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COCA COLA (KO)

The Coca-Cola Company is a total beverage company with products sold in more than 200 countries and territories. It operates in two main lines of business: concentrate operations and finished product operations. The company sells beverage concentrates and syrups to authorized bottling partners, as well as sparkling soft drinks and other beverages directly to retailers, distributors, and wholesalers . Its product lines include sparkling soft drinks, juice, value-added dairy, plant-based beverages, water, sports drinks, coffee, tea, and emerging beverages .

  1. Concentrate Operations - Sells beverage concentrates and syrups to authorized bottling partners, who produce and package the finished beverages.
  2. Finished Product Operations - Sells sparkling soft drinks and other beverages directly to retailers, distributors, and wholesalers.
  3. Sparkling Soft Drinks - Offers popular brands such as Coca-Cola, Diet Coke, Coca-Cola Zero Sugar, Fanta, and Sprite.
  4. Juice, Value-Added Dairy, and Plant-Based Beverages - Includes brands like Minute Maid and Simply.
  5. Water, Sports, Coffee, and Tea Brands - Features products such as Dasani, Powerade, and Costa.
  6. Emerging Beverages - Includes new offerings like Topo Chico Hard Seltzer.
  7. Direct-to-Consumer Sales - Engages in retail through Costa-operated stores, part of its Global Ventures operating segment.

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NamePositionExternal RolesShort Bio

Beatriz Perez

ExecutiveBoard

Executive Vice President and Global Chief Communications, Sustainability, and Strategic Partnerships Officer

Beatriz Perez is a seasoned executive at The Coca-Cola Company, serving as the Executive Vice President and Global Chief Communications, Sustainability, and Strategic Partnerships Officer since January 2024. She has a distinguished career with over three decades at the company, having held key roles such as Chief Sustainability Officer and Vice President, Global Partnerships and Licensing, Retail and Attractions. Additionally, she serves as the Chair of The Coca-Cola Foundation, emphasizing her leadership on the board and her commitment to strategic philanthropy.

James Quincey

ExecutiveBoard

Chief Executive Officer

Board Member at Pfizer Inc. (since 2020); Board Member at Special Olympics; Board Member at US-China Business Council; Board Member at Consumer Goods Forum

James Quincey is a seasoned leader at The Coca-Cola Company, serving as the Chief Executive Officer since May 2017 and as Chairman of the Board of Directors since April 2019. He began his career at the company in 1996 and has held numerous operational and strategic roles across Latin America and Europe. His extensive background in international operations, innovation, and financial strategy has been pivotal in driving the company’s growth. Additionally, he holds various board memberships outside of KO, underscoring his influence in the broader business community.

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Bruno Pietracci

Executive

President, Latin America Operating Unit

None

Joined KO in 2016, became President of Latin America in February 2023. Previously led Africa Operating Unit.

Henrique Braun

Executive

Executive Vice President and Chief Operating Officer

Henrique Braun currently serves as Executive Vice President and Chief Operating Officer at The Coca-Cola Company, a role effective January 1, 2025. He has built his career at Coca-Cola by progressing through multiple leadership positions including serving as President of the Latin America, Brazil, and Greater China & Korea business units. He joined Coca-Cola in 1996 and has extensive international experience, overseeing operations across various regions and driving strategic growth. He holds no board or committee memberships at the company.

Jennifer K. Mann

Executive

Executive Vice President and President of the North America operating unit

Jennifer K. Mann has been a dedicated leader at The Coca-Cola Company for over 27 years, progressing through roles such as Vice President and General Manager of Coca-Cola Freestyle, Chief of Staff for James Quincey, and President, Global Ventures before becoming President of the North America Operating Unit. She has driven strategic innovation and operational efficiency, reinforcing her expertise in organizational restructuring and growth initiatives. Her successive leadership roles underscore a commitment to excellence and transformative leadership within the company.

John Murphy

Executive

President

John Murphy has had a distinguished career at The Coca-Cola Company, steadily progressing through various leadership roles. He currently serves as President since October 2022 and as Chief Financial Officer since March 2019. Previously, he held executive positions including Executive Vice President, Senior Vice President and Deputy Chief Financial Officer, as well as President of the Asia Pacific Group and South Latin Business Unit. There is no information indicating that he has served on any boards or held roles outside of the company.

