US Market News
1週前
The Coca-Cola Company Exploring Potential Public Listing in India for Hindustan Coca-Cola Holdings Pvt. Ltd., Parent Company of its Largest Bottler in IndiaJune 1, 2026 7:00 PM
Business Wire The Coca-Cola Company announced today it is exploring a potential public listing in India of Hindustan Coca-Cola Holdings Pvt. Ltd. (HCCH), the parent company of the largest Coca-Cola bottler in India, Hindustan Coca-Cola Beverages Pvt. Ltd. (HCCB), in 2027, and the sale of a portion of its shareholding in HCCH in connection with the listing. Initial preparations are underway for a potential listing on the Bombay Stock Exchange and National Stock Exchange of India, subject to market conditions and applicable regulatory and other approvals. In July 2025, The Coca-Cola Company completed a transaction in which Jubilant Bhartia Group, an Indian family-owned conglomerate with presence in diverse sectors and strong relationships with other multinational companies, acquired a 40% stake in HCCH. The potential listing will be a significant milestone, completing the refranchising of HCCH and positioning it well to capitalize on the opportunities in the Indian market. "This announcement is another important step for HCCB,” said Sanket Ray, president, India and Southwest Asia and Emerging Large Markets Lead for The Coca-Cola Company. “Under the leadership of our trusted partners in Jubilant Bhartia Group, following the listing the bottler will be well placed to continue to pursue growth. The Coca-Cola Company will stay invested in this important bottler and focus on growing our portfolio of global and local brands in India." Chairman and Co-Chairman of Jubilant Bhartia Group, Shyam and Hari Bhartia, added: “We are excited to take this next important step in the bottler’s journey and reap the benefits of the public listing to create value for all shareholders. Equally, we are looking forward to continuing to work with The Coca-Cola Company, as an important shareholder in the company.” HCCH, and its operating subsidiary HCCB, were established in 1997 and, as of March 31, operated a network of more than 2,000 distributors and reached over 1.7 million customers, thanks to its approximately 5,000 employees. HCCB operates 14 bottling plants across 10 states in India and works with eight co-packers. HCCB prepares, packages, distributes and sells both sparkling and still beverages, including Coca-Cola, Thums Up, Sprite, Fanta, Limca, Maaza, Minute Maid and others, and is the market leader in non-alcoholic ready-to-drink beverages in the territory in which it operates. The Coca-Cola Company has retained Rothschild & Co to advise on the listing. Further details about the potential listing will be announced at a later date. About The Coca-Cola Company The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Fuze Tea, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and Santa Clara. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Instagram, Facebook and LinkedIn. About Jubilant Bhartia Group Jubilant Bhartia Group is a multi-billion dollar conglomerate with global presence in diverse sectors like Pharmaceuticals, Contract Research and Development Services, Proprietary Novel Drugs, Life Science Ingredients, Agri Products, Performance Polymers, Food Service (QSR), Food, Auto, Consulting in Aerospace and Oilfield Services. With a 43,000 person global workforce, the Group has four listed companies on Indian Stock Exchanges – Jubilant Pharmova Limited, Jubilant Ingrevia Limited, Jubilant FoodWorks Limited and Jubilant Industries Limited. The Group is deeply committed to its Corporate Social Responsibility and Sustainability initiatives. Its CSR initiatives are focused towards Primary Education, Healthcare, Skill & Community Development and Social Entrepreneurship. This announcement is not an offer to sell or a solicitation or an invitation of any offer to buy or subscribe to any securities of Hindustan Coca-Cola Holdings Pvt. Ltd. in any jurisdiction, including the United States. The securities of Hindustan Coca-Cola Holdings Pvt. Ltd. have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered absent registration or an exemption from registration. There will be no public offering of the securities in the United States. This announcement is not intended to be a prospectus (as defined under the Indian Companies Act, 2013) or a draft offer document/an offer document under any regulation or any other applicable law in India. This announcement may contain statements, estimates or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws. Generally, the words “aim”, “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “propose”, “plan”, “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause The Coca-Cola Company’s actual results to differ materially from its historical experience and our present expectations or projections. These risks include, but are not limited to, our ability to realize the anticipated benefits from the potential listing of Hindustan Coca-Cola Holdings Pvt. Ltd., including whether such potential listing will be completed within the anticipated timeline, if at all, and other risks discussed in our filings with the Securities and Exchange Commission (the “SEC”), including our Annual Report on Form 10-K for the year ended December 31, 2025 and our subsequently filed reports, which filings are available from the SEC. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. We disclaim any obligation and undertake no obligation to publicly update or revise any forward-looking statements. View source version on businesswire.com: https://www.businesswire.com/news/home/20260601782312/en/ The Coca-Cola Company:
Investors and Analysts: Todd Beiger, koinvestorrelations@coca-cola.com
Global media: Scott Leith, sleith@coca-cola.com
India media: Sarableen Kaur, sarkaur@coca-cola.com
Jubilant:
Sandipan Ghatak, sandipan.ghatak@jubl.com Original: The Coca-Cola Company Exploring Potential Public Listing in India for Hindustan Coca-Cola Holdings Pvt. Ltd., Parent Company of its Largest Bottler in India
US Market News
1月前
Coca-Cola Reports First Quarter 2026 Results and Updates Full Year GuidanceApril 28, 2026 6:55 AM
Business Wire
Global Unit Case Volume Grew 3%
Net Revenues Grew 12%;
Organic Revenues (Non-GAAP) Grew 10%
Operating Income Grew 19%;
Comparable Currency Neutral Operating Income (Non-GAAP) Grew 12%
Operating Margin was 35.0% versus 32.9% in the Prior Year;
Comparable Operating Margin (Non-GAAP) was 34.5% versus 33.8% in the Prior Year
EPS Grew 18% to $0.91; Comparable EPS (Non-GAAP) Grew 18% to $0.86
The Coca-Cola Company today reported first quarter 2026 results. “We’ve had a strong start to the year,” said Henrique Braun, CEO of The Coca-Cola Company. “Our performance this quarter reflects our unwavering focus on staying close to the consumer, executing locally and managing complexity. Yet there’s so much more we can do as we navigate a dynamic environment. Our team is motivated by the opportunity to build on the company’s great foundation.”
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260428302424/en/
Highlights
Quarterly Performance
Revenues: Net revenues grew 12% to $12.5 billion, and organic revenues (non-GAAP) grew 10%, driven by an 8% increase in concentrate sales and 2% growth in price/mix. Concentrate sales were 5 points ahead of unit case volume, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments.
Operating margin: Operating margin was 35.0% versus 32.9% in the prior year, and comparable operating margin (non-GAAP) was 34.5% versus 33.8% in the prior year. Operating margin performance included items impacting comparability, as well as currency tailwinds. Comparable operating margin (non-GAAP) expansion was driven by organic revenue (non-GAAP) growth and lower operating expenses, partially offset by higher input costs and an increase in marketing investments.
Earnings per share: EPS grew 18% to $0.91, and comparable EPS (non-GAAP) grew 18% to $0.86. EPS performance included the impact of a 6-point currency tailwind, while comparable EPS (non-GAAP) performance included the impact of a 3-point currency tailwind.
Market share: The company gained value share in total nonalcoholic ready-to-drink (“NARTD”) beverages.
Cash flow: Cash flow from operations and free cash flow (non-GAAP) were $2.0 billion and $1.8 billion, respectively.
