Coca-Cola Q3 profit tops estimates on zero sugar drink sales; lifts outlook

Coca-Cola

27/10/2026 11:07

Overview
Beverage giant's Q3 revenue grew 7% yr/yr, driven by concentrate sales and modest price/mix gains
Adjusted EPS for Q3 beat analyst expectations
Company raised full-year guidance for organic revenue and comparable EPS growth

Outlook
Coca-Cola raises 2026 organic revenue growth outlook to at least 5%
Company now expects 2026 comparable EPS growth of at least 11%
Coca-Cola sees 2026 free cash flow at least $13.0 bln

Result Drivers
CONCENTRATE SALES - Q3 revenue growth was driven by higher concentrate sales and timing of shipments
SPARKLING DRINKS - Growth in sparkling soft drinks, especially Coca-Cola Zero Sugar, contributed to volume gains
PRICING ACTIONS - Modest price increases contributed to revenue growth, offset by unfavorable mix

Company press release: ID:nBw6KLkRKa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Revenue
 
$13.40 bln
 
Q3 Adjusted EPS
Beat
$0.91
$0.88 (17 Analysts)
Q3 Operating Margin
 
33.40%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 21 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the non-alcoholic beverages peer group is "hold."
Wall Street's median 12-month price target for Coca-Cola Co is $97.00, about 4.6% above its October 26 closing price of $92.70
The stock recently traded at 27 times the next 12-month earnings vs. a P/E of 24 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)