The Coca-Cola Company (KO) Earnings Call Transcripts
The Coca-Cola Company's Latest Earnings Call - Q3 FY2026
In the third quarter of 2026, The Coca-Cola Company reported strong results, with organic revenue growth of 7% and comparable earnings per share (EPS) of $0.91, reflecting an 11% increase year-over-year. Management raised guidance for full-year 2026, now expecting organic revenue growth of at least 5% and comparable currency-neutral EPS growth of at least 9%. The company's performance was driven by a 5% increase in volume and margin expansion, despite ongoing cost pressures and a challenging global environment.
Reported metrics
| Metric | Value |
|---|---|
| Organic Revenue Growth | 7% (positive) |
| Comparable EPS | $0.91 (positive) |
| Volume Growth | 5% (positive) |
| Comparable Gross Margin Increase | 170 basis points (positive) |
| Comparable Operating Margin Increase | 110 basis points (positive) |
| Free Cash Flow | $13 billion (positive) |
Guidance from management
Coca-Cola now expects organic revenue growth of at least 5% and comparable currency-neutral EPS growth of at least 9% for the full year 2026. Guidance for comparable EPS growth has been raised to at least 11%.
What management said
Yes. And I would just add, Filippo, if you're looking at the overall volume number, we -- the restaurant industry continues to be under pressure. And so when you're looking at the discount or data, et cetera, I think you're seeing a stronger business at home versus away from home largely driven by consumer pressures that we've talked about in the past. And while our own business continues to have a lot of momentum ac...
Yes, great question. And the short answer is no. We need to take into account what's unfolded over the last 24 to 48 hours, and we'll continue to do so. There's been quite a -- as you've seen throughout the year, there's been quite a lot of movement. So it's one we're watching very carefully. And if there's sufficient movement over the course of the next number of weeks, we'll certainly would want to provide an updat...
What analysts pressed on
Analysts expressed concerns regarding the potential impact of destocking and the timing of sales, particularly with six fewer selling days in the fourth quarter. There were also questions about the sustainability of volume growth in North America given the challenging macroeconomic environment and inflationary pressures on consumers.
Main topics on the call
- Strong Volume Growth — Coca-Cola achieved a 5% increase in volume for the quarter, with notable growth in key brands such as Trademark Coca-Cola and fairlife. CEO Henrique Braun stated, "We are encouraged by the momentum across our business an...
- Margin Expansion — The company reported a comparable gross margin increase of approximately 170 basis points and a comparable operating margin increase of approximately 110 basis points. CFO John Murphy noted, "Margin expansion did not com...
- Updated Guidance — Coca-Cola raised its full-year guidance, now expecting organic revenue growth of at least 5% and comparable currency-neutral EPS growth of at least 9%. John Murphy mentioned, "We now expect comparable earnings per share ...
- Geopolitical and Cost Pressures — Management acknowledged ongoing geopolitical disruptions and cost pressures affecting the business. Braun stated, "The global operating environment continues to evolve. Geopolitical disruptions affect several parts of th...
Read the full The Coca-Cola Company transcript (Q3 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.
About The Coca-Cola Company
The Coca-Cola Company (KO) is a publicly listed company in the Beverages industry, within the Consumer Staples sector. It trades on NYSE and is based in US. EarningsCalls.dev maintains a free, full-text archive of its earnings call transcripts — 69 calls on record spanning January 30, 2020 to October 27, 2026. Every transcript is split into speaker-by-speaker segments with headline metrics, free to read or available through our REST API.
Earnings Call History
EarningsCalls.dev has 69 The Coca-Cola Company earnings call transcripts on record, spanning January 30, 2020 to October 27, 2026. Based on this history, The Coca-Cola Company reports quarterly. The most recent call on file is dated October 27, 2026. The full list is below — each row opens the complete, free-to-read transcript.
- Ticker
- KO
- Exchange
- NYSE
- Country
- US
- Sector
- Consumer Staples
- Industry
- Beverages
- Calls on record
- 69
- First call
- January 30, 2020
- Most recent
- October 27, 2026
- Reporting cadence
- quarterly