Lisa Chang

Executive

Executive Vice President

Lisa Chang is currently the Executive Vice President and Global Chief People Officer at The Coca-Cola Company, a role she has held since January 2024. She originally joined the company in March 2019 to lead global human resources strategy as Senior Vice President and Global Chief People Officer. Over her career, she has demonstrated significant leadership in human resources, contributing to global organizational development. Prior to her tenure at KO, she held prominent roles at AMB Group LLC and Equifax Inc., further underscoring her expertise in the field.

Manuel Arroyo

Executive

Executive Vice President

Manuel Arroyo is a seasoned executive at The Coca-Cola Company, currently serving as the Executive Vice President since January 2024 and the Global Chief Marketing Officer since January 2020. He has a diverse background that includes leadership positions in major markets such as Asia Pacific, Mexico, and Iberia. Prior to his return to Coca-Cola in February 2017, he held significant roles including CEO at Deoleo, S.A. and a senior leadership position at S.C. Johnson & Son, Inc..

Monica Howard Douglas

Executive

Executive Vice President and Global General Counsel

Monica Howard Douglas is a seasoned executive at The Coca-Cola Company, serving as the Executive Vice President and Global General Counsel since April 2021. She has built her career through a series of leadership roles at KO, including serving as Chief Compliance Officer and Associate General Counsel for the North America operating unit, Legal Director for the Southern and East Africa business unit, and Vice President of Supply Chain and Consumer Affairs and Senior Managing Counsel. Her diverse experiences in legal, compliance, and operational roles underpin her strategic contributions to the company. There is no record of her holding any board or committee memberships at KO.

Nancy Quan

Executive

Executive Vice President and Global Chief Technical and Innovation Officer

None

Joined KO in 2007, became EVP in January 2024. Focuses on technical and innovation leadership.

Nikolaos Koumettis

Executive

President, Europe operating unit

Nikolaos Koumettis currently serves as President of the Europe operating unit at The Coca-Cola Company, a role he began in January 2021. He has a long history with the company, having previously held leadership roles across multiple regions including Europe, the Middle East, and Africa. His extensive experience in managing regional operations has played a key part in driving business growth. There is no information in the documents about him holding roles outside of The Coca-Cola Company.

Amity Millhiser

Board

Independent Director

Amity Millhiser serves as an independent director at The Coca-Cola Company (KO) since July 1, 2023. She has an extensive 35+ year career at PwC, where she held senior leadership roles including Partner, Market Managing Partner, Chief Clients Officer, and Vice Chair. Her expertise spans strategic and financial matters, innovation, digital transformation, and international deal experience. Additionally, her appointment as an Audit Committee member underscores her pivotal role in corporate governance at KO.

Ana Botín

Board

Director

Executive Chair at Banco Santander, S.A.; Former CEO of Santander UK plc; Executive Chair of Banco Español de Crédito, S.A.; Board Member and Chair at Institute of International Finance; Co-founder and Chair of Fundación Empresa y Crecimiento; Founder of Fundación Empieza Por Educar

Ana Botín is a seasoned leader in the banking and financial services industry with extensive experience in strategic roles, including her current position as Director at The Coca-Cola Company since 2013. She also serves as a Finance Committee member at the company. Prior to her role at Coca-Cola, she held senior positions such as Executive Chair at Banco Santander, S.A., and was formerly the CEO of Santander UK plc, roles that underscore her impressive track record in banking. In addition, she has been involved in various international board memberships and philanthropic initiatives, highlighting her broad influence in both corporate governance and community development.

Bela Bajaria

Board

Director

Chief Content Officer, Netflix Inc.; Head of Global TV, Netflix Inc.; Senior Vice President, CBS Entertainment; President, NBCUniversal

Bela Bajaria was elected as a Director of The Coca-Cola Company (KO) on October 17, 2024. She serves on KO’s Talent and Compensation Committee, contributing her extensive industry expertise. Outside of KO, she is the Chief Content Officer at Netflix Inc. and has served as Head of Global TV at Netflix, Senior Vice President at CBS Entertainment, and President of Universal Television at NBCUniversal. Her leadership has earned her recognition, including being named one of Time’s 100 Most Influential People of 2022 and a regular on Fortune’s Powerful Women list.

