Coca-Cola boosted its full-year earnings forecast for the third consecutive quarter despite facing sluggish demand in North America. The company now expects its comparable earnings per share to increase by at least 11%, up from an earlier estimate of 9% to 10%. It also slightly raised its expected organic revenue growth to a minimum of 5%. CEO Henrique Braun credited the strong results to Coca-Cola’s “speed and discipline” in navigating a challenging and uneven market environment.

In the third quarter of fiscal 2026, Coca-Cola exceeded Wall Street expectations with adjusted earnings per share of 91 cents versus the anticipated 88 cents, and revenue of $13.4 billion, surpassing the forecast of $12.92 billion. Net income attributable to shareholders climbed to $4.01 billion, or 93 cents per share, compared to $3.7 billion, or 86 cents per share, a year ago. The 7% rise in net sales reflected growth both globally and organically, while unit case volume rose 5%, driven mainly by stronger demand outside North America where volume remained flat.

North America’s volume performance was affected by the timing of the Fourth of July holiday and a persistent shortage of the sparkling water brand Topo Chico. CFO John Murphy noted that while consumer spending remains cautious, there is consistent preference for value offerings across income levels. The company’s at-home beverage sales are faring better than away-from-home segments like restaurants and entertainment venues, which continue to face economic pressure and are expected to remain weak through year-end.

Globally, Coca-Cola’s sparkling soft drink sales grew 5%, propelled by popular brands including Coke, Coke Zero Sugar, and Diet Coke, which is experiencing a resurgence, particularly among younger consumers. The company’s water, sports, coffee, and tea portfolio also saw volume increases, especially driven by its premium Smartwater brand. However, some soda brands such as Sprite need improvement, and while the juice and plant-based beverage division remains stable, demand for sports drinks declined during the quarter.