Coca-Cola (NYSE:KO) Announces Quarterly Earnings Results, Beats Expectations By $0.03 EPS

Coca-Cola (NYSE:KO) issued its quarterly earnings results on Tuesday. The company reported $0.91 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.03, Zacks reports. The company had revenue of $13.40 billion during the quarter, compared to the consensus estimate of $12.92 billion. During the same quarter in the prior year, the business earned $0.82 earnings per share. The firm’s quarterly revenue was up 7.2% compared to the same quarter last year.

Here are the key takeaways from Coca-Cola’s conference call:

• Coca-Cola reported a strong third quarter, with 5% unit case growth, 7% organic revenue growth, and 11% comparable EPS growth. Comparable gross and operating margins expanded, while the company said it gained value share for the 22nd consecutive quarter.
• Management raised its full-year 2026 outlook, now expecting at least 5% organic revenue growth, 11% comparable EPS growth, and $13 billion in free cash flow. The company cited strong underlying performance, working-capital improvements, and a strengthened balance sheet.
• Growth is increasingly reliant on affordability initiatives, zero-sugar offerings, digital execution, and local market activation as consumers remain value-conscious. Pricing contributed four points, but unfavorable mix reduced price-mix growth to just 1%, while logistics and transportation costs are adding pressure.
• Coca-Cola expects the planned refranchising of Coca-Cola Beverages Africa to create an 8-point comparable revenue headwind and a 2-point EPS headwind in 2027, despite anticipated margin and return-profile benefits. Management also expects slight currency headwinds next year and acknowledged ongoing consumer and restaurant-industry weakness in several markets.

Coca-Cola Trading Down 1.5%

Shares of NYSE KO opened at $91.33 on Wednesday. The stock has a market capitalization of $392.94 billion, a PE ratio of 27.43 and a beta of 0.32. Coca-Cola has a 12-month low of $67.27 and a 12-month high of $95.37. The stock’s fifty day simple moving average is $89.29 and its two-hundred day simple moving average is $81.73.

Coca-Cola Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Tuesday, December 1st will be given a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 2.3%. The ex-dividend date of this dividend is Tuesday, December 1st. Coca-Cola’s dividend payout ratio is presently 63.66%.

Key Stories Impacting Coca-Cola

Here are the key news stories impacting Coca-Cola this week:

• Positive Sentiment: Coca-Cola exceeded quarterly expectations, reporting adjusted EPS of $0.91 versus the $0.88 consensus and revenue of approximately $13.4 billion versus $12.92 billion expected. Revenue increased 7.2% year over year. Coca-Cola Q3 earnings report
• Positive Sentiment: Management raised its full-year comparable EPS growth outlook to at least 11%, up from 9%–10%, marking the third consecutive outlook increase. The upgrade was supported by global volume growth, pricing, organic revenue growth and favorable currency trends. Coca-Cola outlook raised
• Positive Sentiment: Global unit case volume rose 5%, including a 16% increase for Coca-Cola Zero Sugar, while emerging markets and international operations drove much of the growth. Year-to-date free cash flow reached $11.4 billion, reinforcing the company’s defensive cash-generation and dividend profile. Coca-Cola long-term investor takeaways
• Neutral Sentiment: Analysts continue to describe KO as a resilient, defensive “Dividend King,” but commentary also notes that its roughly 2.2% yield and price-to-earnings ratio near 27 make the shares less compelling for income-focused investors than some alternatives. Coca-Cola and Pepsi dividend comparison
• Negative Sentiment: North American volume was flat, with weakness in water, sports drinks, coffee and tea offsetting growth in Coca-Cola-branded products. Executives acknowledged that consumer pressures could persist into 2027, raising concerns about how long international strength can offset softness in the home market. Coca-Cola slowing U.S. demand
• Negative Sentiment: The pullback also reflects profit-taking and valuation concerns: KO had already rallied about 30% in 2026 and recently reached a record high, leaving investors demanding sustained growth to justify the premium. Coca-Cola valuation and rally analysis

Analyst Ratings Changes

Several research firms have recently issued reports on KO. HSBC raised their target price on shares of Coca-Cola from $90.00 to $98.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. Seaport Research Partners set a $95.00 price objective on shares of Coca-Cola in a research report on Friday, August 14th. Daiwa Securities Group raised their price objective on shares of Coca-Cola from $83.00 to $93.00 and gave the stock an “outperform” rating in a research note on Thursday, July 30th. UBS Group restated a “buy” rating on shares of Coca-Cola in a research report on Monday, October 19th. Finally, Rothschild & Co Redburn upped their target price on Coca-Cola from $86.00 to $92.00 and gave the company a “buy” rating in a research note on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Coca-Cola currently has a consensus rating of “Moderate Buy” and an average target price of $96.59.

Insider Activity

In other news, insider Bruno Pietracci sold 111,365 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $90.93, for a total value of $10,126,419.45. Following the completion of the sale, the insider owned 41,365 shares of the company’s stock, valued at $3,761,319.45. This trade represents a 72.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO John Murphy sold 152,483 shares of the company’s stock in a transaction dated Friday, July 31st. The shares were sold at an average price of $87.31, for a total transaction of $13,313,290.73. Following the transaction, the chief financial officer owned 279,917 shares in the company, valued at approximately $24,439,553.27. This trade represents a 35.26% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 323,806 shares of company stock valued at $28,820,577 over the last 90 days. 0.90% of the stock is currently owned by corporate insiders.

About Coca-Cola

The Coca-Cola Company (NYSE: KO) is a global beverage company headquartered in Atlanta, Georgia. Founded in 1886, it is best known for Coca-Cola, one of the world’s most recognized soft drink brands.

The company owns, licenses, and markets a broad portfolio of beverages, including sparkling soft drinks, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages, and energy drinks. Its brands include Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Sprite, Fanta, Dasani, smartwater, Powerade, Minute Maid, Simply, fairlife, and Costa Coffee, among others.

The Coca-Cola Company serves consumers in more than 200 countries and territories through a system that includes company-operated operations, independent bottling partners, distributors, retailers, and food-service providers.