Boeing, Coca-Cola Earnings Previews: A Turnaround Story and a Defensive Staple Face the Same Test
Boeing needs one quarter to prove its turnaround is real, while Coca-Cola needs to justify a 35% run against the toughest comparisons of the year. Both report October 27, and the macro backdrop could not be more complicated.
Boeing (NYSE:BA | BA Price Prediction) and Coca-Cola (NYSE:KO) both report third-quarter results on October 27, 2026. One is a turnaround, and the other is a defensive staple. Both report after the October 22 selloff, which was linked to Middle East tensions and rising oil prices.
On Mad Money on September 24, 2026, Jim Cramer said Boeing and Coca-Cola were among 17 stocks that, per Hendrik Bessembinder’s research, delivered cumulative returns of more than 5 million percent from 1925 to 2023. That record helps explain the long-term investor interest in both names.
Turnaround Progress Meets a Defensive Rally
Boeing’s second quarter showed progress, but it came at a cost. Revenue rose 8.0% to $24.56 billion, deliveries reached 171, and free cash flow turned positive at $631 million. Still, the core loss of $0.76 per share was well short of the $0.34 loss analysts expected. A $280 million VC-25B charge did much of the damage. Shares are down 12.8% year to date.
Coca-Cola beat EPS estimates for the fifth consecutive quarter, making $0.97 against the $0.93 consensus. It then raised its full-year comparable EPS growth outlook to 9% to 10%. The stock is up 35.7% year to date. Watch for results before the New York Stock Exchange opens, and the investor call follows at 8:30 a.m. ET.
Third-Quarter Consensus Estimates
| Metric | Boeing | Boeing YoY | Coca-Cola | Coca-Cola YoY |
|---|---|---|---|---|
| Q3 EPS | −$0.201 | Loss narrows from −$7.47 | $0.8809 | 7.4% |
| Q3 Revenue | $24.37B | 4.7% | $12.93B | 3.7% |
| FY2026 EPS | −$1.101 | N/A | $3.3039 | 10.1% |
| FY2026 Revenue | $97.50B | N/A | $49.83B | 3.9% |
Max 10 Certification and Oil Will Frame Boeing’s Morning
Secretary of Transportation Sean Duffy noted the 737 Max 10 certification on October 20, 2026: “This has been almost a ten-year process getting to this day of certification, which, by the way, is huge.” According to Marketplace Morning Report, major airlines have ordered more than 1,400 of the jets. The program also reported that regulators found a software glitch this year and determined it was not a flight safety issue. Watch for confirmation of 2027 first deliveries and progress on the 737 ramp to 47 per month. Boeing also guided to third-quarter free cash flow in the low hundreds of millions, despite a $700 million DOJ payment.
Oil adds pressure, with benchmark West Texas Intermediate (WTI) crude at $107.89 a barrel on October 20. Cramer once quipped, “Every time crude goes up a dollar, Boeing stock goes down a dollar,” but he called that logic flawed, arguing that airlines actually need more fuel-efficient planes as oil rises. RTX (NYSE:RTX) CEO Chris Calio made a similar point: “There’s the concern around jet fuel and airline health and pricing, but the demand is still there.”
Coca-Cola Must Prove Volume Holds Against Tougher Comparisons
Second-quarter unit case volume rose 5%, and Zero Sugar grew 16%. The World Cup and an easier prior-year comparison both helped. Management warned that the second half brings a tougher year-over-year comparison and six fewer selling days in the fourth quarter. Watch Asia Pacific, where price/mix fell 9%.
On GLP-1 weight-loss drugs, Cramer argued that PepsiCo (NASDAQ:PEP) is more exposed because of its snack business: “Live by junk food, die by junk food.” In June, after Coca-Cola hit a new high on a down day for the market, he said: “I want you to reach for Coca-Cola and then just keep buying.”
What a Winning October 27 Looks Like for Each Stock
For Boeing, a good morning means positive free cash flow despite the DOJ payment, plus a firm Max 10 delivery schedule. Free cash flow is the number that matters most. For Coca-Cola, success means volume growth that holds up against the tougher comparison and reaffirmed guidance. The key figure is organic revenue growth against the about 5% full-year target. Boeing must earn back investor trust. Coca-Cola must justify its premium valuation after a 35.7% run.
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Trey has been an editor and author at 24/7 Wall St. for more than a decade, where he has published thousands of articles analyzing corporate earnings, dividend stocks, short interest, insider buying, private equity, and market trends. His comprehensive coverage spans the full spectrum of financial markets, from blue-chip stalwarts to emerging growth companies.
Beyond 24/7 Wall St., Trey has created and edited financial content for Benzinga and AOL's BloggingStocks, contributing additional hundreds of articles to the investment community.
Trey's editorial expertise extends across multiple publishing environments. He served as production editor at Dearborn Financial Publishing and development editor at Kaplan, where he helped shape financial education materials. Earlier in his career, he worked as a writer-producer at SVE. His freelance editing portfolio includes work for prestigious clients such as Sage Publications, Rand McNally, the Institute for Supply Management, the American Library Association, Eggplant Literary Productions, and Spiegel.
Outside of financial journalism, Trey writes fiction and has been an active member of the writing community for years, moderating workshop sessions at regional conventions.
