Coca-Cola Reports Q1 Earnings Above Expectations, Raises Full-Year Outlook

Coca-Cola reported quarterly earnings and revenue for the first quarter of 2026 that topped Wall Street expectations on April 28, 2026. The company's adjusted earnings per share came in at 86 cents, surpassing the 81 cents expected by analysts surveyed by LSEG. 24 billion.

The beverage giant raised its full-year 2026 outlook for comparable earnings per share growth to 8% to 9%, up from its prior forecast of 7% to 8%. Coca-Cola reiterated its previous outlook of organic revenue growth of 4% to 5% for the full year. Shares of Coca-Cola rose more than 2% in premarket trading on April 28, 2026, following the announcement.

92 billion, or 91 cents per share. 47 billion in the quarter.

Organic revenue, which excludes acquisitions, divestitures and currency effects, rose 10% in Q1 2026. Global unit case volume increased 3%, reflecting demand for the company's beverages. In North America, volume grew 4%.

Across product segments, the water, sports, coffee and tea category saw global volume growth of 5%. The sparkling soft drinks division reported a 2% volume increase, driven by a 13% jump in Coca-Cola Zero Sugar volume. The juice, value-added dairy and plant-based beverage segment experienced a 1% volume decline.

Coca-Cola sold its finished product operations in Nigeria in 2025, which contributed to the decline in the juice, value-added dairy and plant-based segment despite growth in brands like Fairlife and Santa Clara. Bottles of Coca-Cola were displayed for sale at a store in LaBelle, Florida, as captured in recent imagery. Over the last year ending April 28, 2026, shares of Coca-Cola rose 6%.

The company noted that premium brands like Fairlife and Smartwater have remained strong amid varying consumer demand.