Company Updates
Executing locally relevant marketing at scale to drive enduring brand value: The company is sharpening its focus on leveraging unique insights to deliver impactful marketing during culturally meaningful occasions. In China, reflecting the importance of family and togetherness during Chinese New Year, an AI-enabled campaign inspired by traditional Chinese paper art invited consumers to create personalized digital friend and family portraits through connected Coca-Cola packaging. Across markets observing Ramadan, activations reflected insights around generosity, community and shared meals. In Türkiye, a digitally led campaign invited consumers to share recipes that inspired chef-led food donations; in Egypt, the company set a Guinness World Record for the most community meals served in one hour; and in Indonesia, pairing Fanta with Ramadan nights supported at-home and away-from-home celebrations. In Brazil, Sprite delivered double-digit volume growth, supported by brand-led activations tied to the country’s deep cultural connection to Carnival and summer festivals. During March Madness in the United States, the company leveraged consumer passion for sports and live entertainment to activate its “Fan Work is Thirsty Work” platform with Coca-Cola and BODYARMOR, supported by the March Madness Music Festival alongside the Men’s Final Four. By leveraging key consumption occasions and local insights to deepen consumer connection, the company increased weekly drinkers and gained value share globally during the quarter.
Progressing toward more balanced growth by remaining consumer centric: Alongside strong brand building, innovation and integrated execution, the company and its bottling partners continue to harness all levers of revenue growth management to drive topline growth. During the quarter, by strengthening brand, price, pack and channel options, the company and its bottling partners provided compelling value and premium offerings to consumers. In the Philippines, single-serve Coca-Cola Zero Sugar packs grew double digits and delivered away-from-home volume growth, while packages bundled with collectible glassware in Thailand helped drive at-home volume growth. In South Africa and India, the company continued to expand its use of ultra-lightweight bottles, which supported volume growth in both markets. In North America, mini-can volume grew high single digits following the launch of single-serve mini-cans in convenience retail stores, and, in the United Kingdom, the launch of a new premium single-serve 500ml “Superfan” can featuring Premier League-themed packaging contributed to volume growth. Collectively, these actions reflect the company’s heightened focus on harnessing revenue growth management to increase consumer recruitment and deliver more balanced growth over time across both unit case volume and price/mix.
Operating Review – Three Months Ended April 3, 2026
Revenues and Volume
Percent Change
Concentrate Sales1
Price/Mix
Currency Impact
Acquisitions and Divestitures
Reported Net Revenues
Organic Revenues2
Unit Case Volume3
Consolidated
8
2
3
(1)
12
10
3
Europe, Middle East & Africa
5
5
6
(3)
13
11
2
Latin America
7
1
5
0
14
9
1
North America
11
1
0
0
12
12
4
Asia Pacific
10
(6)
2
0
6
5
5
Bottling Investments
11
(1)
4
(2)
12
10
1
Operating Income and EPS
Percent Change
Reported
Operating
Income
Items Impacting Comparability
Currency Impact
Comparable
Currency Neutral
Operating
Income2
Consolidated
19
6
1
12
Europe, Middle East & Africa
18
3
3
12
Latin America
15
4
1
9
North America
20
3
0
17
Asia Pacific
(14)
3
(1)
(17)
Bottling Investments
62
(3)
12
53
Percent Change
Reported EPS
Items Impacting Comparability
Currency Impact
Comparable Currency Neutral EPS2
Consolidated
18
0
3
15
Note: Certain rows may not add due to rounding.
1For Bottling Investments, this represents the percent change in net revenues attributable to the increase (decrease) in unit case volume computed based on total sales (rather than average daily sales) in each of the corresponding periods after considering the impact of structural changes, if any.
2Organic revenues, comparable currency neutral operating income and comparable currency neutral EPS are non-GAAP financial measures. Refer to the Reconciliation of GAAP and Non-GAAP Financial Measures section.
3Unit case volume is computed based on average daily sales.
In addition to the data in the preceding tables, operating results included the following:
Consolidated
Unit case volume grew 3%, led by China, the United States and India. Performance included the following:
Sparkling soft drinks grew 2%. Trademark Coca-Cola grew 2%, driven by growth in Asia Pacific and North America. Coca-Cola Zero Sugar grew 13%, driven by growth across all geographic operating segments. Diet Coke/Coca-Cola Light grew 6%, driven by growth in North America. Sparkling flavors grew 3%, driven by growth across all geographic operating segments.
Juice, value-added dairy and plant-based beverages declined 1%, as growth in Asia Pacific was more than offset by a decline in Europe, Middle East & Africa (“EMEA”). Growth in Santa Clara and fairlife was more than offset by the sale of the company’s finished product operations in Nigeria in the fourth quarter of 2025.
Water, sports, coffee and tea grew 5%. Water grew 5%, driven by growth across all geographic operating segments. Sports drinks grew 3%, driven by growth in North America and EMEA. Coffee was even. Tea grew 8%, driven by growth in EMEA, Latin America and Asia Pacific.
Price/mix grew 2%, primarily driven by pricing actions in the marketplace, partially offset by unfavorable mix. Concentrate sales were 5 points ahead of unit case volume, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments.
Operating income grew 19%, which included items impacting comparability and currency tailwinds. Comparable currency neutral operating income (non-GAAP) grew 12%, primarily driven by organic revenue (non-GAAP) growth and lower operating expenses, partially offset by higher input costs and an increase in marketing investments.
Europe, Middle East & Africa
Unit case volume grew 2%, primarily driven by growth in sparkling flavors and water, sports, coffee and tea.
Price/mix grew 5%, primarily driven by pricing actions in the marketplace and favorable mix. Concentrate sales were 3 points ahead of unit case volume, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments.
Operating income grew 18%, which included items impacting comparability and a currency tailwind. Comparable currency neutral operating income (non-GAAP) grew 12%, primarily driven by organic revenue (non-GAAP) growth, partially offset by an increase in marketing investments.
The company gained value share in total NARTD beverages, led by share gains in Nigeria and Germany.
Latin America
Unit case volume grew 1%, primarily driven by growth in water, sports, coffee and tea as well as sparkling flavors.
Price/mix grew 1%, primarily driven by pricing actions in the marketplace, partially offset by unfavorable mix. Concentrate sales were 6 points ahead of unit case volume, primarily due to six additional days in the quarter.
Operating income grew 15%, which included items impacting comparability and a currency tailwind. Comparable currency neutral operating income (non-GAAP) grew 9%, primarily driven by organic revenue (non-GAAP) growth, partially offset by an increase in marketing investments.
The company gained value share in total NARTD beverages, led by share gains in Brazil and Argentina.
North America
Unit case volume grew 4%, primarily driven by growth in Trademark Coca-Cola and water, sports, coffee and tea.
Price/mix grew 1%, primarily driven by pricing actions in the marketplace, partially offset by unfavorable mix. Concentrate sales were 7 points ahead of unit case volume, primarily due to six additional days in the quarter.
Operating income grew 20%, which included items impacting comparability. Comparable currency neutral operating income (non-GAAP) grew 17%, primarily driven by organic revenue (non-GAAP) growth and lower operating expenses, partially offset by higher input costs and an increase in marketing investments.
The company gained value share in total NARTD beverages, led by share gains in Trademark Coca-Cola, sparkling flavors and water, sports, coffee and tea.
Asia Pacific
Unit case volume grew 5%, driven by growth across all global beverage categories.
Price/mix declined 6%, primarily driven by unfavorable mix and affordability initiatives. Concentrate sales were 5 points ahead of unit case volume, primarily due to six additional days in the quarter, partially offset by the timing of concentrate shipments.
Operating income declined 14%, which included items impacting comparability and a currency tailwind. Comparable currency neutral operating income (non-GAAP) declined 17%, primarily driven by higher input costs and marketing investments.
Value share in total NARTD beverages for the company was even, as gains in Japan and South Korea were offset by declines in India and Vietnam.
Bottling Investments
Unit case volume grew 1%, largely due to growth in Africa, partially offset by the impact of refranchising bottling operations.
Price/mix declined 1%, primarily driven by unfavorable mix, partially offset by pricing actions in the marketplace.
