Coca-Cola earnings date and guidance
Coca-Cola's next results are expected on October 27, 2026. Watch finished-drink volume beside concentrate sales.
What has Coca-Cola guided for 2026?
Guidance is management’s forecast, not a guarantee. Coca-Cola now expects 5.0% organic revenue growth, meaning growth from the continuing business after removing currency and portfolio changes. It expects comparable earnings per share to rise 9.0%–10.0%; against 2025 comparable earnings of $3.00 per share, that implies about $3.27–$3.30.
Management expects $14,600 million from operations and $2,200 million of capital spending, leaving about $12,400 million of free cash flow. That is cash remaining after long-lived investments such as production lines.
| Period guided | Low | High | Date given | |
|---|---|---|---|---|
| Organic revenues (non-GAAP) | Year to Dec 2026 | 5.0% | 5.0% | July 28, 2026 |
| Underlying effective tax rate (non-GAAP) | Year to Dec 2026 | 19.9% | 19.9% | July 28, 2026 |
| Comparable currency neutral EPS excluding acquisitions and divestitures (non-GAAP) | Year to Dec 2026 | 7.0% | 8.0% | July 28, 2026 |
| Comparable EPS (non-GAAP) | Year to Dec 2026 | 9.0% | 10.0% | July 28, 2026 |
| Free cash flow (non-GAAP) | Year to Dec 2026 | 12,400 | 12,400 | July 28, 2026 |
| Cash from operations | Year to Dec 2026 | 14,600 | 14,600 | July 28, 2026 |
Did Coca-Cola keep its 2025 promise?
Coke delivered 5% organic revenue growth in 2025, at the low end of its promise, while global unit-case volume was flat. Organic growth removes currency and acquisition effects. Revenue can therefore rise through higher prices or a more expensive product mix even when the number of drinks sold does not.
What do Coca-Cola's last eight quarters show?
Revenue rose 6.7% year over year, while operating income, net income and diluted EPS all increased. Displayed EPS growth was 17.0%, though Coca-Cola’s headline percentage uses unrounded figures. The more important operating evidence was that global unit-case volume grew 5%, while concentrate sales grew 4% and price/mix grew 2%.
| Jul 2026 | Apr 2026 | Dec 2025 | Sep 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sep 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | 13,380 | 12,472 | 11,822 | 12,455 | 12,535 | 11,129 | 11,544 | 11,854 |
| Operating income | 4,672 | 4,359 | 1,841 | 3,982 | 4,280 | 3,659 | 2,709 | 2,510 |
| Net income | 4,425 | 3,924 | 2,271 | 3,696 | 3,810 | 3,330 | 2,195 | 2,848 |
| EPS, diluted | 1.03 | 0.91 | 0.53 | 0.86 | 0.88 | 0.77 | 0.51 | 0.66 |
| = Free cash flow | 5,104 | 1,755 | 2,874 | 4,564 | 3,369 | -5,511 | 3,148 | -1,728 |
What should people watch in Coca-Cola's next results?
The first checkpoint is October 27, 2026, when Coca-Cola reports its third quarter. Watch finished-drink volume beside concentrate sales. In the second quarter, volume rose 5.0% while concentrate sales rose 4.0%, because bottlers’ shipments follow a different timetable.