidance raised to 8%-9% from prior 7%-8%
- Underlying effective tax rate guidance lowered to 19.9% from 20.9%
- Global unit case volume grew 3%, led by China, US, and India
- Coca-Cola Zero Sugar volume grew 13% globally
- Operating margin expanded to 35.0% from 32.9% YoY
- Cash flow from operations was $2.0B; free cash flow was $1.8B
Financial Impact
Not specified
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 6 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001628280-26-027723 |
| Document: ko-20260428.htm | 0001628280-26-027723 |
| Document: 0001628280-26-027723-index-headers.html | 0001628280-26-027723 |
| Document: 0001628280-26-027723-index.html | 0001628280-26-027723 |
| Document: 0001628280-26-027723.txt | 0001628280-26-027723 |
| 8-K Data (Synthetic) | 0001628280-26-027723 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 27, 2026 1d ago | 8-K | $91.18 $91.73 | ▲ +0.60% | ▲ +0.26% | $91.73 (+0.60%) |
Oct 16, 2026 12d ago | Institutional Cluster | $93.43 $93.47 | ▲ +0.04% | ▼ −0.29% | $91.73 (−1.82%) |
Aug 24, 2026 9w ago | Insider Cluster | $91.99 $91.64 | ▼ −0.38% | ▼ −0.70% | $91.73 (−0.28%) |
Aug 11, 2026 11w ago | Insider Cluster | $86.48 $86.71 | ▲ +0.27% | ▲ +0.02% | $91.73 (+6.07%) |
Aug 7, 2026 11w ago | Insider Cluster | $87.05 $86.87 | ▼ −0.21% | ▼ −0.18% | $91.73 (+5.38%) |
Aug 3, 2026 12w ago | Insider Cluster | $86.86 $86.55 | ▼ −0.36% | ▼ −2.13% | $91.73 (+5.61%) |
Jul 30, 2026 12w ago | Insider Cluster | $88.49 $87.56 | ▼ −1.06% | ▼ −1.72% | $91.73 (+3.66%) |
Jul 28, 2026 13w ago | 8-K | $88.27 $89.08 | ▲ +0.92% | ▲ +2.46% | $91.73 (+3.92%) |
Jul 16, 2026 14w ago | 8-K | $81.56 $82.12 | ▼ −0.69% | ▼ −0.85% | $91.73 (−12.47%) |
Jun 25, 2026 17w ago | 8-K | $82.63 $82.65 | ▲ +0.02% | ▼ −1.62% | $91.73 (+11.01%) |
US Market Status
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