Coca-Cola delivers solid Q2 2026 with 5% volume growth and higher guidance
Jul 28, 2026, 6:58 AM EDT1 sourcesAI-analyzed
Why it may matterVerify against the original reporting
Strong beat across revenue, margin, and EPS with higher 2026 organic growth target; World Cup marketing adds optionality to growth cadence; Africa bottling sale could alter scope; relief from currency tailwinds; history suggests KO tends to gap higher on solid earnings and guidance upgrades.
AI summary
What happened, with direct paths to the underlying reporting
KO posted a solid Q2 2026, with net revenues up 7% to $13.4B and organic growth of 6%. Unit case volume rose 5% across key markets, supported by a higher operating margin (GAAP 34.9%; non-GAAP 35.6%). EPS reached $1.03, with non-GAAP at $0.97. FIFA World Cup activations and ongoing product innovation underpin the 2026 organic revenue guidance of around 5%.
Net revenues up 7% to $13.4B; organic revenues up 6%.
Unit case volume rose 5%, led by India, China, U.S. and Brazil.
EPS up 16% to $1.03; comparable EPS non-GAAP up 11% to $0.97.
Operating margin GAAP 34.9%; comparable non-GAAP 35.6%, up from prior year.
World Cup campaign supported 5% volume growth; strong cash flow with capital return.
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