Coca-Cola Q2 2026 Earnings Review - Great quarter, long-term forecast largely unchanged

研报英文原文证据摘录

Coca-Cola Q2 2026 Earnings Review - Great quarter, long-term forecast largely unchanged

28 July 2026

Estimate Change

Cristian Rios

+1 917 344 8615

U.S. Beverages, Household & Personal Care Products cristian.rios@bernsteinsg.com

Coca-Cola Co Yolanda Zhang

+1 917 344 8346

Rating yolanda.zhang@bernsteinsg.com

Market-Perform

Price Target

KO 93.00 USD (83.00 OLD)

Coca-Cola Q2 2026 Earnings Review - Great quarter, long-term

forecast largely unchanged

KO reported strong Q2 results, beating VA consensus EPS estimates of $0.93 by $0.04. With

Close Date 28 Jul 2026

strong fundamental drivers behind the beat, there is nothing to pick at. Results were driven

KO Close Price (USD) 88.27

by a beat on Organic Sales Growth, which came in at 6.0% (vs. consensus of 3.5%). Organic

Price Target (USD) 93.00

growth was in turn powered by strong consumption as Global Unit Case Volumes grew

Upside/(Downside) 5%

5%, making the beat even more compelling. Operating Income Margin also beat, delivering

52-Week Range 90.22/65.35

35.6%, vs consensus of 35.1%. Yearly guidance for Organic Growth was updated to the top

SPX 7,428.78

of the range, at 5%. The stock closed at $88, posting a 5% gain.

FYE Dec

We update our model to incorporate the latest results, but keep our medium and long-term Div Yield 2.4%

forecasts, which already reflected our view of KO as a resilient and high-quality compounder, Market Cap (USD) (M) 379,780

mostly unchanged. We also update our target multiple, from 24.0x to 25.5x, to reflect EV (USD) (M) 409,117

recent appreciation, which we think will be sustained and has been driven, at least in part, Performance YTD 1M 6M 12M

from rotation into the sector (Consumer Staples closed ~2% up during the session, i.e., Absolute (%) 26.3 6.8 20.8 29.6