Operating income grew 62%, which included items impacting comparability, a currency tailwind and the impact of refranchising bottling operations. Comparable currency neutral operating income (non-GAAP) grew 53%, primarily driven by organic revenue (non-GAAP) growth and effective cost management, partially offset by higher input costs.
Outlook
The 2026 outlook information provided below includes forward-looking non-GAAP financial measures, which management uses in measuring performance. The company is not able to reconcile full year 2026 projected organic revenues (non-GAAP) to full year 2026 projected reported net revenues, full year 2026 projected comparable net revenues (non-GAAP) to full year 2026 projected reported net revenues, full year 2026 projected underlying effective tax rate (non-GAAP) to full year 2026 projected reported effective tax rate, full year 2026 projected comparable currency neutral EPS excluding acquisitions and divestitures (non-GAAP) to full year 2026 projected reported EPS, or full year 2026 projected comparable EPS (non-GAAP) to full year 2026 projected reported EPS without unreasonable efforts because it is not possible to predict with a reasonable degree of certainty the exact timing and exact impact of acquisitions and divestitures throughout 2026; the exact timing and exact amount of items impacting comparability throughout 2026; and the exact impact of fluctuations in foreign currency exchange rates throughout 2026. The unavailable information could have a significant impact on the company’s full year 2026 reported financial results.
Full Year 2026
The company expects to deliver organic revenue (non-GAAP) growth of 4% to 5%. — No Update
For comparable net revenues (non-GAAP), the company expects a 1% to 2% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 4% headwind from acquisitions and divestitures. This assumes the pending sale of Coca-Cola Beverages Africa ("CCBA") closes during the second half of 2026, subject to regulatory approvals. — Updated
The company’s underlying effective tax rate (non-GAAP) is estimated to be 19.9%. This does not include the impact of ongoing tax litigation with the U.S. Internal Revenue Service, if the company were not to prevail. — Updated
The company expects to deliver comparable currency neutral EPS excluding acquisitions and divestitures (non-GAAP) growth of 6% to 7% and comparable EPS (non-GAAP) growth of 8% to 9% versus $3.00 in 2025. — Updated
Comparable EPS (non-GAAP) percentage growth is expected to include an approximate 3% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 1% headwind from acquisitions and divestitures. This assumes the pending sale of CCBA closes during the second half of 2026, subject to regulatory approvals. — No Update
The company expects to generate free cash flow (non-GAAP) of approximately $12.2 billion. This consists of cash flow from operations of approximately $14.4 billion, less capital expenditures of approximately $2.2 billion. — No Update
Second Quarter 2026 Considerations
Comparable net revenues (non-GAAP) are expected to include an approximate 1% currency tailwind based on the current rates and including the impact of hedged positions, in addition to an approximate 1% headwind from acquisitions and divestitures.
Comparable EPS (non-GAAP) percentage growth is expected to include an approximate 3% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 1% headwind from acquisitions and divestitures.
Notes
All references to growth rate percentages and share compare the results of the period to those of the prior year comparable period, unless otherwise noted.
All references to volume and volume percentage changes indicate unit case volume, unless otherwise noted. All volume percentage changes are computed based on average daily sales, unless otherwise noted. “Unit case” means a unit of measurement equal to 192 U.S. fluid ounces of finished beverage (24 eight-ounce servings), with the exception of unit case equivalents for Costa non-ready-to-drink beverage products, which are primarily measured in number of transactions. “Unit case volume” means the number of unit cases (or unit case equivalents) of company beverages directly or indirectly sold by the company and its bottling partners to customers or consumers.
“Concentrate sales” represents the amount of concentrates, syrups, beverage bases, source waters and powders/minerals (in all instances expressed in unit case equivalents) sold by, or used in finished beverages sold by, the company to its bottling partners or other customers. For Costa non-ready-to-drink beverage products, “concentrate sales” represents the amount of beverages, primarily measured in number of transactions (in all instances expressed in unit case equivalents), sold by the company to customers or consumers. In the reconciliation of reported net revenues, “concentrate sales” represents the percent change in net revenues attributable to the increase (decrease) in concentrate sales volume for the geographic operating segments after considering the impact of acquisitions and divestitures, if any. For the Bottling Investments operating segment, this represents the percent change in net revenues attributable to the increase (decrease) in unit case volume computed based on total sales (rather than average daily sales) in each of the corresponding periods after considering the impact of structural changes, if any. The Bottling Investments operating segment reflects unit case volume growth for consolidated bottlers only.
“Price/mix” represents the change in net operating revenues caused by factors such as price changes, the mix of products and packages sold, and the mix of channels and geographic territories where the sales occurred.
First quarter 2026 financial results were impacted by six additional days as compared to first quarter 2025, and fourth quarter 2026 financial results will be impacted by six fewer days as compared to fourth quarter 2025. Unit case volume results for the quarters are not impacted by the variances in days due to the average daily sales computation referenced above.
Conference Call
The company is hosting a conference call with investors and analysts to discuss first quarter 2026 operating results today, April 28, 2026, at 8:30 a.m. ET. The company invites participants to listen to a live webcast of the conference call on the company’s website, http://www.coca-colacompany.com, in the “Investors” section. An audio replay in downloadable digital format and a transcript of the call will be available on the website within 24 hours following the call. Further, the “Investors” section of the website includes certain supplemental information and a reconciliation of non-GAAP financial measures to the company’s results as reported under GAAP, which may be used during the call when discussing financial results.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260428302424/en/
Investors and Analysts: Todd Beiger, koinvestorrelations@coca-cola.com
Media: Scott Leith, sleith@coca-cola.com
Original: Coca-Cola Reports First Quarter 2026 Results and Updates Full Year Guidance
iHub News
1月前
Markets search for direction as geopolitics and earnings dominate focus: Dow Jones, S&P, Nasdaq, Wall Street FuturesApril 28, 2026 5:26 AM
IH Market News
Futures tied to major U.S. equity indices traded mixed on Tuesday, as investors weighed reports that U.S. President Donald Trump is dissatisfied with Iran’s latest proposal to end their two-month conflict. At the same time, corporate developments and central bank signals added to the market’s cautious tone. OpenAI reportedly fell short of internal revenue targets, while BP (NYSE:BP) shares advanced on stronger oil and gas prices. Meanwhile, the Bank of Japan kept interest rates unchanged but signaled a readiness to tighten policy if inflation persists.
Futures drift amid oil gains and earnings anticipation
By 03:28 ET, Dow futures were little changed, S&P 500 futures were down 14 points, or 0.2%, and Nasdaq 100 futures had fallen 117 points, or 0.4%.In the previous session, the S&P 500 and Nasdaq Composite posted gains, while the Dow Jones Industrial Average declined.Investors are also preparing for one of the busiest weeks of the earnings season, with roughly 35% of S&P 500 companies due to report results. On Monday, Verizon (NYSE:VZ) raised its full-year profit outlook, while Domino’s Pizza (NASDAQ:DPZ) warned of weaker growth, sending its shares down 8.8%. Upcoming reports from Visa (NYSE:V), Coca-Cola (NYSE:KO) and T-Mobile US (NASDAQ:TMUS) are expected to draw attention.Tech giants will take center stage later in the week, offering insights into ongoing investment in artificial intelligence infrastructure—spending that has helped support markets despite geopolitical tensions and energy-related risks.
Trump weighs Iran proposal as tensions persist
Reports indicated that Trump is unhappy with Iran’s latest offer, which would end hostilities and reopen the Strait of Hormuz but delay discussions on Tehran’s nuclear program.Trump has repeatedly emphasized that dismantling Iran’s nuclear capabilities—particularly any pathway to a nuclear weapon—has been a key objective of the joint U.S.-Israeli offensive launched in late February. Reuters, citing a U.S. official, said this stance has led to dissatisfaction with the proposal.Hopes for renewed diplomatic engagement were also dampened after Trump canceled plans to send negotiators to Pakistan for fresh talks. Iran’s foreign minister visited Islamabad twice over the weekend before meeting Russian President Vladimir Putin on Monday and securing support.Despite these efforts, the Strait of Hormuz remains largely closed to shipping. The waterway, which carries roughly one-fifth of global oil supply, has been heavily restricted for weeks, pushing crude prices significantly higher.This has intensified concerns about an energy-driven inflation surge that could force central banks to raise interest rates. Brent crude futures continued to rise on Tuesday.
