Coca-Cola Q2 2026 Revenue $13.38 Billion Up 7%, Net Profit Up 17%

Coca-Cola Company reported Q2 2026 revenue of $13.38 billion, up 7% year-on-year; net profit of $4.438 billion, up 17%; and non-GAAP earnings per share of $0.97, up 11%. Global unit case volume grew 5%, driven by China, India, the US and Brazil. Asia Pacific unit case volume rose 8%, driven by the flagship Coca-Cola brand and sparkling flavors.

By category, global carbonated soft drink volume increased 4%, with flagship Coca-Cola brand volume up 5% and all markets growing. Coca-Cola Zero Sugar volume rose 16%, driven by growth across all markets. Sparkling flavors volume grew 4%, mainly driven by Asia Pacific. Juice, dairy and plant-based beverages volume rose 2%, driven by Asia Pacific and North America. Water, sports drinks, coffee and tea volume increased 6%.

The company's first-half operating cash flow was $7.5 billion, and free cash flow was $6.9 billion. The full-year free cash flow forecast was raised from $12.2 billion to $12.4 billion.

In China, consumer sentiment has become cautious and spending more rational. Coca-Cola China continues to advance localized innovation and long-term deployment through product innovation, digital interaction, supply chain upgrades and community building. For the 2026 FIFA World Cup, Coca-Cola China launched World Cup series and participating country themed limited-edition packaging, and partnered with Baidu to create a hyper-realistic real-time interactive digital human, "AI Fan Zhiyi", upgrading the traditional viewing experience into digital interaction.

In Q2, the Coca-Cola China system saw the commissioning of Swire Coca-Cola's Kunshan and Guangzhou green smart production bases in the Yangtze River Delta and Greater Bay Area, with a total investment of RMB 32.5 billion. The two bases target LEED Gold certification and apply IoT, big data and artificial intelligence technologies. In the first half of 2026, the "24-hour Clean Water" program initiated 21 emergency responses, deploying over 600,000 bottles of drinking water, covering more than 50,000 people.

Additionally, Coca-Cola previously suspended operations of its Fairlife milk brand in the US due to a cyberattack; most production at that business has now resumed.