Coca-Cola (KO) Q4 2025 Earnings
How Did KO Stock React to Q4 2025 Earnings?
S&P 500 over the same 30 days: −4.31%.
Did KO Beat Earnings? Q4 2025 Results
Yes. Coca-Cola reported Q4 2025 earnings of $0.58 a share on Feb 10, 2026, beating the $0.56 consensus estimate by 2.7%. Revenue was $11.8B against a $12.0B estimate.
Coca-Cola closed out Q4 2025 with a mixed but broadly resilient performance, delivering earnings per share of $0.58 against a consensus estimate of $0.56 — a 3.57% beat — while revenue of $11.82 billion came in 2.70% below the $12.15 billion Wall Street had expected, rising just 2.4% year over year as significant currency headwinds weighed on reported figures. The headline shortfall, however, obscures the underlying momentum: organic revenue grew 5% for both the quarter and the full year, driven by disciplined pricing and volume gains in markets including Brazil, the United States, and Japan. A $960 million non-cash impairment charge on the BODYARMOR trademark pressured GAAP operating income, though comparable margins continued to expand. Coca-Cola Zero Sugar remained a standout, with unit case volume surging 13% in Q4. <a href="https://247wallst.com/investing/2026/02/15/coca-colas-week-in-review-analysts-raise-price-targets-q4-beat/">analysts have since raised price targets</a> following the print. Looking into 2026, management guided for 4%–5% organic revenue growth and comparable EPS growth of 7%–8% versus a $3.00 base, aided by an approximate 3% currency tailwind.
- Organic revenue growth of 5% driven by 4% increase in concentrate sales and 1% price/mix growth in Q4
- Coca-Cola Zero Sugar unit case volume grew 13% in Q4 and 14% for the full year
- Pricing actions in the marketplace across all geographies
- Effective cost management driving comparable operating margin expansion
- Gained value share in total NARTD beverages for both Q4 and full year
- North America comparable currency neutral operating income grew 15% in Q4
“I'm encouraged by our performance in 2025 which showed both the resilience and momentum that define our business.”
Coca-Cola CEO, on the earnings call
What Was Coca-Cola's Outlook in Q4 2025?
For full year 2026, Coca-Cola expects organic revenue growth of 4% to 5%. Comparable currency neutral EPS excluding acquisitions and divestitures is expected to grow 5% to 6%, and comparable EPS is expected to grow 7% to 8% versus $3.00 in 2025. Comparable EPS growth includes an approximate 3% currency tailwind, with an approximate 1% headwind from acquisitions and divestitures. The company expects comparable net revenues to see an approximate 1% currency tailwind and approximately 4% headwind from acquisitions and divestitures, assuming the pending sale of Coca-Cola Beverages Africa closes during H2 2026. The underlying effective tax rate is estimated at 20.9%. Free cash flow is expected to be approximately $12.2 billion, consisting of approximately $14.4 billion in operating cash flow less approximately $2.2 billion in capital expenditures. For Q1 2026, comparable net revenues are expected to include a 2% currency tailwind and 1% headwind from acquisitions and divestitures, with the first quarter having six additional days compared to Q1 2025.
KO YoY Financials
| Metric | Q4 2025 | Q4 2024 | Year over year |
|---|---|---|---|
| Revenue | $11.8B | $11.5B | +2.4% |
| Gross Profit | $7.1B | $6.9B | +2.4% |
| Operating Income | $1.8B | $2.7B | −32.0% |
| Net Income | $2.3B | $2.2B | +3.5% |
KO Revenue by Segment
KO Revenue by Geography
Figures from SEC filings and company reports. Not investment advice.