The Coca-Cola Company · 2026 Q2

Consensus vs reported

QoQ and YoY are measured on the same basis as each panel's own consensus, so no panel compares two different measures.

2026 Q2 preview

Reported this quarter

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What we learned

1. The beat was small and the raise was the fourth in a row. Net revenues of $13.38B against ~$13.16B and comparable EPS of $0.97 against $0.93 .
2. The revenue mix was volume, not price. Growth came from a 4% increase in concentrate sales against 2% price/mix , with global unit case volume up 5%. For a company whose recent growth has leaned on pricing, that is the healthier half doing the work.
3. The World Cup activation converted. Trademark Coca-Cola volume +5% , Powerade +8% , with beverage incidence above 80% at tournament venues — an event tailwind that required the bottling system to execute, and did.
4. The two EPS lines moved differently, which is worth naming. GAAP diluted EPS rose 16% to $1.03 while comparable EPS rose 11% to $0.97 . The consensus was set on the comparable line; the headline is the other one.
5. A 7% move to an all-time high on a four-cent beat says the raise was the news. Shares touched a record near $91 before settling around $88, and UBS, Citi and Barclays all raised targets above the high-$80s cluster the stock carried into the print.

Read the full analysis: Coca-Cola Q2 2026: World Cup Boost Drives a Beat, Full-Year Guidance Raised, Stock Hits an All-Time High →

Coverage around this release

Estimate against reported

Estimates are the consensus we published on our own preview for that quarter; quarters we did not preview carry the reported figure only. Where a consensus was set on a non-GAAP basis, the reported column shows that same measure.

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2026 Q2 across the sector

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