OpenAI falls short of internal growth targets
OpenAI has missed internal benchmarks for both user growth and revenue, according to a report by The Wall Street Journal, raising questions about the sustainability of its heavy spending plans.The company reportedly failed to reach its goal of one billion weekly active users for ChatGPT by the end of 2025 and also missed several monthly revenue targets earlier this year.CFO Sarah Friar is said to have warned executives that slower revenue growth could make it difficult to fund future data center commitments. Board members have also raised concerns over recent infrastructure deals and CEO Sam Altman’s push for additional computing capacity.These developments come as OpenAI moves toward a potential IPO later this year, prompting leadership to focus more closely on cost control and operational discipline.
BP shares rise on strong profit growth
BP (NYSE:BP) shares moved higher in London, supported by elevated oil and gas prices that drove a sharp increase in earnings.The company reported underlying replacement cost profit of $3.2 billion, more than double the $1.38 billion recorded a year earlier, highlighting the benefit of tighter global crude supply.
Bank of Japan holds rates but signals tightening bias
The Bank of Japan left its policy rate unchanged at 0.75%, in line with expectations, but warned that slowing growth and rising inflation linked to Middle East tensions could influence future decisions.The vote was not unanimous, with three members of the nine-person board supporting a rate increase—marking the highest level of dissent since 2016.The central bank stated that “[g]iven that underlying inflation has been approaching 2% and real interest rates are at significantly low levels,” it will “continue to raise its policy rate in response to developments in the economy, prices and financial conditions.”Analysts at Capital Economics said: “While the Bank of Japan left interest rates unchanged today, its Outlook report was hawkish and we’re sticking to our forecast that the Bank will hike rates in June.”BP stock priceVerizon Communications stock priceDomino’s Pizza stock priceVisa stock priceCoca-Cola stock priceT-Mobile US stock price
Original: Markets search for direction as geopolitics and earnings dominate focus: Dow Jones, S&P, Nasdaq, Wall Street Futures
US Market News
2月前
The Coca-Cola Company Selects New Global Chief People OfficerApril 14, 2026 6:55 AM
Business Wire
The Coca-Cola Company today announced that Tapaswee Chandele will become global chief people officer, succeeding Lisa Chang, who will step down after a seven-year tenure.
The change takes effect May 1.
Chandele currently serves as senior vice president and executive assistant to President and Chief Financial Officer John Murphy, a role she has held since May 2025. Prior to that, from 2019 to 2025, Chandele was senior vice president of global talent, development and HR system partnerships, responsible for the company’s worldwide talent management strategy. In that role, Chandele was a member of Chang’s leadership team.
Chandele joined Coca-Cola in 2001 in her native India and went on to work in various human resources and talent development roles. She was based in Türkiye and South Africa before moving to the United States in 2017.
Chandele serves on the board of Hindustan Coca-Cola Beverages in India.
In addition to her duties for Coca-Cola, Chandele serves on the board of directors for Agnes Scott College in Decatur, Ga.
Chandele earned an MBA in human resources and industrial relations from Symbiosis Institute of Business Management in India. She also earned a Master of Science degree in biochemistry and clinical nutrition from Seth G.S. Medical College and King Edward Memorial Hospital and a Bachelor of Science degree from Sophia College for Women, both in India.
Chandele will report to CEO Henrique Braun.
About Lisa Chang
Chang will stay with the company through the end of 2026 as a senior advisor, and she will also serve on the board of The Coca-Cola Foundation.
Prior to joining Coca-Cola in 2019, Chang served as senior vice president and chief human resources officer for AMB Group LLC in Atlanta, the investment management and shared services arm of The Blank Family of Businesses, including AMB Sports & Entertainment, the Atlanta Falcons, Atlanta United FC and Mercedes-Benz Stadium.
At AMB Group, Chang led HR strategy for all AMB businesses, including the launches of Atlanta United and the 2017 opening of Mercedes-Benz Stadium.
Prior to joining AMB Group in 2014, Chang held senior HR leadership roles at Equifax, Turner Broadcasting System, Inc., and The Weather Channel Companies.
In addition to her board service on The Coca-Cola Foundation, Chang is a member of the board of the Atlanta Symphony Orchestra and is a past board member of Frontier Communications, Catalyst, Inc., and Coca-Cola Scholars Foundation.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Fuze Tea, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and Santa Clara. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Instagram, Facebook and LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260414291839/en/
Investors and Analysts: Todd Beiger, koinvestorrelations@coca-cola.com
Media: Scott Leith, sleith@coca-cola.com
Original: The Coca-Cola Company Selects New Global Chief People Officer
US Market News
3月前
NBA and The Coca-Cola Company Announce Multiyear Global PartnershipMarch 17, 2026 9:30 AM
Business Wire
Sprite Returns as League’s Official Global Soft Drink
The National Basketball Association (NBA) and The Coca-Cola Company today announced a new global marketing partnership, bringing Sprite® back as the league’s Official Global Soft Drink Partner.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260317827221/en/The National Basketball Association and The Coca-Cola Company announce a new global marketing partnership, bringing Sprite® back as the league’s Official Global Soft Drink Partner.
The agreement marks the return of one of the NBA’s most iconic brand collaborations, reuniting two names that have shared a deep connection to basketball culture for decades. Sprite, the world’s leading lemon-lime soft drink, will serve as the exclusive soft drink partner of the NBA across a global footprint.
The Coca-Cola Company first partnered with the NBA in 1986, and for nearly three decades, Sprite helped shape how basketball connects with fans across sport, music, fashion and self-expression. From the cultural impact of “Obey Your Thirst” in North America, to streetball tournaments in Asia, player-led collaborations in Latin America, and culture-driven activations across Europe and Africa, Sprite’s heritage within basketball culture spans generations and continents. Sprite also served as the title sponsor of the Slam Dunk Contest at NBA All-Star from 2003-2016. Together, Sprite and the NBA helped define how brands show up authentically in the culture surrounding the game.
“Sprite has always been a brand that celebrates individuality and self-expression, values that resonate deeply with basketball fans worldwide,” said Kerry Tatlock, EVP Global Marketing Partnerships and Media, NBA. “We’re thrilled to welcome Sprite back to the NBA family and look forward to collaborating together on new ways for fans to experience the game.”
“Basketball is central to the DNA of Sprite,” said Manolo Arroyo, EVP and Global Chief Marketing Officer, The Coca-Cola Company. “Reuniting with the NBA is about co-creating what's next – experimenting with new fan experiences, exploring emerging formats and meeting the next generation where they are. Basketball is not just a game; it's a global cultural engine, and Sprite, together with the NBA, will help to fuel the moments and memories that drive it.”
Deepening its commitment to athletes who embody bold originality and individuality, Sprite is continuing to build on its existing relationship with 2026 NBA All-Star Game MVP Anthony Edwards. Edwards represents a new generation of global stars whose influence extends beyond the court, making him a natural partner for Sprite.
“I love that Sprite has always been a brand that pushes you to do things your way,” said Anthony Edwards, Minnesota Timberwolves Guard. “Being a part of this legendary partnership between Sprite and the NBA is incredible. I'm excited to represent the brand and show the next generation the power of staying true to yourself.”
Under the new agreement, Sprite will activate across NBA’s biggest global stages, including league tentpole moments, as well as international events like NBA Global Games. Through the partnership, fans will see immersive experiences, custom content series on NBA platforms, and exclusive promotions that bring them closer to NBA fandom.