Caroline J. Tsay

Board

Independent Director

Board Director at Morningstar, Inc. (since 2017); Former CEO of Compute Software, Inc. (2017-2022); Former Vice President and General Manager at Hewlett Packard Enterprise (2013-2016); Former Senior Director of Product Management at Yahoo! Inc. (2007-2013); Former Senior Consultant at IBM

Caroline J. Tsay is an Independent Director at The Coca-Cola Company (KO) since 2018. She has extensive leadership experience in technology and enterprise software through roles such as CEO of Compute Software, Inc., Vice President and General Manager at Hewlett Packard Enterprise, and Senior Director of Product Management at Yahoo! Inc.. Her background reflects a strong focus on corporate governance and risk management, contributing to her roles on various committees including KO's Audit Committee. Additionally, her ongoing board membership at Morningstar, Inc. demonstrates her broad influence across multiple industries.

Carolyn Everson

Board

Independent Director

Board Member at The Walt Disney Company; Board Member at Under Armour, Inc.

Carolyn Everson is an accomplished leader with extensive experience in marketing, innovation, and technology, having held senior roles at Instacart, Facebook (now Meta Platforms), Microsoft, MTV Networks, and Primedia. At KO, she serves as an independent director and is a member of the Talent and Compensation Committee since July 19, 2022. Her career has been marked by leading global business strategies and advertising initiatives across major consumer-facing companies. Outside of KO, she also brings her expertise to board roles, enhancing corporate governance at other prominent organizations.

Christopher C. Davis

Board

Independent Director

Chairman of Davis Selected Advisers, L.P. since 1997; Portfolio Manager of Davis Selected Advisers, L.P. since 1995; Director at Berkshire Hathaway Inc. since 2021; Lead Independent Director at Graham Holdings Company since 2006

Christopher C. Davis serves as an independent director at The Coca-Cola Company since 2018. He brings over 30 years of experience in investment management and corporate governance, which includes significant expertise in strategic financial oversight. Prior to his role at KO, he held key positions such as Chairman and Portfolio Manager at Davis Selected Advisers, L.P.. Additionally, his board roles at Berkshire Hathaway Inc. and Graham Holdings Company underscore his broad influence in the industry.

David B. Weinberg

Board

Independent Director

Chairman and CEO at Judd Enterprises, Inc.; President at Digital Bandwidth LLC; Partner at Mayer, Brown & Platt

David B. Weinberg is an independent director at The Coca-Cola Company (KO) since 2015. He serves as Audit Committee Chair and as a member of the Corporate Governance and Sustainability Committee, playing a key role in overseeing KO's financial and compliance practices. With a broad background in strategic leadership, he has held significant roles such as Chairman and CEO at Judd Enterprises, Inc. and President at Digital Bandwidth LLC. His extensive experience in risk management, regulatory oversight, and international investment further enhances his contributions at KO.

Herb Allen

Board

Independent Director

President and Chief Executive Officer of Allen & Company LLC; Alternate Director on the board of Grupo Televisa, S.A.B.; Former Board Member on the board of Coca-Cola FEMSA, S.A.B. de C.V.

Herb Allen serves as an Independent Director at The Coca-Cola Company (KO) since 2021. He actively contributes to the company’s oversight by serving on both the Corporate Governance and Sustainability Committee and the Finance Committee. Beyond his KO role, he is the President and Chief Executive Officer of Allen & Company LLC since 2002 and has extensive experience in investment banking and strategic advisory roles. Additionally, his background includes board appointments with Grupo Televisa, S.A.B. and Coca-Cola FEMSA, S.A.B. de C.V., further showcasing his industry leadership.

Maria Elena Lagomasino

Board

Lead Independent Director

CEO and Managing Partner at WE Family Offices; CEO at GenSpring Family Offices, LLC; Chairman and CEO at J.P. Morgan Private Bank; Director at The Walt Disney Company

Maria Elena Lagomasino is a seasoned financial services leader with over 40 years of experience. She currently serves as the Lead Independent Director at The Coca-Cola Company since 2019 and has been a member of the Board of Directors since 2015. She plays a key role in board and management succession planning, risk oversight, and shareowner engagement. Additionally, her career includes executive positions outside of KO, demonstrating her longstanding expertise in financial management and corporate governance.

