Coca-Cola reported second-quarter 2026 earnings and revenue that exceeded Wall Street expectations, and raised its full-year profit guidance, according to the company's earnings release.
Net revenues reached $13.38 billion, a 7% increase year over year, while analysts had expected $13.16 billion, according to CNBC. Quarterly net income was $4.43 billion, or $1.03 per share, compared with $3.81 billion, or 89 cents per share, in the same period last year. Organic revenues grew 6%.
Global unit case volume rose 5% in the quarter, led by India, China, the United States and Brazil. Coca-Cola Zero Sugar posted 16% volume growth, and Trademark Coca-Cola grew 5%. Asia Pacific was the fastest-growing region by volume, up 8%, though the company lost value share there as gains in Japan and China were more than offset by a loss in India. The company gained value share in total nonalcoholic ready-to-drink beverages globally.
In North America, unit case volume grew 3% and comparable currency neutral operating income grew 12%, driven by organic revenue growth and lower operating expenses.
For full-year 2026, Coca-Cola raised its comparable EPS growth target to a range of 9% to 10%, versus the 8% to 9% it had previously guided. The company also nudged its organic revenue growth projection upward to around 5%, at the top end of its earlier 4% to 5% outlook. Free cash flow is projected at approximately $12.4 billion, up from a prior estimate of approximately $12.2 billion.
Separately, Coca-Cola's Fairlife dairy subsidiary suspended all U.S. production operations after a ransomware attack gave an unauthorized third party access to a portion of its systems. Coca-Cola said it had not yet determined whether the attack is likely to have a material effect on the company.