Coca-Cola Beats Q2 Estimates, Raises Full-Year Guidance

Coca-Cola reported robust second-quarter financial results on Tuesday, July 28, 2026, exceeding analyst expectations and raising its full-year outlook, a performance that sent its stock to a record high. The beverage giant posted adjusted earnings per share of $0.97 on revenue of $13.38 billion, beating estimates of $0.93 per share and $13.16 billion in revenue. Net income for the quarter was $4.43 billion, up from $3.81 billion a year earlier.

The company attributed its strong performance to a 6% increase in organic revenue and a 5% rise in global unit case volume. Key growth drivers included strategic pricing, favorable weather in some markets, and a successful global marketing campaign tied to the FIFA World Cup. The company noted its flagship Coca-Cola brand saw its strongest volume growth in 17 years, excluding the pandemic recovery period, while Coca-Cola Zero Sugar volume surged 16%.

In response to the results, Coca-Cola raised its financial guidance for 2026. The company now expects organic revenue growth of about 5%, at the high end of its prior forecast, and adjusted earnings per share growth of 9% to 10%, up from a previous range of 8% to 9%. Free cash flow is...