Coca-Cola lifts annual profit target as premium drinks, sodas hold strong

Coca-Cola KO-N on Tuesday raised its annual profit forecast, betting on resilient demand for its zero-sugar sodas and pricier beverages such as fairlife milk and sparkling soft drinks.

The company now expects comparable currency-neutral earnings per share to grow at least 9 per cent in 2026, up from its previous forecast of 7 per cent to 8 per cent.

Coca-Cola’s third-quarter revenue rose 7.4 per cent to US$13.38-billion, beating analysts’ estimate of US$12.92-billion, according to data compiled by LSEG.

As high food and fuel prices make consumers more selective, Coca-Cola has sought to sustain demand by offering smaller, cheaper packs while rolling out pricier new flavors such as Coca-Cola Cherry Float.

The company also benefited from demand during the soccer World Cup in July, including a brief sales boost for its energy drink brands.

Its performance contrasts with rival PepsiCo PEP-Q, which lowered its annual targets earlier this month and stepped up cost cuts as it grapples with weak demand for snacks in North America.

Coca-Cola shares rose nearly 1 per cent in premarket trading. The stock has jumped about 33 per cent in 2026 and is on track for a third straight year of gains, despite broader weakness in consumer spending and market volatility stemming from the war in Iran.