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Research Alert: Ko: Q1 Well-ahead Of Consensus On Volume Improvement; Raises 2026 Guidance

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CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:

Coca-Cola (KO) posted Q1 adjusted EPS of $0.86 vs. $0.73 (+18%), well-ahead of the $0.81 consensus. The beat was due to a stronger-than-expected top line, as net sales rose 12% to $12.47B ($240M ahead of consensus) and the gross margin expanded 40 bps to 63.0% (in line). Looking at KO's Q1 net sales increase, it was due to concentrate sales (+8%), price/mix (+2%), and currency (+3%). The recent decline in the U.S. dollar has turned into a key tailwind for KO given its significant non-U.S. exposure (~60% of total revenue in 2025). Unit case volumes rose 3%, with volumes higher across all regions. KO now expects full-year adjusted EPS to be up 8%-9% versus 7%-8% previously and the $3.00 earned in 2025, implying EPS of $3.24-$3.27, ahead of the current consensus of $3.23. KO shares are currently trading 3% higher in the premarket. We found KO's broad-based unit case volume increase the most encouraging development, helping alleviate concerns regarding possible pushback from budget-conscious consumers.

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