The renewed collaboration builds on recent momentum, including the introduction of co-branded, limited-edition Sprite cans featuring select NBA teams in participating markets – giving fans a new way to celebrate their local fandom and regional pride. Through integrated global marketing campaigns, digital-first storytelling, retail programs and in-market fan experiences, Sprite will connect the energy of basketball directly to ultimate refreshment. The partnership builds on Sprite’s existing relationships with the NBA family, which include team partnerships with 17 NBA teams.
About the NBA
The National Basketball Association (NBA) is a global sports and media organization with the mission to inspire and connect people everywhere through the power of basketball. Built around five professional sports leagues: the NBA, WNBA, NBA G League, NBA 2K League and Basketball Africa League, the NBA has established a major international presence with games and programming available in 214 countries and territories in more than 50 languages, and merchandise for sale in more than 200 countries and territories on all seven continents. NBA rosters at the start of the 2025-26 season featured a record 135 international players from a record-tying 43 countries. The NBA’s digital assets include NBA TV, NBA.com, the NBA App and NBA League Pass. The NBA has created one of the largest social media communities in the world, with more than 2.5 billion likes and followers globally across all leagues, team and player platforms. NBA Cares, the NBA’s global social impact platform celebrating its 20th year, drives change on issues facing fans and communities in the areas of health and wellness, civic engagement, social justice and inclusion, and sustainability.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Fuze Tea, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Instagram, Facebook and LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260317827221/en/
Media Contacts:
NBA: Karel Calcote, kcalcote@nba.com
The Coca-Cola Company: Elizabeth Conway, elconway@coca-cola.com
Original: NBA and The Coca-Cola Company Announce Multiyear Global Partnership
US Market News
3月前
The Coca-Cola Company Announces Maria Elena Lagomasino Will Conclude Her Service on the Board of DirectorsMarch 16, 2026 1:30 PM
Business Wire
The Coca-Cola Company today announced that, in accordance with the company’s corporate governance guidelines, Maria Elena Lagomasino will not be renominated for election and will retire from the board in April after 18 years of service.
Lagomasino, 76, joined the board in 2008 and served as lead independent director from 2019 to 2024. With Lagomasino’s retirement April 29, there will be 12 directors standing for election at Coca-Cola’s annual meeting of shareowners.
“I know I speak for many people at our company in thanking Mel for her service to Coca-Cola,” said James Quincey, Chairman and CEO of The Coca-Cola Company. “Mel has been a great partner, a respected advisor and a vital mentor to many people. We appreciate the positive impact she’s had on Coca-Cola and wish her all the best in the future.”
Since 2013, Lagomasino has served as CEO and Managing Partner of WE Family Offices, a global family office serving high net worth families. She previously was CEO of GenSpring Family Offices, LLC, an affiliate of SunTrust Banks, Inc., from 2005 to 2012. From 2001 to 2005, she served as Chairman and CEO of JPMorgan Private Bank, a division of JP Morgan Chase & Co.
Earlier in her career, Lagomasino was Managing Director of The Chase Manhattan Bank, in charge of its Global Private Banking Group. She is a former director of Chase Manhattan Bank and is a current director of The Walt Disney Company.
“It has been an honor and a privilege to serve as a member of the board of The Coca-Cola Company,” Lagomasino said. “I look forward to watching the company’s continued success.”
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is a total beverage company with products sold in more than 200 countries and territories. Our company’s purpose is to refresh the world and make a difference. We sell multiple billion-dollar brands across several beverage categories worldwide. Our portfolio of sparkling soft drink brands includes Coca-Cola, Sprite and Fanta. Our water, sports, coffee and tea brands include Dasani, smartwater, vitaminwater, Topo Chico, BODYARMOR, Powerade, Costa, Georgia, Fuze Tea, Gold Peak and Ayataka. Our juice, value-added dairy and plant-based beverage brands include Minute Maid, Simply, innocent, Del Valle, fairlife and AdeS. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We seek to positively impact people’s lives, communities and the planet through water replenishment, packaging recycling, sustainable sourcing practices and carbon emissions reductions across our value chain. Together with our bottling partners, we employ more than 700,000 people, helping bring economic opportunity to local communities worldwide. Learn more at www.coca-colacompany.com and follow us on Instagram, Facebook and LinkedIn.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260316037478/en/
Investors and Analysts: Robin Halpern, koinvestorrelations@coca-cola.com
Media: Scott Leith, sleith@coca-cola.com
Original: The Coca-Cola Company Announces Maria Elena Lagomasino Will Conclude Her Service on the Board of Directors
US Market News
4月前
Coca-Cola Reports Fourth Quarter and Full Year 2025 ResultsFebruary 10, 2026 6:55 AM
Business Wire
Global Unit Case Volume Grew 1% for the Quarter and was Even for the Full Year
Net Revenues Grew 2% for the Quarter and 2% for the Full Year; Organic Revenues (Non-GAAP) Grew 5% for the Quarter and 5% for the Full Year
Operating Income Declined 32% for the Quarter and Grew 38% for the Full Year; Comparable Currency Neutral Operating Income (Non-GAAP) Grew 13% for the Quarter and 13% for the Full Year
Fourth Quarter EPS Grew 4% to $0.53; Comparable EPS (Non-GAAP) Grew 6% to $0.58; Full Year EPS Grew 23% to $3.04; Comparable EPS (Non-GAAP) Grew 4% to $3.00
Cash Flow from Operations was $7.4 Billion for the Full Year; Free Cash Flow (Non-GAAP) was $5.3 Billion for the Full Year; Free Cash Flow Excluding the fairlife Contingent Consideration Payment (Non-GAAP) was $11.4 Billion for the Full Year
Company Provides 2026 Financial Outlook
The Coca-Cola Company today reported fourth quarter and full year 2025 results. “I’m encouraged by our performance in 2025 which showed both the resilience and momentum that define our business,” said James Quincey, Chairman and CEO of The Coca-Cola Company. “Looking ahead, we will focus on executing our strategy even better and positioning our system for long-term success.”
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260210415728/en/
Highlights
Quarterly/Full Year Performance
Revenues: For the quarter, net revenues grew 2% to $11.8 billion, and organic revenues (non-GAAP) grew 5%, driven by a 4% increase in concentrate sales and 1% growth in price/mix. Concentrate sales were 3 points ahead of unit case volume, driven by the timing of concentrate shipments and one additional day. For the full year, net revenues grew 2% to $47.9 billion, and organic revenues (non-GAAP) grew 5%, driven by 4% growth in price/mix and a 1% increase in concentrate sales. Concentrate sales were 1 point ahead of unit case volume due to the timing of concentrate shipments.
Operating margin: For the quarter, operating margin was 15.6% versus 23.5% in the prior year, and comparable operating margin (non-GAAP) was 24.4% versus 24.0% in the prior year. For the full year, operating margin was 28.7% versus 21.2% in the prior year, while comparable operating margin (non-GAAP) was 31.2% versus 30.0% in the prior year. For the quarter, operating margin performance included items impacting comparability, including a non-cash impairment charge of $960 million related to the BODYARMOR trademark, as well as currency headwinds. For the full year, operating margin performance included items impacting comparability and currency headwinds. For both the quarter and the full year, comparable operating margin (non-GAAP) expansion was driven by organic revenue (non-GAAP) growth and effective cost management, partially offset by currency headwinds.
Earnings per share: For the quarter, EPS grew 4% to $0.53, while comparable EPS (non-GAAP) grew 6% to $0.58. EPS performance included the impact of a 9-point currency headwind, while comparable EPS (non-GAAP) performance included the impact of a 5-point currency headwind. For the full year, EPS grew 23% to $3.04, while comparable EPS (non-GAAP) grew 4% to $3.00. EPS performance included the impact of an 8-point currency headwind, while comparable EPS (non-GAAP) performance included the impact of a 5-point currency headwind.
