cmgventure
$KO | THE COCA-COLA COMPANY Q3 2026 EARNINGS HIGHLIGHTS
◆ EPS: $0.91 vs. $0.88 est. ✅
◆ Revenue: $13.38B vs. $12.92B est. ✅
◆ Net Income: $4.009B (+8.0% YoY)
◆ Operating Income: $4.465B (+12.0% YoY)
◆ Operating Expenses: $3.975B (+9.9% YoY)
◆ H1+Q3 Operating Cash Flow: $12.471B (+241.5% YoY)
Segment Performance:
◆ North America: $5.386B (+3% YoY)
◆ Europe, Middle East & Africa: $3.104B (+4% YoY)
◆ Asia Pacific: $1.563B (+4% YoY)
◆ Latin America: $1.958B (+25% YoY)
Key Metrics:
◆ Year-to-date free cash flow (non-GAAP) was $11.4B through Q3 2026, versus $2.4B in the prior-year period (which included a $6.1B fairlife payment).
◆ Global unit case volume grew 5% in Q3 2026, led by India, China, Mexico and Brazil; Coca-Cola Zero Sugar grew 16%.
◆ Bottling Investments operating income grew 261% to $205M, driven by organic revenue growth and lower operating expenses.
Forward Guidance:
◆ FY2026 organic revenue (non-GAAP): at least +5% growth (raised from approx. 5%).
◆ FY2026 comparable EPS (non-GAAP): at least +11% growth, including approx. 3% currency tailwind and approx. 1% headwind from acquisitions and divestitures.
◆ FY2026 comparable currency neutral EPS ex. acquisitions/divestitures (non-GAAP): at least +9% growth (raised from 7%-8%).
◆ FY2026 free cash flow (non-GAAP): at least $13.0B, comprising at least $15.2B cash from operations less approx. $2.2B capex (raised from approx. $12.4B).
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