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Edge14 Nov 2025
Ball: The King of Cans
From a 19th-century glass-jar legacy to a global plant network, Ball is now a pure-play aluminum can partner to the world's biggest beverage brands.
The Coca-Cola Company
The Coca-Cola Company (KO) investor relations material
The Coca-Cola Company Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary27 Oct, 2026
Executive summary
Q3 unit case volume rose 5%; net and organic revenue each grew 7% to $13.38B, supported by 7% concentrate-sales growth and 1% price/mix growth.
Value share gains extended to 22 consecutive quarters amid uneven conditions; performance reflected broad regional momentum, affordability, premium offerings and brand investment.
Financial highlights
Q3 comparable EPS was $0.91, up 11%, including a 2-point currency benefit; diluted EPS was $0.93, up 8%.
Q3 revenue rose 7% to $13.38B and operating income increased 12% to $4.465B; net income attributable to shareowners grew 8% to $4.009B.
Q3 reported gross margin was 63.15%, up 166 bps, and reported operating margin was 33.37%, up 140 bps; comparable margins rose 166 bps and 106 bps, respectively.
9M revenue rose 9% to $39.232B, operating income increased 13% to $13.496B and net income grew 14% to $12.358B.
9M operating cash flow was $12.471B and free cash flow was $11.408B; Q3 SG&A rose 10% to $3.98B, primarily on higher marketing and incentive expense timing.
Outlook and guidance
FY26 organic revenue growth is expected to be at least 5%; comparable currency-neutral EPS growth, excluding acquisitions and divestitures, is expected to be at least 9%.
FY26 comparable EPS growth guidance increased to at least 11% from 9%–10%, including ~3% currency tailwind and ~1% acquisitions-and-divestitures headwind; comparable EPS is based on $3 in 2025.
FY26 free cash flow guidance rose to at least $13.0B, including at least $15.2B operating cash flow and ~$2.2B capital expenditures; prior FCF outlook was ~$12.4B.
FY26 underlying effective tax rate is expected to be 19.7%; divestitures are expected to weigh ~2% on comparable net revenue and ~1% on comparable EPS.
Q4 has six fewer days YoY, with slight destocking expected; FY26 concentrate sales volume is expected to slightly trail unit case volume.
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Latest events from The Coca-Cola Company
- Consumer-led growth, disciplined investment, and digital execution anchor the long-term plan.KO
Investor presentation - Balanced growth, digital transformation, and local adaptation drive the next chapter of strategy.KOBarclays 19th Annual Global Consumer Conference
- Q2 2026 saw 7% revenue growth, margin expansion, and raised guidance amid global momentum.KOQ2 2026
- Sustained value growth, digital innovation, and resilient partnerships drive future performance.KO23rd annual dbAccess Global Consumer Conference
- Leadership transition, digital and sustainability focus, and all shareholder proposals rejected.KOAGM 2026
- Q3 revenue up 5%, operating income up 59%, and EPS up 30% year-over-year.KOQ3 2025
- Organic revenue up 9%, comparable EPS up 5%, but GAAP EPS fell on charges and FX headwinds.KOQ3 2024
- Q1 2025: 2% volume, 6% organic revenue growth, 71% operating income jump, cash flow hit by fairlife.KOQ1 2025
- 7% EPS growth in 2024; Q4 revenue and profit surged; 2025 guidance: 5%-6% organic revenue, 8%-10% EPS growth.KOQ4 2024
Next The Coca-Cola Company earnings date
Q4 20269 Feb, 2027
The Coca-Cola Company
Next The Coca-Cola Company earnings date
Q4 20269 Feb, 2027
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Frequently asked questions
Beverage industry behemoth
The Coca-Cola company might not need any further introduction than the simple statement “The producers of Coca-Cola”. This is a testament to the impact that the company has had throughout history, and continues to have in modern society. Founded in 1866 the company has continued to expand over the years and is now one of the world's most famous and recognized brands. Coca-Cola has been publicly traded for over 100 years, and Warren Buffet and his investment company Berkshire Hathaway owns a significant stake in the company.
Legendary trade secrets
One important part of Coca-Cola's brand identity is the secrecy surrounding the recipe for their most iconic drink. The formula, known only to a select few and passed down from executive to executive, consists of a unique blend of ingredients. The recipe's secrecy has been carefully guarded throughout the company's history and is today kept safely in a vault at Coca-Cola's headquarters, adding an air of mystery and exclusivity to the brand. This aura of secrecy has contributed to the intrigue and fascination surrounding Coca-Cola, making it an enduring symbol of the beverage industry. One legendary story regarding the secret recipe is how one disgruntled employee stole it from the headquarters and planned to sell it to Pepsi for over a million dollars. Pepsi, not interested in buying trade secrets and producing an identical product to their biggest competitor, promptly alerted Coca-Cola who in turn called the FBI.
Not just Coca-Cola
The Coca-Cola Company offers a variety of products in addition to its iconic Coca-Cola beverage. Some of its notable brands include Diet Coke, Sprite, Fanta, Minute Maid, Powerade, Dasani, SmartWater, Honest Tea, and Vitaminwater. These products cater to different consumer preferences and situations by providing a range of flavors, carbonated and non-carbonated options, juices, sports drinks, bottled water, drink mixers, and more. The Coca-Cola Company strives to fill every possible want from consumers looking for a bottled non-alcoholic drink.
An incredibly well cemented global presence
The Coca-cola Company is well and truly a global brand, and the list of countries where their products aren’t available (oftentimes due to sanctions or logistical issues) for sale is very short. Coca-Cola has achieved a remarkable global presence, with its products being sold in almost every corner of the world. The company has pursued a strategy of international expansion, establishing bottling and distribution networks in numerous countries. Additionally, Coca-Cola's strong brand recognition and marketing efforts have contributed to its widespread popularity. The company's ability to adapt its products to local tastes and preferences has also played a crucial role in its global success.