CocaCola (NYSE:KO) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

28 Apr 2026, 12:56 by Teresa Graham · The Cerbat Gem

CocaCola (NYSE:KO – Get Free Report) announced its earnings results on Tuesday. The company reported $0.86 EPS for the quarter, beating the consensus estimate of $0.81 by $0.05, FiscalAI reports. CocaCola had a return on equity of 41.31% and a net margin of 27.34%.The business had revenue of $12.47 billion for the quarter, compared to analysts’ expectations of $12.28 billion. During the same period in the prior year, the business posted $0.73 earnings per share. The firm’s revenue was up 11.4% on a year-over-year basis. CocaCola updated its FY 2026 guidance to 3.240-3.270 EPS.

Here are the key takeaways from CocaCola’s conference call:

Delivered a strong Q1 with 3% unit case growth, organic revenue up (~10% including a calendar impact), comparable EPS $0.86 (+18% YoY), ~$1.8bn free cash flow and net debt leverage of 1.6x.
Raised and reaffirmed 2026 targets—now expecting organic revenue growth of 4%–5% and comparable EPS growth of 8%–9% (benefitting from a lower effective tax rate), while noting currency tailwinds and an expected ~4‑point revenue headwind from divestitures (CCBA).
Margins showed mixed signals—comparable gross margin declined ~30 bps driven by commodity pressures (tea/coffee) and APAC inventory phasing, and the company acknowledged bottlers face elevated exposure to aluminum and PET costs.
Management emphasized a consumer‑centric, digital approach (the “four I’s”) with product innovation—e.g., Coca‑Cola Zero Zero, Sprite campaigns, Fuze Tea—and expanded execution (added ~600,000 outlets and ~340,000 cold drink units) that supported continued value‑share gains.
Regional risks persist—volumes weakened in March in the Middle East due to the conflict and Mexico/Argentina face softness (sugar tax/affordability), though Brazil and Central America helped offset declines.

CocaCola Stock Up 5.6%

NYSE:KO traded up $4.22 during trading hours on Tuesday, hitting $79.66. 8,655,998 shares of the company traded hands, compared to its average volume of 17,094,848. The company has a quick ratio of 1.25, a current ratio of 1.46 and a debt-to-equity ratio of 1.23. The firm’s 50-day simple moving average is $77.16 and its 200-day simple moving average is $73.37. CocaCola has a one year low of $65.35 and a one year high of $82.00. The company has a market cap of $342.88 billion, a PE ratio of 26.22, a PEG ratio of 3.24 and a beta of 0.36.

CocaCola Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th were paid a dividend of $0.53 per share. This is a boost from CocaCola’s previous quarterly dividend of $0.51. The ex-dividend date was Friday, March 13th. This represents a $2.12 annualized dividend and a yield of 2.7%. CocaCola’s dividend payout ratio (DPR) is 69.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on KO. Weiss Ratings reiterated a “buy (b-)” rating on shares of CocaCola in a report on Thursday, January 22nd. Wells Fargo & Company upped their target price on CocaCola from $79.00 to $87.00 and gave the company an “overweight” rating in a report on Monday, February 9th. Morgan Stanley set a $88.00 target price on CocaCola in a report on Wednesday, March 11th. Barclays upped their target price on CocaCola from $77.00 to $83.00 and gave the company an “overweight” rating in a report on Thursday, February 12th. Finally, Royal Bank Of Canada set a $87.00 price target on CocaCola in a report on Wednesday, February 11th. Fifteen analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $85.00.

Check Out Our Latest Analysis on CocaCola

Key Headlines Impacting CocaCola

Here are the key news stories impacting CocaCola this week:

Positive Sentiment: Q1 earnings and revenue beat consensus (EPS $0.86 vs. $0.81 expected; revenue $12.47B vs. $12.28B expected), signaling stronger top‑ and bottom‑line momentum. Article Title
Positive Sentiment: Coca‑Cola raised its annual adjusted EPS guidance to $3.240–$3.270 (consensus ~3.23), reflecting management confidence in pricing and mix — a clear catalyst for upside. Article Title
Positive Sentiment: Management highlighted growth in concentrate sales and resilient demand for higher‑priced drinks; WSJ and other reports note profit rises driven by concentrate volumes sold to bottlers. Article Title
Positive Sentiment: Premarket reaction: shares jumped (reported ~3% premarket) after the beat and guidance raise, showing initial investor enthusiasm. Article Title
Neutral Sentiment: Company press release and investor slide deck provide detail on regional performance and margin drivers — useful for modeling but not new directional news. Press Release & Slide Deck
Neutral Sentiment: Analyst previews and commentary ahead of the print focused on pricing power vs. volume tradeoffs; background reading for investors assessing sustainability of the beat. Article Title
Negative Sentiment: Market concerns persist about consumer fatigue from price increases and soft volumes; several articles warn pricing may be wearing thin and could limit upside if volumes don’t recover. Article Title
Negative Sentiment: Valuation and modest recent share gains (KO up only ~6% over the last year) leave less room for disappointment — investors cited a stretched P/E vs. growth expectations. Article Title

Insider Buying and Selling at CocaCola

In other CocaCola news, CFO John Murphy sold 99,437 shares of the firm’s stock in a transaction on Wednesday, February 25th. The stock was sold at an average price of $80.42, for a total transaction of $7,996,723.54. Following the transaction, the chief financial officer directly owned 410,550 shares in the company, valued at approximately $33,016,431. This trade represents a 19.50% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Nancy Quan sold 23,556 shares of the firm’s stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $79.50, for a total value of $1,872,702.00. Following the transaction, the executive vice president owned 223,330 shares in the company, valued at approximately $17,754,735. This trade represents a 9.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 892,925 shares of company stock worth $70,254,796. 0.90% of the stock is currently owned by insiders.

Hedge Funds Weigh In On CocaCola

Large investors have recently bought and sold shares of the stock. Brighton Jones LLC increased its position in shares of CocaCola by 13.3% during the 4th quarter. Brighton Jones LLC now owns 39,072 shares of the company’s stock valued at $2,433,000 after purchasing an additional 4,591 shares during the last quarter. Revolve Wealth Partners LLC increased its position in shares of CocaCola by 3.4% during the 4th quarter. Revolve Wealth Partners LLC now owns 8,795 shares of the company’s stock valued at $548,000 after purchasing an additional 293 shares during the last quarter. State of Wyoming purchased a new stake in shares of CocaCola during the 4th quarter valued at $158,000. Mcguire Capital Advisors Inc. purchased a new stake in shares of CocaCola during the 4th quarter valued at $126,000. Finally, Intesa Sanpaolo Wealth Management purchased a new stake in shares of CocaCola during the 4th quarter valued at $113,000. 70.26% of the stock is currently owned by institutional investors.

About CocaCola

(Get Free Report)

The Coca‑Cola Company (NYSE: KO) is a global beverage manufacturer, marketer and distributor best known for its flagship Coca‑Cola soda. Headquartered in Atlanta, Georgia, the company develops and sells concentrates, syrups and finished beverages across a broad portfolio of brands. Its product range spans sparkling soft drinks, bottled water, sports drinks, juices, ready‑to‑drink teas and coffees, and other still beverages, marketed under both global and regional brand names.

Coca‑Cola’s brand portfolio includes widely recognized names such as Coca‑Cola, Diet Coke, Coca‑Cola Zero Sugar, Sprite, Fanta, Minute Maid, Powerade and Dasani, and in recent years the company has expanded into the coffee and premium beverage categories through acquisitions such as Costa Coffee.