Coca-Cola Q2 Tops Forecasts; World Cup Drives Volumes

The Coca-Cola Company posted Q2 2026 results on Tuesday for the quarter ended June 30, reporting adjusted earnings per share of $0.97 and revenue of $13.38 billion. Adjusted EPS exceeded the average analyst estimate by $0.04 and revenue topped forecasts by about $220 million. Net income for the quarter was $4.43 billion, up from $3.81 billion a year earlier.

The company reported that its FIFA World Cup marketing program reached more than 80 million consumers and helped drive a 5% increase in Trademark Coca-Cola volumes and an 8% rise in Powerade volumes for the period. The company cited continued consumer demand and execution across its bottling and distribution network as additional factors in the results.

Henrique Braun, CEO of The Coca-Cola Company, wrote in the earnings release: “We delivered another strong quarter by staying close to the changing needs of our consumers and customers.”

PepsiCo released its second-quarter results earlier in the month, posting revenue growth while reporting earnings per share below Wall Street expectations.

Coca-Cola was a top holding in the State Street Consumer Staples Select Sector SPDR ETF (XLP) as of July 27, 2026. XLP’s net asset value was up 8.32% year to date through June 30, 2026.

The company indicated it will continue to invest in its brands and route-to-market capabilities and to manage operations across its bottling system while reporting gains in revenue, net income and adjusted earnings for the quarter.