Shares of The Coca-Cola Company rose over 3% in premarket trading on Tuesday, April 28, 2026, after the beverage giant reported stronger-than-expected first-quarter results and raised its full-year profit forecast. The company posted Q1 adjusted earnings per share of $0.86, beating the analyst estimate of $0.81 according to LSEG data. Net revenue grew 12% year-over-year to $12.47 billion, surpassing the $12.24 billion consensus forecast.
Revenue growth was primarily driven by an 8% increase in concentrate sales—the syrups and flavor mixtures sold to bottling partners—and a 2% increase in price/mix. Worldwide unit case volume, a key measure of demand, rose 3% during the quarter, indicating continued consumption growth even as consumers face higher living costs. Global volume for Coca-Cola Zero Sugar jumped 13%, while water and tea categories grew 5% and 8%, respectively.
New CEO Henrique Braun, who stepped into the role in March 2026, commented: "We’ve had a strong start to the year. 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."
The company raised its full-year 2026 earnings outlook, now expecting comparable earnings per share to grow between 8% and 9%, up from the previous forecast of 7% to 8%. Coca-Cola also reaffirmed its organic revenue growth target of 4% to 5% for the year. The stock is up 7.9% year-to-date, outpacing the S&P 500's 4.8% gain over the same period.
Regionally, North America led with a 4% increase in unit case volume, while Asia Pacific grew 5%. However, the juice, value-added dairy and plant-based segment saw volume decline 1% due to divestitures, including the sale of operations in Nigeria. Headwinds include early signs of consumer resistance to further price increases, tighter regulations around food stamp usage in the U.S., and a new sugar tax in Mexico. Insiders sold approximately $72 million worth of stock over the past three months with no reported purchases.
