Q1 2026 Coca-Cola Co Earnings Call Transcript
Key Points
- Coca-Cola Co (KO) delivered strong first-quarter results with 3% volume growth across all segments.
- The company achieved double-digit comparable earnings per share growth, driven by expanded operating margins.
- Coca-Cola Co (KO) gained overall value share for the 20th consecutive quarter.
- The company successfully launched innovative products like Coca-Cola Cherry Float and Powerade Power Water, contributing to revenue growth.
- Coca-Cola Co (KO) demonstrated strong performance in key regions like North America, Latin America, and EMEA, with volume and value share gains.
- Persistent inflation and macroeconomic uncertainty are putting pressure on some consumer segments.
- The company faced softness in price/mix in North America due to Easter timing and unfavorable category mix.
- Volume declined in March in Eurasia and the Middle East due to geopolitical conflicts.
- Profitability in the Asia-Pacific region was impacted by commodity headwinds and inventory cost phasing.
- The company anticipates a 4-point headwind to comparable net revenues from divestitures, including the pending sale of Coca-Cola Beverages Africa.
At this time, I'd like to welcome everyone to The Coca-Cola Company's first-quarter 2026 earnings results conference call. Today's call is being recorded. If you have any objections, please disconnect at this time. (Operator Instructions)
I would now like to introduce Todd Beiger, Vice President and Head of Investor Relations. Mr. Beiger, you may now begin.
Good morning, and thank you for joining us. I'm here with Henrique Braun, our Chief Executive Officer; and John Murphy, our President and Chief Financial Officer.
We've posted schedules under Financial Information in the Investors section of our company website. These reconcile certain non-GAAP financial measures that may be referred to this morning to the results as reported under Generally Accepted Accounting Principles. You can also find schedules in the same section of our website to provide an analysis of our gross and operating margins.
This call may contain forward-looking statements, including
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