Thomas S. Gayner

Board

Director

CEO of Markel Group Inc. (since January 2023); Director of Graham Holdings Company (since 2007); Director of Davis Funds (since 2004); Former Director of Cable One, Inc. (2015-2023); Former Director of Colfax Corporation (2008-2022)

Thomas S. Gayner has been serving as a Director at The Coca-Cola Company since July 19, 2023. He also serves on the Finance Committee at KO, a role he began on the same date. With over 30 years of experience in financial reporting, investment strategies, and corporate governance, he brings a wealth of expertise to his board responsibilities. Outside of KO, he has held prominent leadership roles, including serving as CEO at Markel Group Inc. and holding board positions at multiple companies.

  1. With fairlife surpassing $1 billion in sales and significantly impacting your North American mix, how do you plan to sustain its growth given capacity constraints and tough year-over-year comparisons, especially before the New York plant becomes operational?

  2. Given the recent food contamination issues at McDonald's, your largest customer, how are you preparing to mitigate potential impacts on your business, and do you foresee any long-term repercussions in affected markets?

  3. With higher net interest expenses due to deposits related to the ongoing IRS tax dispute and the upcoming fairlife contingent consideration payment, how are these factors impacting your financial outlook, and what steps are you taking to resolve the IRS dispute promptly?

  4. Observing softness in discretionary spending in North America, especially in small-format stores and foodservice, how are you adjusting your strategies to address potential declines in impulse purchases and revitalize consumer spending in these channels?

  5. While your U.S. carbonated soft drink business is currently outperforming, how sustainable is this growth given the market shifts towards healthier options, and what strategies are you implementing to maintain relevance among younger consumers who may prefer non-carbonated beverages?

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, CHD +19 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 +26 more

Robert Ottenstein

Evercore ISI

4 questions for KO

Also covers: ABEV, BUD, CCEP +13 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 +24 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

Kevin Grundy

BNP Paribas

2 questions for KO

Also covers: CELH, CHD, CL +8 more

Carlos Alberto Laboy

HSBC

1 question for KO

Also covers: KOF, STZ

Carlos Laboy

HSBC

1 question for KO

Also covers: ABEV, CCEP, FMX +2 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 +19 more
Program DetailsProgram 1
Approval DateFebruary 2019
End Date/DurationN/A
Total additional amount150 million shares
Remaining authorization84,844,097 shares
DetailsOffset dilution from employee stock-based compensation plans

Competitors mentioned in the company's latest 10K filing.

CompanyDescription

In many of the countries in which we do business, this company is a primary competitor.

Nestlé S.A.

This company is one of the significant competitors in the commercial beverage industry.

This company is listed as a significant competitor in the commercial beverage industry.

Danone S.A.

This company is mentioned as a significant competitor in the commercial beverage industry.

Suntory Beverage & Food Limited

This company is identified as a significant competitor in the commercial beverage industry.

This company is noted as a significant competitor in the commercial beverage industry.

Kirin Holdings

This company is recognized as a significant competitor in the commercial beverage industry.

Heineken N.V.

This company is acknowledged as a significant competitor in the commercial beverage industry.

This company is considered a significant competitor in the commercial beverage industry.

Red Bull GmbH

This company is mentioned as a significant competitor in the commercial beverage industry.

NameStart DateEnd DateReason for Change
Ernst & Young LLP1921 PresentCurrent auditor

Notable M&A activity and strategic investments in the past 3 years.

CompanyYearDetails

Certain brands in the Asia Pacific region

2023

The Coca-Cola Company acquired certain brands in the Asia Pacific region in May 2023, which has been integrated into the net operating revenues and Asia Pacific segment analysis. No deal value or further asset details were disclosed.

Controlling interest in a bottling operation in Malawi

2022

The Coca-Cola Company acquired a controlling interest in a Malawian bottling operation in August 2022, with the transaction treated as a structural change in the Bottling Investments segment, although specific deal terms were not provided.

BodyArmor

2021

Coca-Cola's acquisition of BodyArmor in 2021 was strategically aimed at capturing growth in the U.S. sports drink market by complementing its Powerade brand, using a previously minority-held stake to expand BodyArmor’s market share and drive international expansion; regulatory approval was a noted condition.

fairlife, LLC

2020

Coca-Cola acquired the remaining 57.5% interest in fairlife, LLC in 2020 for $979 million in cash (net of cash acquired) plus settling a $306 million note receivable, and committed to contingent milestone payments; the acquisition provided fair value gains, new trademarks, and goodwill to support its high-growth dairy portfolio.

