Coca-Cola posted its best revenue growth since 2024 thanks to mini-packs

Coca-Cola on April 28 reported quarterly earnings and revenue that exceeded analysts' expectations - such results the company managed to achieve against the background of global growth in demand for beverages, CNBC notes. Coca-Cola also relies on smaller packaging volumes, which helps to attract consumers with limited budgets, Bloomberg writes.

- Coca-Cola reported in the report for the first quarter of 2026 on organic revenue growth of 10% year-on-year, - this figure exceeded the average forecast of analysts and became the best for the last five quarters, Bloomberg notes. The company's total revenue grew by 12% year-on-year to $12.5 billion in the first months of 2026, compared to $12.24 billion expected by analysts at LSEG, CNBC reports.

- Adjusted EPS also came in above expectations at $0.86 versus $0.81. Coca-Cola's net income increased by 19% year-on-year to $3.9 bln in the first quarter.

- Unit case volume increased by 3% in the first quarter. This figure does not take into account product prices and more accurately reflects demand, CNBC explains. In North America, sales volumes increased by 4%. Growth was supported by portion formats: physical sales volumes of Coca-Cola mini cans in the region increased by "high single digits," the report said, and in some markets, such as the Philippines, sales volumes of portion packs grew at double-digit rates (10% or more).

At the product category level, the bottled water, sports drinks, coffee and tea segment showed the strongest dynamics, with quarterly sales growth of 5% year-on-year due to increased demand.

In the carbonated beverage category, Coca-Cola's sales volumes grew 2% year-over-year, including a 13% increase for Coca-Cola Zero Sugar, a sugar-free version of the beverage.

Meanwhile, the segment of juices, enriched dairy products and herbal beverages looked weaker than others in the structure of Coca-Cola, CNBC writes. Sales volumes there declined by 1% over the quarter.

- For the year, the company now expects comparable earnings per share growth of 8-9% against the previous forecast of 7-8%. The forecast for organic revenue growth remains unchanged at 4-5%. In doing so, Coca-Cola has gone against the trend among consumer goods makers warning of pressure on annual profits due to the impact of the war in the Middle East, Reuters notes.

"While many consumers remain resilient to inflation, others are under pressure due to heightened macroeconomic uncertainty and volatility caused by the conflict in the Middle East," CEO Enrique Braun said during a call with analysts after the financials were released, Reuters reports.

Coca-Cola shares rose by 5.3% in trading on April 28. Since the beginning of the year, they are in the plus by almost 13.7% and surpassed during this time by the dynamics of the S&P 500 index, which added 4.2%. At the same time, since the end of February, when the conflict in the Middle East began, quotations of Coca-Cola fell by 2.6%.

Coca-Cola's first-quarter results show that the company's strategy of reaching out to different price segments is working against the backdrop of a divergence in consumption levels between less affluent and wealthier households, Bloomberg writes. Coca-Cola is expanding its offerings of small and portioned formats, lowering the price threshold for the most cost-sensitive shoppers while promoting higher-priced products to affluent audiences.

"We see Coca-Cola as the relative favorite as it is more immune to inflationary cost pressures and has a sound consumer strategy in both mass and premium segments," Reuters quoted JPMorgan analysts as saying.

Of the 25 analysts covering Coca-Cola stock, the majority - 20 - advise buying the stock. Five have a neutral stance. There are no sell recommendations.

This article was AI-translated and verified by a human editor