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Coca-Cola (KO) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Jul 28, 2026

Before Open (Confirmed)

Period Ending

2026 (Q2)

Consensus EPS Forecast

0.93

Last Year’s EPS

0.87

Same Quarter Last Year

Analyst Consensus

Strong Buy

Based on 17 Analysts Ratings

Earnings Call Summary

Q1 2026

Earnings Call Date:Apr 28, 2026|

% Change Since:

Earnings Call Sentiment|Positive

The call presented a generally strong operational and financial start to 2026: volume growth across markets, a notable 10% organic revenue increase, 18% EPS growth in Q1, operating margin expansion and an upgraded full-year EPS outlook. These positive results are tempered by gross margin pressure driven by commodity and inventory phasing (notably in APAC), regional disruptions (Middle East), production constraints in select North American SKUs, and divestiture and timing headwinds. Management emphasized agility, consumer-centric execution and system-level levers to manage cost and mix, and reiterated confidence in delivering updated guidance despite macro and geopolitical uncertainties.

Company Guidance

Management reaffirmed updated 2026 guidance, calling for organic revenue growth of 4–5%, comparable currency‑neutral EPS growth excluding acquisitions/divestitures of 6–7%, and comparable EPS growth of 8–9% versus $3 in 2025 (up from prior 7–8%) driven in part by a lower underlying effective tax rate now expected at 19.9% (‑1 point). They expect divestitures (primarily the potential CCBA sale) to be an ~4‑point headwind to comparable net revenues and ~1 point to comparable EPS, anticipate an approximate 1–2 point currency tailwind to comparable net revenues and ~3 points to comparable EPS, note Q4 will have 6 fewer days (Easter gave ~0.5 point benefit to Q1) and expect concentrate shipments to realign with unit cases by a couple points in Q2. Quarter highlights cited: organic revenues +10%, unit cases +3%, price/mix +2%, comparable gross margin down ~30 bps, comparable operating margin up ~70 bps, comparable Q1 EPS $0.86 (+18% YoY), free cash flow ≈ $1.8B and net debt/EBITDA ~1.6x.

Volume Growth and Market Share Momentum

Global unit case growth of 3% and the company extended its streak of gaining overall value share for the 20th consecutive quarter; volume grew across all segments and operating units.

Strong Top-Line Performance

Organic revenue growth of 10% in Q1 (John Murphy) with concentrate sales ~5 points ahead of unit case sales due to six extra days in the quarter and shipment timing effects.

Earnings and Cash Generation

First-quarter comparable EPS of $0.86, an 18% increase year-over-year; free cash flow approximately $1.8 billion, an increase versus prior year.

Operating Margin Expansion

Comparable operating margin increased by approximately 70 basis points, reflecting operating expense efficiencies while continuing brand investment.

Upgraded Full-Year Earnings Guidance and Tax Benefit

Updated 2026 outlook: organic revenue growth expected 4%–5%; comparable EPS growth now expected 8%–9% versus $3 in 2025 (raised from prior 7%–8%), driven in part by a lower underlying effective tax rate now expected at 19.9% (a ~1 point reduction).

Strong Balance Sheet Positioning

Net debt leverage of 1.6x EBITDA, below the company's target range of 2.0–2.5x, providing capital allocation optionality while awaiting a court decision on an IRS dispute.

Commercial Execution and Distribution Expansion

System added over 600,000 outlets and placed over 340,000 units of cold drink equipment in the past year; innovations and activations (e.g., Coca-Cola Zero-Zero relaunch in Europe, Cherry portfolio, FIFA World Cup activations) contributed meaningfully to volume and retail sales growth.

Regional Wins and Brand Momentum

North America, Latin America and EMEA reported volume, revenue and profit growth with share gains; Sprite and Fuze Tea showed strong global volume growth (Fuze Tea grew double-digits); trademark Coca-Cola led the industry in retail sales growth.

Coca-Cola (KO) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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KO Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Jul 28, 2026	2026 (Q2)	0.93 / -	0.87	―	―	―
Apr 28, 2026	2026 (Q1)	0.81 / 0.86	0.73	17.81% (+0.13)
Feb 10, 2026	2025 (Q4)	0.56 / 0.58	0.55	5.45% (+0.03)
Oct 21, 2025	2025 (Q3)	0.78 / 0.82	0.77	6.49% (+0.05)
Jul 22, 2025	2025 (Q2)	0.83 / 0.87	0.84	3.57% (+0.03)
Apr 29, 2025	2025 (Q1)	0.71 / 0.73	0.72	1.39% (+0.01)
Feb 11, 2025	2024 (Q4)	0.52 / 0.55	0.49	12.24% (+0.06)
Oct 23, 2024	2024 (Q3)	0.74 / 0.77	0.74	4.05% (+0.03)
Jul 23, 2024	2024 (Q2)	0.81 / 0.84	0.78	7.69% (+0.06)
Apr 30, 2024	2024 (Q1)	0.70 / 0.72	0.68	5.88% (+0.04)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

KO Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Apr 28, 2026	$74.96	$77.85	+3.86%
Feb 10, 2026	$76.94	$75.80	-1.49%
Oct 21, 2025	$67.06	$69.79	+4.06%
Jul 22, 2025	$68.14	$67.74	-0.59%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.