COCA COLA (KO) Company Report

Q4 net sales rose 17.6% to $2.13 billion; operating income increased 42.3% to $542.6 million.
Q4 net income grew 65.9% to $449.2 million; diluted EPS rose 64.9% to $0.46.
FY2025 net sales increased 10.7% to $8.29 billion; net income rose 26.3% to $1.91 billion; diluted EPS was $1.94.
Effective Feb. 25, 2026, Rob Gehring was named CEO, Americas; Guy Carling CEO, EMEA & OSP; and Emelie Tirre Chief Strategy Officer.

8 hours ago

Press Release

FEMSA reports fourth quarter 2025 results

Earnings

FEMSA consolidated Q4 revenues grew 5.7% and income from operations increased 8.5% year-on-year.
Proximity Americas unit saw Q4 revenues up 5.3% and operating income climb 7.7% versus 4Q24.
Spin by OXXO active users reached 10.5 million (+22.0%) and Spin Premia loyalty users hit 28.1 million (+13.8%), with OXXO Mexico tender at 49.3% (vs. 40.7% in 4Q24).
Coca-Cola FEMSA delivered Q4 revenue growth of 2.9% and a 13.3% rise in operating income year-over-year.

1 day ago

Press Release

Coca-Cola outlines 2026 guidance and strategic priorities

Guidance Update

Free Cash Flow

Revenue Acceleration/Inflection

2026 guidance targets 4–5% organic revenue growth, 7–8% comparable EPS growth, and ~$12.2 B free cash flow (Non-GAAP).
Since 2017, Coca-Cola has delivered 7% average organic revenue growth vs. 4% for CPG peers, generated 2.1× cash flow vs. 1.1× peers, expanded comparable operating margin by +5 pts vs. –3 pts peers, and achieved 23% ROIC vs. 12% peers in 2025.
Free cash flow has risen from $9.7 B in 2023 to $11.4 B in 2025 (ex-fairlife payment) with a 2026 outlook of ~$12.2 B.
The long-term growth algorithm targets 4–6% organic revenue growth, 6–8% operating income growth, 7–9% EPS growth, and 90–95% adjusted FCF conversion.

Feb 17, 2026, 3:00 PM

Presentation

Coca-Cola outlines next growth chapter at CAGNY 2026

Management Change

Guidance Update

Henrique Braun, CEO-elect, highlighted three enduring strengths—industry opportunity, 32 billion-dollar brands, and a unique bottler system—and three guiding principles for the next chapter: consumer-centricity, local “Must Win Missions,” and digital integration.
The company has pruned its brand portfolio from 400+ to fewer than 170 brands, improved innovation success rates, and will accelerate insight-driven, locally sourced ideas with global scale potential.
CFO John Murphy reaffirmed 2026 targets: organic revenue growth within the long-term algorithm, high single-digit EPS growth, continued brand and market investments, and sustained free cash flow generation.
The operating model remains focused on top-line growth; margin expansion via cross-enterprise procurement and modern marketing; cash flow; balance-sheet optimization through refranchising; and a new “Fuel Life 360” tool to optimize end-to-end spending with bottler partners.

Feb 17, 2026, 3:00 PM

Transcript

Coca-Cola outlines next-chapter strategy at CAGNY 2026

CEO Change

Guidance Update

Coca-Cola introduced Henrique Braun as COO and CEO-elect, succeeding James Quincey, and highlighted three enduring strengths: vast industry opportunity, the ability to build and grow billion-dollar brands, and an unmatched bottler system for global scale.
The company will pursue three new growth principles—enhanced consumer-centricity via the “4 I’s” (Insights, Innovation, Intimacy, Integration), agile local-to-global “Must Win Missions” for rapid innovation, and embedding digital in every connection—to accelerate its next chapter.
CFO John Murphy reaffirmed 2026 targets: organic revenue growth in line with its long-term algorithm and high single-digit EPS growth, bolstered by currency tailwinds, continued brand and market investments, and strong free cash flow.
Strategic financial priorities include further margin expansion through gross-margin discipline, more efficient modern marketing, an optimized asset-light model, and a new “Fuel Life 360” platform for end-to-end resource allocation and spend effectiveness.

