Coca-Cola reported better-than-expected quarterly results and raised its annual guidance

Coca-Cola reported better-than-expected financial results for the third quarter, after which the company's shares rose approximately 0.4% in pre-market trading. The beverage maker also raised its revenue and profit forecasts.

The company's adjusted earnings per share (EPS) came in at $0.91, exceeding the $0.88 expected by analysts. Revenue grew to $13.4 billion, compared with the market's expectation of $12.93 billion. On an annual basis, revenue increased by 7%.

The company's results were supported by a 5% increase in global unit case volume. Demand was particularly strong in India, China, Mexico and Brazil. Organic revenue, which excludes the effects of currency fluctuations and acquisitions/divestitures, grew by 7%. This result was driven by a 7% increase in concentrate sales and a 1% positive effect from price and product mix changes.

The brand's flagship product, Coca-Cola, showed 5% growth, while Coca-Cola Zero Sugar sales increased by 16%. Both products showed positive momentum across all of the company's geographic operating segments.

"This quarter's results point to the sustained growth of our business and give us confidence in our updated full-year outlook," said Coca-Cola CEO Henrique Braun.

The company raised its 2026 organic revenue growth forecast to at least 5%. The previously expected growth rate was around 5%. The adjusted profit forecast was also improved: Coca-Cola now expects earnings per share growth of at least 11%, compared with the previous forecast of 9–10%. The updated forecast accounts for an approximately 3% positive effect from currency fluctuations and a 1% negative impact from acquisitions and divestitures.

The company also raised its free cash flow forecast — from approximately $12.4 billion to at least $13 billion.

Profitability metrics also improved. Operating margin increased from 32% last year to 33.4%, while adjusted operating margin came in at 32.9%, compared with 31.9% in the prior year. The improvement was driven by organic revenue growth and positive currency effects, although the result was partially offset by additional spending on marketing and operating expenses.

By region, particularly strong results were recorded in Latin America: revenue grew by 25%, and operating profit by 29%. In North America, revenue increased by 3%, although sales volume remained unchanged. In the Asia-Pacific region, revenue grew by 4%, while sales volume increased by 6%.