Earnings summaries and quarterly performance for COCA COLA.
Executive leadership at COCA COLA.
James Quincey
Detailed
Chief Executive Officer
CEO
Henrique Braun
Detailed
Executive Vice President and Chief Operating Officer
Jennifer Mann
Detailed
Executive Vice President and President, North America operating unit
John Murphy
Detailed
President and Chief Financial Officer
Manuel Arroyo
Detailed
Executive Vice President and Global Chief Marketing Officer
Monica Howard Douglas
Detailed
Executive Vice President and Global General Counsel
Board of directors at COCA COLA.
Amity Millhiser
Detailed
Director
Ana Botín
Detailed
Director
Bela Bajaria
Detailed
Director
Caroline Tsay
Detailed
Director
Carolyn Everson
Detailed
Director
Christopher Davis
Detailed
Director
David Weinberg
Detailed
Lead Independent Director
Herb Allen
Detailed
Director
Maria Elena Lagomasino
Detailed
Director
Max Levchin
Detailed
Director
Thomas Gayner
Detailed
Director
Research analysts who have asked questions during COCA COLA earnings calls.
Andrea Teixeira
JPMorgan Chase & Co.
4 questions for KO
Also covers: CELH, CENT, CHD +20 more
Bonnie Herzog
Goldman Sachs
4 questions for KO
Also covers: CASY, CCEP, CELH +21 more
Christopher Carey
Wells Fargo & Company
4 questions for KO
Also covers: CAG, CHD, CL +21 more
Dara Mohsenian
Morgan Stanley
4 questions for KO
Also covers: CHD, CL, CLX +12 more
Filippo Falorni
Citigroup Inc.
4 questions for KO
Also covers: CELH, CHD, CL +12 more
Kaumil Gajrawala
Jefferies
4 questions for KO
Also covers: BARK, BRBR, BTMD +22 more
Lauren Lieberman
Barclays
4 questions for KO
Also covers: CCEP, CHD, CL +18 more
Robert Moskow
TD Cowen
4 questions for KO
Also covers: BGS, BRBR, BYND +27 more
Robert Ottenstein
Evercore ISI
4 questions for KO
Also covers: ABEV, BUD, CCEP +14 more
Bryan Spillane
Bank of America
3 questions for KO
Also covers: BRBR, CCEP, CL +7 more
Charlie Higgs
Redburn Atlantic
3 questions for KO
Also covers: CCEP, PEP
Michael Lavery
Piper Sandler & Co.
3 questions for KO
Also covers: BGS, BYND, CELH +22 more
Peter Grom
UBS Group
3 questions for KO
Also covers: BRBR, CELH, CHD +25 more
Stephen Robert Powers
Deutsche Bank
3 questions for KO
Also covers: BRBR, CHD, CL +20 more
William Chappell
Truist Securities
3 questions for KO
Also covers: BRBR, BRCC, CENT +9 more
Carlos Laboy
HSBC
2 questions for KO
Also covers: ABEV, CCEP, FMX +3 more
Kevin Grundy
BNP Paribas
2 questions for KO
Also covers: CELH, CHD, CL +8 more
Nik Modi
RBC Capital Markets
1 question for KO
Also covers: KDP, KMB, KVUE +6 more
Peter Galbo
Bank of America
1 question for KO
Also covers: CAG, CL, CPB +23 more
Steve Powers
Deutsche Bank
1 question for KO
Also covers: BRBR, CHD, CL +21 more
Recent press releases and 8-K filings for KO.
Coca-Cola outlines consumer headwinds and strategic levers at Morgan Stanley Conference
KO
- CEO James Quincey highlighted ongoing consumer pressure—especially among lower-income segments—and noted that targeted pricing, marketing and execution levers pulled in Q3 helped drive a stronger September performance despite tepid macros.
- Reaffirmed long-term top-line growth model of 4–6%, split evenly between 2–3% volume and 2–3% pricing, with pricing expected to moderate as input inflation eases while maintaining earned pricing power.