Feb 17, 2026, 3:00 PM

Transcript

Coca-Cola outlines next chapter growth strategy at CAGNY 2026

Management Change

Guidance Update

Highlighted three enduring strengths: belief in the beverage industry’s long-term opportunity, growth of billion-dollar brands from 30 to 32, and an unparalleled bottling system driving a multiplying effect with aligned partners.
Introduced three new principles to accelerate growth: enhanced consumer-centricity via the “4 Is” (insights, innovation, intimacy, integration), embedding digital in every system connection, and a constructive discontent mindset to continually improve.
Launched a “Must Win Missions” framework to align local market development stages with brand priorities and tailored incentives, aiming to scale new billion-dollar brands more rapidly.
CFO reaffirmed 2026 financial targets: organic revenue growth within the long-term algorithm and high single-digit EPS growth, aided by currency tailwinds and robust underlying cash flow generation.

Feb 17, 2026, 3:00 PM

Transcript

Coca-Cola reports Q4 2025 results and CEO transition

Earnings

Guidance Update

Management Change

Q4 2025 financials: organic revenues +5%, unit case volume +1%, price/mix +1%, comparable EPS $0.58 (+6% YoY), free cash flow $11.4 B, and net debt leverage 1.6×.
2026 guidance: organic revenue growth of 4–5%, comparable EPS growth of 7–8% to a base of $3 in 2025, and free cash flow of ~$12.2 B with ~$2.2 B in capital investments.
Leadership change: James Quincey steps down with Q4 call as CEO, transitioning to Executive Chair; Enrique Braun named next CEO of The Coca-Cola Company.
Capital allocation emphasizes long-term investment and shareholder returns: 63 years of consecutive dividend increases (2025 payout ratio 73% of adj. FCF), disciplined share buybacks, and growth-oriented capex including bottler investments.
Strategic positioning includes a portfolio of 32 billion-dollar brands (75% outside sparkling), 7% avg. organic revenue growth since 2017, and focus on digitization, franchising, and consumer engagement.

Feb 10, 2026, 1:30 PM

Transcript

Coca-Cola reports Q4 2025 margin results

Earnings

Consolidated gross margin for Q4 2025 was 60.0% GAAP (60.0% comparable non-GAAP), with underlying margin expanding ~120 bps driven by organic revenue growth, offset by currency headwinds and divestiture impacts.
Consolidated operating margin for Q4 2025 was 15.6% GAAP, down due to an impairment of the BODYARMOR® trademark and economic hedging, while comparable non-GAAP operating margin rose to 24.4% with underlying expansion of ~210 bps.
Items impacting comparability primarily reflect economic hedging activities and trademark impairment, and the acquisitions/divestitures tailwind was mainly from the sale of finished-product operations in Nigeria.

Feb 10, 2026, 1:30 PM

Presentation

Coca-Cola reports Q4 2025 results and 2026 guidance

Earnings

Guidance Update

Management Change

In Q4 2025, Coca-Cola delivered 5% organic revenue growth, driven by 1% unit case growth and underlying 4% pricing, despite a 3-point mix headwind, and achieved comparable EPS of $0.58, up 6% year-over-year amid a 5-point currency headwind.
For full-year 2025, volume was flat, comparable EPS grew 4%, free cash flow was $11.4 billion (93% conversion), and net debt leverage stood at 1.6× EBITDA, below target.
2026 guidance includes 4–5% organic revenue growth, 7–8% comparable EPS growth (currency-neutral, excluding acquisitions/divestitures), and $12.2 billion of free cash flow, with continued dividend growth.
Leadership transition: Henrique Braun to become CEO (from COO), with James Quincey moving to Executive Chair; focus areas include talent recruitment, innovation pipeline, and digital-first consumer engagement.

Feb 10, 2026, 1:30 PM

Transcript

Coca-Cola announces Q4 2025 results and CEO transition

Earnings

CEO Change

Guidance Update

CEO transition: James Quincey will move to Chairman and COO Henrique Braun is named CEO-elect, reflecting a planned leadership succession.
2025 performance: Delivered on top- and bottom-line guidance with organic revenue growth in line with its long-term algorithm, flat unit case volume that improved in Q4, strong comparable operating margin expansion, and 4% comparable EPS growth despite a 5-point currency headwind and a 2-point tax rate increase.
Q4 financials: Organic revenues rose 5%, unit case growth 1%, and price/mix growth 1%; comparable Q4 EPS was $0.58 (+6% YoY); full-year free cash flow was $11.4 billion with 93% conversion and net debt leverage of 1.6×.
2026 guidance: Forecasts 4–5% organic revenue growth, 5–6% comparable currency-neutral EPS growth (7–8% including divestiture impacts vs $3 in 2025), and approximately $12.2 billion free cash flow.