Coca-Cola reported 5% unit case volume growth in the second quarter of 2026, with gains across every operating unit and nearly all beverage categories. North America volume rose 3%, Latin America gained both value and volume share, and EMEA and Asia Pacific each posted volume growth across all operating units. Management attributed the quarter to favorable weather in certain markets, easier year-ago comparisons and FIFA World Cup activation, which helped drive 5% Trademark Coca-Cola volume growth and 8% Powerade growth globally, though on a two-year basis volume growth was 2%. Among peers, PepsiCo's global convenient foods organic volume rose 3% and global beverages 2% in the quarter, with International Beverage Franchise volume up 5%, while Keurig Dr Pepper's U.S. Refreshment Beverages and international volume mix each rose 6.5%. Coca-Cola shares have rallied 32.9% in the past year versus the industry's 19.3% growth, and the stock trades at a forward price-to-earnings ratio of 25.34X against the industry's 18.95X.
The Coca-Cola CompanyCoca-Cola posted 5% Q2 2026 unit case volume growth across all operating units, with Trademark Coca-Cola up 5% and Powerade up 8%.
Coca-Cola Europacific Partners PLC
Keurig Dr Pepper Inc
PepsiCo Inc
