Coca-Cola Rides Health-, Cost-Conscious Products to Quarterly Volume Gains

The Coca-Cola Co. posted quarterly earnings and revenue above expectations, spurred along by increased volume across most of its global portfolio. The company also upgraded its 2026 adjusted earnings outlook to growth of 8-9%, up from 7-8% per share.

Global unit volume increased 3% across all of Coca-Cola’s operating segments, with a 4% increase in North America. Meanwhile, the company’s water, sports, coffee and tea segment saw a 5% bump in volume around the world, and the flagship Coca-Cola product line saw a 2% increase. Based on this quarter’s results, the company appears to have won over health- and cost-conscious consumers as well.

Coca-Cola Zero Sugar exploded this quarter, with a 13% jump in volume, and Coke Zero has “been on a tear” for some time, CFO John Murphy told Yahoo Finance. He also called Coke Zero “by far and away our best innovation, I’d say, over the last 25 years,” in that same report. Consumers have been looking for indulgences that also provide health benefits, and low-sugar and sugar-free options remain aligned with those demands.

Meanwhile, the company’s launch of single-serve mini cans in convenience stores and gas stations across North America appears to have also resonated, with high single-digit volume growth reported. CEO Henrique Braun said on the company’s quarterly earnings call that Coca-Cola has been focused on meeting affordability demands of budget-conscious shoppers.

Not every division reported positive growth, however. The juice, value-added dairy, and plant-based beverages reported a 1% decline in volume. Murphy told Yahoo Finance that Fairlife has been a home run for the company, but “meeting demand is the biggest challenge.” Coca-Cola is, of course, addressing that challenge directly through capital projects to build a new Fairlife facility in Webster, N.Y., and a significant plant expansion in Coopersville, Mich.