FIFA World Cup Delivers Coca-Cola's Best Quarterly Volume Growth in 17 Years

Coca-Cola Co. (NYSE: KO ) stock rose sharply Tuesday after the beverage maker reported second-quarter results that topped Wall Street estimates, driven by strong global demand, and raised its full-year outlook.

The company reported adjusted earnings of 97 cents per share, exceeding the analyst consensus estimate of 93 cents.

Revenue increased 7% year over year to $13.4 billion, topping the consensus estimate of $13.162 billion, according to Pro.

Coca-Cola Organic Revenue, Volume Growth Stay Strong Organic revenue increased 6%, driven by a 4% increase in concentrate sales and a 2% improvement in price/mix.

Concentrate sales trailed unit case volume growth by one percentage point due to the timing of concentrate shipments.

Unit case volume increased 5%, led by growth in India, China, the United States and Brazil.

CEO Henrique Braun said the company continued to gain value share despite an uneven consumer environment by leveraging its brand portfolio while investing for long-term growth.

Read Also: Coca-Cola Takes IRS Fight To Appeals Court This Week With $20 Billion Tax Bill At Stake: Here's What To Know Brand Performance Coca-Cola said its FIFA World Cup 2026 campaign contributed to a portion of Trademark Coca-Cola’s 5% volume growth, its strongest quarterly volume growth in 17 years (excluding COVID recovery), as well as Powerade’s 8% volume growth.

The water, sports, coffee and tea segment posted 6% volume growth, while sparkling soft drinks volume increased 4%.

Coca-Cola Zero Sugar volume climbed 16%, while Diet Coke/Coca-Cola Light volume rose 7%.

The juice, value-added dairy and plant-based beverages segment reported 2% volume growth.

During the earnings call, Braun said consumers continue to face inflation, geopolitical uncertainty and economic challenges in many markets, leading them to reassess purchasing decisions despite generally resilient economic conditions.

Coca-Cola Raises Full-Year Guidance Coca-Cola raised its full-year comparable earnings-per-share growth forecast to 9% to 10%, up from its previous guidance of 8% to 9%.

The company also increased its organic revenue growth outlook to about 5%, compared with its prior guidance of 4% to 5%.

Fairlife Restarts Production Separately, Coca-Cola said Monday that Fairlife, its dairy business, has resumed most production at its four U.S. facilities following a ransomware attack that temporarily disrupted operations.

The company previously disclosed that an unauthorized third party accessed parts of Fairlife’s systems and obtained certain data, prompting a temporary production suspension.

Coca-Cola Price Action KO Price Action: Coca-Cola shares were up 5.98% at $89.09 at the time of publication on Tuesday.

The stock is trading at a new 52-week high, according to Pro data.

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