Market share: For both the quarter and the full year, the company gained value share in total nonalcoholic ready-to-drink (“NARTD”) beverages.
Cash flow: For the full year, cash flow from operations and free cash flow (non-GAAP) were $7.4 billion and $5.3 billion, respectively, which reflects $6.1 billion of the contingent consideration payment made during the first quarter in conjunction with the acquisition of fairlife, LLC (“fairlife”) in 2020 (“fairlife contingent consideration payment”). Free cash flow excluding the fairlife contingent consideration payment (non-GAAP) was $11.4 billion.
Company Updates
Recruiting the next generation of consumers through compelling local marketing platforms: During the quarter, the company used integrated marketing campaigns to drive volume growth across multiple global beverage brands. The company continues to focus on consumer passion points and key drinking occasions, coupled with strong commercial execution from bottling partners. For example, Trademark Coca-Cola’s “Rings of Magic” platform engaged younger consumers across approximately 1,500 universities in eight key markets globally, strengthening the brand’s connection to students with local “Study Break” activations. Fanta Halloween, activated in approximately 50 markets, offered immersive local experiences like “The Haunted Fanta Factory,” a limited-time only product launch, five iconic horror-themed packaging designs and increased display and shelf space. Powerade’s integrated activations at local sporting events – such as the FIFA World Cup 2026 CONMEBOL Qualifiers in Latin America and Major League Soccer playoffs in North America – offered exclusive in-person and digital experiences. These marketing activations, along with bold innovations like Powerade Power Water and Powerade Sours, drove increased shelf space, leading to sports drinks gaining global value share.
Adapting the company to drive enduring growth: To deepen market intimacy, unlock scale and deliver balanced topline growth, the company recently announced a number of key changes. First, to accelerate digital transformation and bring the business closer to consumers, the company has created the role of Chief Digital Officer. This role will unify digital, data and operational excellence, with a clear mandate to enhance speed, effectiveness and efficiency at every level – from consumers to customers to the company itself. Second, the company has appointed two seasoned operators across a set of key geographies to steward broader growth. Additionally, the company will establish innovation hubs and commercial centers of excellence in key markets across all operating segments. These collective actions aim to better position the business to recruit new consumers, lead with marketing and innovation and steer a future-ready system.
Operating Review – Three Months Ended December 31, 2025
Revenues and Volume
Percent Change
Concentrate
Sales1
Price/Mix
Currency
Impact
Acquisitions
and
Divestitures
Reported Net
Revenues
Organic
Revenues2
Unit Case
Volume3
Consolidated
4
1
(2)
(1)
2
5
1
Europe, Middle East & Africa
9
(3)
2
(3)
4
6
2
Latin America
4
6
(7)
0
3
10
2
North America
1
4
0
0
4
5
1
Asia Pacific
4
(3)
(8)
0
(7)
0
0
Bottling Investments
(2)
1
0
(2)
(2)
(1)
(6)
Operating Income and EPS
Percent Change
Reported
Operating Income
Items Impacting
Comparability
Currency Impact
Comparable
Currency Neutral
Operating
Income2
Consolidated
(32)
(38)
(8)
13
Europe, Middle East & Africa
(9)
(3)
(4)
(2)
Latin America
0
2
(15)
13
North America
(65)
(80)
0
15
Asia Pacific
(36)
(29)
(4)
(3)
Bottling Investments
(4)
1
(3)
(2)
Percent Change
Reported EPS
Items Impacting
Comparability
Currency Impact
Comparable
Currency Neutral
EPS2
Consolidated
4
(2)
(5)
11
Note: Certain rows may not add due to rounding.
1
For Bottling Investments, this represents the percent change in net revenues attributable to the increase (decrease) in unit case volume computed based on total sales (rather than average daily sales) in each of the corresponding periods after considering the impact of structural changes, if any.
2
Organic revenues, comparable currency neutral operating income and comparable currency neutral EPS are non-GAAP financial measures. Refer to the Reconciliation of GAAP and Non-GAAP Financial Measures section.
3
Unit case volume is computed based on average daily sales.
Operating Review – Year Ended December 31, 2025
Revenues and Volume
Percent Change
Concentrate
Sales1
Price/Mix
Currency
Impact
Acquisitions
and
Divestitures
Reported Net
Revenues
Organic
Revenues2
Unit Case
Volume
Consolidated
1
4
(2)
(1)
2
5
0
Europe, Middle East & Africa
4
2
0
(1)
5
6
3
Latin America
(1)
11
(12)
0
(2)
10
0
North America
(1)
5
0
0
4
4
(1)
Asia Pacific
1
4
(3)
(1)
1
5
0
Bottling Investments
0
2
(2)
(7)
(8)
1
(8)
Operating Income and EPS
Percent Change
Reported
Operating
Income
Items Impacting
Comparability
Currency Impact
Comparable
Currency Neutral
Operating
Income2
Consolidated
38
31
(7)
13
Europe, Middle East & Africa
1
(2)
(4)
7
Latin America
(1)
0
(18)
17
North America
11
1
0
10
Asia Pacific
(5)
(6)
(4)
5
Bottling Investments
(14)
0
(2)
(12)
Percent Change
Reported EPS
Items Impacting
Comparability
Currency Impact
Comparable
Currency Neutral
EPS2
Consolidated
23
19
(5)
9
Note: Certain rows may not add due to rounding.
1
For Bottling Investments, this represents the percent change in net revenues attributable to the increase (decrease) in unit case volume after considering the impact of structural changes, if any.
2
Organic revenues, comparable currency neutral operating income and comparable currency neutral EPS are non-GAAP financial measures. Refer to the Reconciliation of GAAP and Non-GAAP Financial Measures section.
In addition to the data in the preceding tables, operating results included the following:
Consolidated
Unit case volume grew 1% for the quarter, led by growth in Brazil, the United States and Japan. For the full year, unit case volume was even, as growth in Central Asia, North Africa and Brazil was offset by declines in Mexico, the United States and Thailand.
Unit case volume performance included the following:
Sparkling soft drinks were even for both the quarter and the full year. For the quarter, growth in Europe, Middle East and Africa (“EMEA”) was offset by a decline in Asia Pacific and, for the full year, growth in EMEA was offset by declines in Asia Pacific and Latin America. Trademark Coca-Cola grew 1% for the quarter and was even for the full year. For the quarter, growth was driven by all geographic operating segments and, for the full year, growth in EMEA and Asia Pacific was offset by declines in Latin America and North America. Coca-Cola Zero Sugar grew 13% for the quarter and 14% for the full year, both driven by growth across all geographic operating segments. Diet Coke/Coca-Cola Light grew 2% for the quarter and was even for the full year. For the quarter, growth was driven by North America and Asia Pacific and, for the full year, growth in North America and Asia Pacific was offset by declines in Latin America and EMEA. Sparkling flavors declined 1% for both the quarter and the full year, as growth in EMEA was more than offset by a decline in Asia Pacific.
Juice, value-added dairy and plant-based beverages declined 3% for both the quarter and the full year, as growth in Latin America was more than offset by declines in Asia Pacific and EMEA. During the quarter, growth in fairlife and Santa Clara was more than offset primarily by the sale of the company’s finished product operations in Nigeria.
Water, sports, coffee and tea grew 3% for the quarter and 2% for the full year. Water grew 4% for the quarter and 2% for the full year. For the quarter, water performance was driven by growth in Latin America, Asia Pacific and North America and, for the full year, growth in Asia Pacific, EMEA and Latin America. Sports drinks grew 5% for the quarter and 1% for the full year, both primarily driven by North America and EMEA. Coffee was even for both the quarter and the full year. For the quarter, growth in EMEA was offset by a decline in Asia Pacific and, for the full year, growth in Asia Pacific was offset by a decline in North America. Tea grew 5% during the quarter and 2% for the full year. For both the quarter and the full year, growth was driven by Latin America, Asia Pacific and EMEA.
