Coca-Cola lifted its 2026 outlook after third-quarter revenue rose 7% and comparable earnings per share rose 11%.
Coca-Cola raised its full-year outlook on Tuesday after third-quarter sales and profits came in ahead of a year earlier, with volume growth across its sparkling drinks and other categories doing much of the work.
The Atlanta company reported net revenue of $13.4 billion for the quarter, up 7% from a year earlier, and organic revenue also rose 7%, helped by a 7% rise in concentrate sales and 1% growth in price and mix. Earnings per share reached $0.93, up 8%, while comparable earnings per share rose 11% to $0.91, and global unit case volume grew 5%. Operating income increased 12%, and the operating margin widened to 33.4% from 32.0% a year earlier.
For the full year, Coca-Cola now expects organic revenue growth of at least 5% and comparable earnings-per-share growth of at least 11%, up from its previous ranges of about 5% and 9% to 10%. Chief executive Henrique Braun said the quarter showed the system maintaining its momentum while it kept investing in brands and people.
Coca-Cola's own release gives the revenue, margin and earnings figures above, and Dow Jones reporting of the same results puts comparable earnings at 91 cents against analyst estimates of 88 cents compiled by FactSet, with revenue of $13.38 billion against estimates of $12.92 billion. The release does not break out a separate profit figure on the same basis as some wire summaries, so this report uses the company's revenue and per-share figures rather than a single net-profit headline.
The higher guidance matters because it asks investors to judge the company on delivery over the rest of the year rather than on one quarter's volume rebound. Coca-Cola also recently struck a deal to supply beverages to thousands of KFC restaurants in the United States from January, a switch reported by Dow Jones that will test whether the volume gains hold when that business changes hands. The next check will come with the company's full-year results.