Coca-Cola (KO) Tops Q4 EPS by 2c, Misses on Revenue; Offers Guidance

Coca-Cola (NYSE: KO) reported Q4 EPS of $0.58, $0.02 better than the analyst estimate of $0.56. Revenue for the quarter came in at $11.8 billion versus the consensus estimate of $12.04 billion.

The company expects to deliver organic revenue (non-GAAP) growth of 4% to 5%.

For comparable net revenues (non-GAAP), the company expects an approximate 1% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 4% headwind from acquisitions and divestitures. This assumes the pending sale of Coca-Cola Beverages Africa (\"CCBA\") closes during the second half of 2026, subject to regulatory approvals.

The company’s underlying effective tax rate (non-GAAP) is estimated to be 20.9%. This does not include the impact of ongoing tax litigation with the U.S. Internal Revenue Service, if the company were not to prevail.

The company expects to deliver comparable currency neutral EPS excluding acquisitions and divestitures (non-GAAP) growth of 5% to 6% and comparable EPS (non-GAAP) growth of 7% to 8% versus $3.00 in 2025.

Comparable EPS (non-GAAP) percentage growth is expected to include an approximate 3% currency tailwind based on the current rates and including the impact of hedged positions. In addition, the company expects an approximate 1% headwind from acquisitions and divestitures. This assumes the pending sale of CCBA closes during the second half of 2026, subject to regulatory approvals.

The company expects to generate free cash flow (non-GAAP) of approximately $12.2 billion. This consists of cash flow from operations of approximately $14.4 billion, less capital expenditures of approximately $2.2 billion.

For earnings history and earnings-related data on Coca-Cola (KO) click here.

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