Recent press releases and 8-K filings for KO.

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 $211 million to shareholders via share repurchases and dividends.
4 days ago
Coca-Cola reports Q3 2025 results
·$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$3.4 billion for 100% of the equity.
  • Coca-Cola will divest 41.52% of its 66.52% stake, while Gutsche Family Investments will sell 33.48%, and Coca-Cola HBC AG will have an option to acquire the remaining 25% within six years of closing.
  • The transaction is expected to close by the end of 2026, subject to regulatory approvals.
  • Following closing, bottling investments are projected to represent approximately 5% of consolidated net revenue, down from 13% in 2024, as part of Coca-Cola’s ongoing refranchising strategy.
Oct 21, 2025, 6:00 AM
Coca-Cola COO outlines growth priorities at Barclays Consumer Staples Conference
·$KO
  • Strategic priorities: COO Enrique Bran focuses on sustaining system momentum through close alignment with bottlers and unlocking future growth by stepping up CapEx over NSR and advancing digital transformation across consumer, customer, and enterprise pillars.
  • Volume trends: FY 2025 volumes are slower than expected, with slight negatives in Q2 in key markets (Mexico, India, Vietnam, Thailand); emphasis remains on growing quality volume via balanced brand, packaging, segmentation, and price-mix.
  • Emerging markets growth: Coca-Cola employs a consumer-centric growth flywheel to expand industry share in developing markets, transferring successful innovations (e.g., Topo Chico, Powerade/BodyArmor) locally and investing ahead in capacity and capabilities.
  • M&A and brand scaling: Of the 30 $1 billion brands, 15 were developed internally and 15 acquired; 12 acquired brands—including Fairlife and Santa Clara—were successfully scaled post-deal by targeting consumer white spaces informed by past M&A learnings.
  • Digital transformation: The company is driving business transformation through AI-led campaigns (e.g., Masterpiece, Christmas AI ads), digitized bottler sales platforms, and an upcoming Digicon event for sharing system best practices.
Sep 3, 2025, 7:24 PM
Coca-Cola HBC reports strong H1 2025 results
·$KO
Earnings
Guidance Update
Revenue Acceleration/Inflection
  • Organic revenue grew 9.9% in H1 2025, driven by a 17.4% increase in emerging markets sales.
  • Emerging markets EBIT jumped 31.3%, while established markets EBIT fell 7.2% despite 2.5% revenue growth.
  • Free cash flow rose 10.1% to €242.5 million, and comparable EBIT margin expanded 70 bps to 11.6%.
  • Full-year 2025 organic revenue growth is now expected at the upper end of the 6%–8% guidance range.
Aug 6, 2025, 6:19 AM
Coca-Cola Consolidated reports Q2 and 1H 2025 results
·$KO
Earnings
  • Q2 net sales increased 3.3% to $1,855.5 M, while volume declined 0.8% year-over-year
  • Q2 gross profit rose 3.6% to $742.5 M, lifting gross margin 10 bps to 40.0%; 1H gross profit was $1,369.6 M, up 0.9%
  • Income from operations rose 5.0% to $272.1 M in Q2, boosting operating margin to 14.7%, while 1H operating income was $461.9 M, down 2.7%
  • Q2 net income was $187.4 M (+ 8.4%) with EPS of $2.15; 1H net income was $291.0 M, down 14.0%
  • Through 1H, operating cash flow was $406.2 M, with $157.4 M in capex; full-year capex guidance is $300 M
Jul 24, 2025, 8:11 PM
Coca-Cola sees consumer resilience, reiterates guidance
·$KO
Guidance Update
Demand Weakening
  • CEO James Quincey highlighted broad-based consumer resilience globally, though volumes were under pressure in Q2 due to idiosyncratic issues in Mexico and India.
  • The company reiterated its full-year organic revenue growth forecast, anticipating a strong second half and a return to volume growth after the Q2 decline.
  • Inflation has moderated, with annual price increases implemented in Q1 at a lower rate, and pricing aligned to ensure consumers perceive fair value.
  • Coca-Cola expects to grow volumes in H2, leveraging its $30 billion brand portfolio and bottling system, following 1% global volume growth in H1 despite the Q2 drop.
Jul 22, 2025, 2:56 PM