- Emphasized Revenue Growth Management and package segmentation to dynamically capture maximum demand under varying affordability, shifting investments to where lower-basket consumers shop.
- Fairlife business, now the largest value-added dairy in the US and Mexico, will add 30% more capacity to exit allocation, enabling channel expansion and new product innovations once fully online.
- Accelerating AI deployment across R&D, marketing and sales to boost innovation success rates, deliver more targeted and cost-effective campaigns, and optimize distribution via predictive ordering systems.
Dec 2, 2025, 4:45 PM
Coca-Cola at Morgan Stanley Global Consumer & Retail Conference 2025
KO
- Consumer environment remains pressured, with macro headwinds expected to intensify in 2026; Coca-Cola is deploying marketing, innovation, execution, and pricing levers to navigate volatility.
- Emphasizing segmentation for affordability, reallocating marketing investments to channels and occasions favored by consumers under income pressure.
- Long-term model targets 4–6% top-line growth balanced between 2–3% volume and 2–3% pricing, anticipating moderation in pricing as input cost inflation eases.
- Fairlife capacity set to increase by 30%, enabling removal of allocation constraints, expanded flavors and pack sizes, and further penetration in US and Mexican protein-dairy markets.
- Aiming to boost innovation success and marketing effectiveness through AI-driven consumer insight, product development, and segmented marketing, while reinforcing a culture of "constructive discontent".
Dec 2, 2025, 4:45 PM
Coca-Cola discusses consumer outlook and growth strategies
KO
Demand Weakening
New Projects/Investments
- In Q3, consumer macros remain tepid with headwinds persisting into 2026; Coca-Cola pulled marketing, innovation, execution, and pricing levers to improve September performance despite these pressures.
- Long-term revenue growth target of 4 – 6% comprises balanced 2 – 3% volume and 2 – 3% pricing contributions; pricing moderation expected as input-cost inflation eases.
- Enhanced Revenue Growth Management through affordability segmentation and price-pack architecture remains a key lever as consumers shift channels and basket sizes.
- Fairlife, now the largest value-added dairy brand in the US and Mexico, is scaling capacity (+30%) to meet protein-drink demand and evaluating further international expansion.
- AI is being deployed to boost innovation success, enable more targeted and cost-effective marketing, and automate sales recommendations, contingent on improving internal processes.
Dec 2, 2025, 4:45 PM
Coca-Cola expands into prebiotic beverages amid booming US probiotics market
KO
Product Launch
- The US probiotics market is projected to grow from $26.65 billion in 2024 to $71.8 billion by 2033, a CAGR of 11.64%.
- Rising consumer awareness of gut health—with interest in immunity, mental well-being, healthy aging, and sleep—underpins strong demand for functional foods and supplements.
- Innovation in food and beverage applications is broadening offerings beyond yogurt to juices, cereals, bars, smoothies, and plant-based alternatives.
- In July 2025, PepsiCo launched a prebiotic cola; Coca-Cola similarly introduced prebiotic-fortified juice lines to capture the functional-drink segment.
- The market faces regulatory and labeling complexities and intense competition, which may pressure margins as brands vie for differentiation.
Nov 10, 2025, 4:22 PM
Coca-Cola Consolidated reports Q3 and 9M 2025 results
KO
Earnings
Share Buyback
Dividends
- Q3 volume rose 3.3%, driven by a 1.4% increase in Sparkling and 8.9% growth in Still beverages.
- Net sales grew 6.9% to $1.89 billion in Q3 and 3.3% to $5.32 billion for the first nine months.
- Operating income in Q3 was $246.6 million, up 8.6%, with operating margin expanding 20 bps to 13.1%.
- Q3 EPS climbed 24% to $1.64, and on an adjusted basis was $2.06, up 10% year-over-year.
- Through the first nine months, the company returned $211 million to shareholders via share repurchases and dividends.