Price/mix grew 1% for the quarter and 4% for the full year. For the quarter, performance was driven by pricing actions in the marketplace, partially offset by unfavorable mix. Concentrate sales were 3 points ahead of unit case volume due to the timing of concentrate shipments and one additional day. For the full year, performance was primarily driven by pricing actions in the marketplace. Concentrate sales were 1 point ahead of unit case volume due to the timing of concentrate shipments.
Operating income declined 32% for the quarter and grew 38% for the full year. For the quarter, operating income performance included items impacting comparability, including a non-cash impairment charge of $960 million related to the BODYARMOR trademark, as well as currency headwinds. For the full year, operating income performance included items impacting comparability and currency headwinds. Comparable currency neutral operating income (non-GAAP) grew 13% for both the quarter and the full year with performance driven by organic revenue (non-GAAP) growth and effective cost management, partially offset by an increase in marketing expenses and higher input costs.
Europe, Middle East & Africa
Unit case volume grew 2% for the quarter, primarily driven by growth in Trademark Coca-Cola and sparkling flavors.
Price/mix declined 3% for the quarter, as pricing actions in the marketplace were more than offset by unfavorable mix. For the quarter, concentrate sales were 7 points ahead of unit case volume due to the timing of concentrate shipments and one additional day.
Operating income declined 9% for the quarter, which included a currency headwind and items impacting comparability. Comparable currency neutral operating income (non-GAAP) declined 2% for the quarter, as organic revenue (non-GAAP) growth was more than offset by higher operating expenses.
For the full year, the company gained value share in total NARTD beverages, led by share gains in Egypt and Nigeria.
Latin America
Unit case volume grew 2% for the quarter, primarily driven by growth across all global beverage categories.
Price/mix grew 6% for the quarter, driven by pricing actions in the marketplace and favorable mix. For the quarter, concentrate sales were 2 points ahead of unit case volume due to one additional day and the timing of concentrate shipments.
Operating income was even for the quarter, which included items impacting comparability and a currency headwind. Comparable currency neutral operating income (non-GAAP) grew 13% for the quarter, primarily driven by organic revenue (non-GAAP) growth, partially offset by an increase in marketing expenses.
For the full year, the company gained value share in total NARTD beverages, led by share gains in Argentina and Brazil.
North America
Unit case volume grew 1% for the quarter, primarily driven by growth in water, sports, coffee and tea and Trademark Coca-Cola.
Price/mix grew 4% for the quarter, primarily driven by pricing actions in the marketplace. For the quarter, concentrate sales were in line with unit case volume, as the benefit of one additional day was offset by the timing of concentrate shipments.
Operating income declined 65% for the quarter, driven by items impacting comparability, including a non-cash impairment charge of $960 million related to the BODYARMOR trademark. Comparable currency neutral operating income (non-GAAP) grew 15% for the quarter, primarily driven by organic revenue (non-GAAP) growth, partially offset by an increase in marketing expenses.
For the full year, the company gained value share in total NARTD beverages, led by share gains in juice, value-added dairy and plant-based beverages and water, sports, coffee and tea.
Asia Pacific
Unit case volume was even for the quarter, as growth in water, sports, coffee and tea and Trademark Coca-Cola was offset by a decline in sparkling flavors.
Price/mix declined 3% for the quarter, primarily driven by the timing of investments and unfavorable mix. For the quarter, concentrate sales were 4 points ahead of unit case volume due to the timing of concentrate shipments and one additional day.
Operating income declined 36% for the quarter, which included items impacting comparability and a currency headwind. Comparable currency neutral operating income (non-GAAP) declined 3% for the quarter, primarily driven by higher input costs.
For the full year, the company gained value share in total NARTD beverages, led by share gains in the Philippines and South Korea.
Bottling Investments
Unit case volume declined 6% for the quarter, largely due to a decline in India and the impact of refranchising bottling operations.
Price/mix grew 1% for the quarter, driven by pricing actions in the marketplace, partially offset by unfavorable mix.
Operating income declined 4% for the quarter, which included a currency headwind and the impact of refranchising bottling operations. Comparable currency neutral operating income (non-GAAP) declined 2% for the quarter, primarily driven by a decline in organic revenue (non-GAAP), partially offset by a decrease in operating expenses.
Capital Allocation Update
Reinvesting in the business: The company continued to invest in its various lines of business and spent $2.1 billion on capital expenditures in 2025, an increase of 2% versus the prior year.
Continuing to grow the dividend: The company paid $8.8 billion in dividends during 2025. The company has increased its dividend in each of the last 63 years.
M&A initiatives: In 2025, the company did not make any significant acquisitions. The company continues to evaluate inorganic growth opportunities through brands and capabilities. In 2025, with respect to divestitures, the company made progress towards refranchising company-owned bottling operations and advancing its asset-light agenda.
Share repurchases: In 2025, the company issued $0.3 billion of shares in connection with the exercise of stock options by employees and purchased $0.7 billion of shares. Consequently, net share repurchases (non-GAAP) were $0.4 billion. The company’s remaining share repurchase authorization is approximately $5.2 billion.
Outlook
The 2026 outlook information provided below includes forward-looking non-GAAP financial measures, which management uses in measuring performance. The company is not able to reconcile full year 2026 projected organic revenues (non-GAAP) to full year 2026 projected reported net revenues, full year 2026 projected comparable net revenues (non-GAAP) to full year 2026 projected reported net revenues, full year 2026 projected underlying effective tax rate (non-GAAP) to full year 2026 projected reported effective tax rate, full year 2026 projected comparable currency neutral EPS excluding acquisitions and divestitures (non-GAAP) to full year 2026 projected reported EPS, or full year 2026 projected comparable EPS (non-GAAP) to full year 2026 projected reported EPS without unreasonable efforts because it is not possible to predict with a reasonable degree of certainty the exact timing and exact impact of acquisitions and divestitures throughout 2026; the exact timing and exact amount of items impacting comparability throughout 2026; and the exact impact of fluctuations in foreign currency exchange rates throughout 2026. The unavailable information could have a significant impact on the company’s full year 2026 reported financial results.
Full Year 2026
The company expects to deliver organic revenue (non-GAAP) growth of 4% to 5%.
For comparable net revenues (non-GAAP), the company expects an approximate 1% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 4% headwind from acquisitions and divestitures. This assumes the pending sale of Coca-Cola Beverages Africa ("CCBA") closes during the second half of 2026, subject to regulatory approvals.
The company’s underlying effective tax rate (non-GAAP) is estimated to be 20.9%. This does not include the impact of ongoing tax litigation with the U.S. Internal Revenue Service, if the company were not to prevail.
The company expects to deliver comparable currency neutral EPS excluding acquisitions and divestitures (non-GAAP) growth of 5% to 6% and comparable EPS (non-GAAP) growth of 7% to 8% versus $3.00 in 2025.
Comparable EPS (non-GAAP) percentage growth is expected to include an approximate 3% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 1% headwind from acquisitions and divestitures. This assumes the pending sale of CCBA closes during the second half of 2026, subject to regulatory approvals.
The company expects to generate free cash flow (non-GAAP) of approximately $12.2 billion. This consists of cash flow from operations of approximately $14.4 billion, less capital expenditures of approximately $2.2 billion.
First Quarter 2026 Considerations
Comparable net revenues (non-GAAP) are expected to include a 2% currency tailwind based on the current rates and including the impact of hedged positions, in addition to a 1% headwind from acquisitions and divestitures.
Comparable EPS (non-GAAP) percentage growth is expected to include a 2% currency tailwind based on the current rates and including the impact of hedged positions.
