EARNINGS & CATALYSTS · October 22, 2026
Coca-Cola (KO) Earnings October 27, 2026: Volume, Pricing, Margins and Guidance
Coca-Cola reports October 27 before the open. Review estimates, volume and pricing trends, raised guidance, prior earnings surprises and PepsiCo’s recent results.
| Company | Report date | Window | EPS estimate | Revenue estimate |
|---|---|---|---|---|
| The Coca-Cola Company (KO) | October 27, 2026Issuer confirmed | Before open | 0.88 | 12.92B |
1) When is Coca-Cola reporting Q3 earnings?
Coca-Cola’s September 29 announcement confirms financial results before the New York Stock Exchange opens on Tuesday, October 27, 2026. Its investor conference call begins at 8:30 AM Eastern. Both the date and before-open release window are company-confirmed. The charts use the completed October 22 regular session and exclude the forthcoming report’s price response.
2) What are the dated earnings expectations?
The earnings-calendar snapshot updated October 22, 2026 at 12:35 PM Eastern lists estimated EPS of $0.881 and estimated revenue of $12.91993 billion. These are vendor forecasts, separate from reported results and Coca-Cola guidance. The feed does not define its EPS accounting basis. A valid surprise comparison needs to match the estimate to the eventual GAAP or comparable non-GAAP measure, since Coca-Cola publishes both.
3) How did the latest two quarters compare with estimates?
Q1 net revenue of $12.472 billion exceeded dated rounded consensus of $12.24 billion by about 1.9%, and comparable EPS of $0.86 exceeded $0.812 by about 5.9%. Q2 net revenue of $13.380 billion exceeded $13.17 billion by about 1.6%, while comparable EPS of $0.97 exceeded $0.932 by about 4.1%. GAAP EPS was $0.91 and $1.03, respectively. Surprise percentages use the stated unrounded EPS estimates even though image values display two decimals. Q1 contained six additional reporting days, affecting reported revenue and concentrate shipments; average-daily-sales unit case volume has a different calendar treatment.
4) What changed in the full-year outlook?
The July release moved organic revenue growth to approximately 5% from 4%–5%. Comparable currency-neutral EPS growth excluding acquisitions and divestitures increased to 7%–8% from 6%–7%, while comparable EPS growth increased to 9%–10% from 8%–9%. Free cash flow guidance rose to approximately $12.4 billion from $12.2 billion. These measures use different currency and portfolio definitions. The July Q3 considerations anticipated roughly a 1% currency tailwind to comparable revenue and a 3% tailwind to comparable EPS; actual exchange-rate effects can change. The company also flagged six fewer reporting days in Q4 than a year earlier.
5) How the business makes money
Coca-Cola earns revenue from selling beverage concentrates, syrups and finished drinks across sparkling soft drinks, water, sports drinks, coffee, tea, juice and dairy-related beverages. Bottling partners manufacture, package and distribute much of the finished product. In 2025, concentrate operations represented 59% of net operating revenue and finished product operations represented 41%. Refranchising bottling operations can reduce consolidated sales while changing the margin mix, so revenue and unit case volume measure different aspects of the system.
6) What to watch
The report can show whether global unit case volume and price/mix remain balanced as consumer budgets and channel preferences change. Investors can compare organic revenue, concentrate shipments, regional demand and input costs with marketing spending and margins. Currency and bottling portfolio changes can alter the reported dollar figures without matching changes in beverage consumption. Updates to the full-year outlook and cash generation provide checks on whether the first-half momentum is persisting.
7) Recently reported peers
PepsiCo reported October 8 net revenue of $25.274 billion and core diluted EPS of $2.34 against dated rounded consensus of $24.96 billion and $2.30, implying surprises of about 1.3% and 1.7%. It reduced full-year core constant-currency EPS growth to 1%–2% from the low end of its prior 4%–6% range, while guiding organic revenue growth to approximately 3%. Its snacks and beverages portfolio, geographic mix and accounting adjustments differ from Coca-Cola’s, so the report provides context rather than a forecast. The image measures the October 8 regular close through the October 9 regular close, capturing subsequent follow-through after the morning release.
8) Risks into the report
Risks include slower consumer demand, resistance to price increases, commodity and packaging inflation, currency fluctuations and execution of bottling portfolio changes. Marketing and innovation costs may precede revenue benefits. Comparable earnings exclude specified items, and organic growth removes selected currency and structural effects; neither should be confused with GAAP dollar growth. Strong volume or headline EPS does not guarantee margin expansion or a positive share-price reaction.