Oct 29, 2025, 8:10 PM
Coca-Cola reports Q3 2025 results
KO
Earnings
Guidance Update
M&A
- Third-quarter core results: organic revenues grew 6%, unit cases +1%, and comparable EPS of $0.82 (+6% YoY) despite a 6% currency headwind.
- Margin performance: comparable operating margin expanded ~120 bps, while comparable gross margin declined ~10 bps driven by timing of shipments and investments.
- Full-year 2025 guidance reiterated: organic revenue growth of 5–6%, comparable EPS growth of ~3% on a $2.88 base, and at least $9.8 billion in free cash flow (ex-fairlife payment).
- Strategic M&A: sold a 40% stake in Indian bottler to Jubilant Bhatia Group; Coca-Cola HBC AG to acquire a controlling interest in Coca-Cola Beverages Africa, pending regulatory approvals.
- Market position: delivered volume growth with sequential improvement into September and gained value share for the 18th consecutive quarter, holding or gaining share across all regions.
Oct 21, 2025, 12:30 PM
Coca-Cola reports Q3 2025 margin expansion
KO
Earnings
- Consolidated gross margin for Q3 2025 was 61.5% GAAP, with underlying expansion of ~80 bps y-o-y and a ~100 bps currency headwind, resulting in a non-GAAP comparable margin of 61.0%.
- Consolidated operating margin for Q3 2025 reached 32.0% GAAP, driven by an underlying expansion of ~260 bps from organic growth and cost management, offset by ~150 bps of currency impacts, yielding a non-GAAP comparable margin of 31.9%.
- A ~10 bps structural tailwind from refranchising bottling operations in India supported both gross and operating margin improvements.
Oct 21, 2025, 12:30 PM
Coca-Cola reports Q3 2025 results
KO
Earnings
- Global unit case volume grew 1%, with net revenues up 5% to $12.5 billion and organic revenues (non-GAAP) up 6%.
- Operating income increased 59% to $3.98 billion, driving operating margin to 32.0% versus 21.2% in Q3 2024.
- EPS rose 30% to $0.86, while comparable EPS (non-GAAP) grew 6% to $0.82.
- Year-to-date free cash flow excluding the fairlife contingent consideration payment reached $8.5 billion, with operating cash flow of $3.7 billion.
Oct 21, 2025, 10:59 AM
Coca-Cola sells 75% CCBA stake to Coca-Cola HBC for $3.4B
KO
M&A
Debt Issuance
- Coca-Cola and Gutsche Family Investments will sell a 75% controlling interest in Coca-Cola Beverages Africa to Coca-Cola HBC for $3.4 billion (Coca-Cola sells 41.52% of its 66.52% stake; Gutsche sells 33.48%; CCBA equity value of $3.4 billion)
- The deal is expected to close by end of 2026, supporting Coca-Cola’s refranchising strategy and limiting bottling investments to about 5% of net revenue
- Coca-Cola HBC will fund the transaction through a new debt facility and anticipates low-single-digit EPS accretion in the first full year post-close
- Coca-Cola HBC plans a secondary listing on the Johannesburg Stock Exchange and holds an option to acquire the remaining 25% of CCBA within six years of closing
Oct 21, 2025, 6:15 AM
Coca-Cola sells controlling interest in Coca-Cola Beverages Africa
KO
M&A
- The Coca-Cola Company and Gutsche Family Investments will sell a 75% controlling interest in Coca-Cola Beverages Africa (CCBA) to Coca-Cola HBC AG, valuing CCBA at US$3.4 billion for 100% of the equity.
- Coca-Cola will divest 41.52% of its 66.52% stake, while Gutsche Family Investments will sell 33.48%, and Coca-Cola HBC AG will have an option to acquire the remaining 25% within six years of closing.
- The transaction is expected to close by the end of 2026, subject to regulatory approvals.
- Following closing, bottling investments are projected to represent approximately 5% of consolidated net revenue, down from 13% in 2024, as part of Coca-Cola’s ongoing refranchising strategy.
Oct 21, 2025, 6:00 AM
Quarterly earnings call transcripts for COCA COLA.
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