The first quarter has six additional days compared to the first quarter of 2025.
Notes
All references to growth rate percentages and share compare the results of the period to those of the prior year comparable period, unless otherwise noted.
All references to volume and volume percentage changes indicate unit case volume, unless otherwise noted. All volume percentage changes are computed based on average daily sales in the fourth quarter, unless otherwise noted, and are computed on a reported basis for the full year. “Unit case” means a unit of measurement equal to 192 U.S. fluid ounces of finished beverage (24 eight-ounce servings), with the exception of unit case equivalents for Costa non-ready-to-drink beverage products, which are primarily measured in number of transactions. “Unit case volume” means the number of unit cases (or unit case equivalents) of company beverages directly or indirectly sold by the company and its bottling partners to customers or consumers.
“Concentrate sales” represents the amount of concentrates, syrups, beverage bases, source waters and powders/minerals (in all instances expressed in unit case equivalents) sold by, or used in finished beverages sold by, the company to its bottling partners or other customers. For Costa non-ready-to-drink beverage products, “concentrate sales” represents the amount of beverages, primarily measured in number of transactions (in all instances expressed in unit case equivalents), sold by the company to customers or consumers. In the reconciliation of reported net revenues, “concentrate sales” represents the percent change in net revenues attributable to the increase (decrease) in concentrate sales volume for the geographic operating segments after considering the impact of acquisitions and divestitures, if any. For the Bottling Investments operating segment for the fourth quarter, this represents the percent change in net revenues attributable to the increase (decrease) in unit case volume computed based on total sales (rather than average daily sales) in each of the corresponding periods after considering the impact of structural changes, if any. For the Bottling Investments operating segment for the full year, this represents the percent change in net revenues attributable to the increase (decrease) in unit case volume after considering the impact of structural changes, if any. The Bottling Investments operating segment reflects unit case volume growth for consolidated bottlers only.
“Price/mix” represents the change in net operating revenues caused by factors such as price changes, the mix of products and packages sold, and the mix of channels and geographic territories where the sales occurred.
First quarter 2025 financial results were impacted by two fewer days as compared to first quarter 2024, and fourth quarter 2025 financial results were impacted by one additional day as compared to fourth quarter 2024. Unit case volume results for the quarters are not impacted by the variances in days due to the average daily sales computation referenced above.
Conference Call
The company is hosting a conference call with investors and analysts to discuss fourth quarter and full year 2025 operating results today, Feb. 10, 2026, at 8:30 a.m. ET. The company invites participants to listen to a live webcast of the conference call on the company’s website, http://www.coca-colacompany.com, in the “Investors” section. An audio replay in downloadable digital format and a transcript of the call will be available on the website within 24 hours following the call. Further, the “Investors” section of the website includes certain supplemental information and a reconciliation of non-GAAP financial measures to the company’s results as reported under GAAP, which may be used during the call when discussing financial results.
View source version on businesswire.com: https://www.businesswire.com/news/home/20260210415728/en/
Investors and Analysts: Robin Halpern, koinvestorrelations@coca-cola.com
Media: Scott Leith, sleith@coca-cola.com
Original: Coca-Cola Reports Fourth Quarter and Full Year 2025 Results
iHub News
4月前
Tech Bounce Holds Attention as Earnings Roll In; U.S. Retail Sales Awaited: Dow Jones, S&P, Nasdaq, Wall Street FuturesFebruary 10, 2026 5:39 AM
IH Market News
Futures tied to the main U.S. equity benchmarks were little changed on Tuesday as investors weighed a recent rebound in technology shares against a packed earnings calendar and key U.S. economic data due later this week. Results are scheduled from a range of blue chips, including CVS Health (NYSE:CVS) and Coca-Cola (NYSE:KO). Elsewhere, Japan’s Nikkei notched another record, while gold prices eased.
Futures steady after tech-led rebound
U.S. stock futures hovered near flat, signalling a tentative start to the session after Monday’s tech-driven advance.By 03:04 ET, Dow and S&P 500 futures were largely unchanged, while Nasdaq 100 futures slipped 18 points, or 0.1%.Wall Street’s major averages extended gains at the start of the week, building on momentum from late last week as technology stocks linked to the artificial intelligence buildout—particularly data centres—led the charge.Sentiment was further supported by a CNBC report citing comments from OpenAI chief executive Sam Altman, who said in an internal memo that ChatGPT had returned to growth. The development lifted expectations around one of the most influential hubs in the AI ecosystem. Analysts at Vital Knowledge noted that optimism around OpenAI helped prompt DA Davidson to upgrade its outlook for Oracle (NYSE:ORCL), which holds a $300bn data-centre contract with the ChatGPT developer.By the close, the Nasdaq Composite had climbed 0.9%, sitting just shy of a fresh record, while the S&P 500 also ended within striking distance of all-time highs.
Earnings rush continues
Another busy day of results is set to shape trading, as investors look for clues on corporate performance early in 2026.Ahead of the opening bell, reports are due from Marriott International (NASDAQ:MAR), Spotify (NYSE:SPOT), CVS Health and Coca-Cola. After the close, Gilead Sciences (NASDAQ:GILD) will publish its numbers.In after-hours moves, shares of Onsemi (NASDAQ:ON) fell after the chipmaker posted weaker-than-expected fourth-quarter revenue, citing a prolonged inventory overhang. Customers are still working through chip stockpiles accumulated during earlier supply-chain disruptions.Onsemi also flagged headwinds for its silicon carbide business from sluggish electric vehicle demand and intensifying competition from China. Its midpoint forecast for current-quarter sales came in below Wall Street expectations.
U.S. retail sales in focus
On the macro front, markets are bracing for December U.S. retail sales data.Household spending is the backbone of the U.S. economy, accounting for more than two-thirds of output and driving much of the 4.4% annualised GDP growth recorded in the third quarter.However, core retail sales—which exclude autos, gasoline, building materials and food services and are closely tied to the consumer component of GDP—are expected to rise 0.3% in the final month of 2025, easing from 0.5% in November.Some analysts point to a cooling labour market as a potential drag, although Federal Reserve officials in January characterised employment conditions as “stabilizing.” Analysts at ING said the data should still show “reasonably healthy” growth and reinforce the view that “the U.S. consumer is alive and well.”
Nikkei hits new high on “Takaichi trade”
Asian markets extended gains on Tuesday, led by Japan, where equities surged to fresh records on enthusiasm for the so-called “Takaichi trade” following Prime Minister Sanae Takaichi’s weekend election victory.Investors have welcomed expectations that Takaichi’s agenda will favour growth, profitability and domestic investment. Her decisive win has strengthened hopes for pro-business reforms, fiscal support and policies aimed at lifting capital investment, innovation and strategic industries.
Gold pulls back
Gold prices retreated on Tuesday, giving back part of Monday’s advance as markets remained cautious ahead of several important U.S. data releases.Silver and platinum also moved lower, despite limited support from an overnight dip in the dollar, which later stabilised during Asian trading.Precious metals have seen sharp swings over the past week, with profit-taking and stretched positioning pushing prices off record highs. Uncertainty around U.S. monetary policy—amid speculation over a potential change in Federal Reserve leadership—has added to volatility.Safe-haven demand for gold was also tempered by mixed signals in U.S.-Iran relations. While both sides reported progress in weekend talks over Iran’s nuclear programme, Washington nevertheless issued a warning on Monday to U.S.-flagged vessels transiting the Strait of Hormuz.CVS Health stock priceCoca-Cola stock priceOracle stock priceMarriott International stock priceSpotify stock priceGilead Sciences stock priceON Semiconductor stock price
Original: Tech Bounce Holds Attention as Earnings Roll In; U.S. Retail Sales Awaited: Dow Jones, S&P, Nasdaq, Wall Street Futures
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