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Coca-Cola Consolidated (COKE) earnings and revenue breakdown

Latest: Q3 2026 · 10-Q filed Nov 4, 2026 · Coca-Cola Consolidated (COKE) Q3 2026 earnings results →

Q3 2026 Revenue up 5% year over year to $2.0B · 9¢ of every $1 of revenue kept as net profit · operating margin 13.7%

Coca-Cola Consolidated made $2.0B in Q3 2026 (+5% Y/Y). Operating margin 13.7%, net earnings $176M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 4, 2026.

Revenue$2.0B
Year over year+5%
Operating margin13.7%
Net earnings$176M
Operating cash flow$244M

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Coca-Cola Consolidated Q3 2026 revenue breakdown: Sankey diagram of revenue, costs, profit and cash flow
Coca-Cola Consolidated Q3 2026 revenue breakdown — free to use with credit and a link (terms). Share on X
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What changed this quarter

Revenue was $2.0B in Q3 2026, up 5% year over year and down 3% from the previous quarter.

Gross margin was 38.8%, down 0.9 points from Q3 2025. Operating profit was $0.27B, a 13.7% margin (up 0.6 points year over year). Of the extra revenue versus Q3 2025, 25% reached operating profit, above the 13% margin then. Operating expenses fell 0% while revenue rose 5%. Net earnings were $0.18B, up 24% year over year. The effective tax rate was 26.3%.

Operating cash flow was $0.24B (down 23% year over year), 139% of net earnings. Non-cash charges added back $0.06B of depreciation and amortization. Capital expenditures of $0.07B left free cash flow of $0.17B.

Quarterly history

Coca-Cola Consolidated revenue by quarterCoca-Cola Consolidated revenue by quarter$1.6BQ1 2025$1.9BQ2 2025$1.9BQ3 2025$1.9BQ4 2025$1.8BQ1 2026$2.1BQ2 2026$2.0BQ3 2026
Coca-Cola Consolidated net earnings by quarterCoca-Cola Consolidated net earnings by quarter$104MQ1 2025$187MQ2 2025$142MQ3 2025$137MQ4 2025$112MQ1 2026$159MQ2 2026$176MQ3 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 202610-QNov 4, 2026$2.0B+5%13.7%$176M$244M
Q2 202610-QAug 5, 2026$2.1B+11%13.2%$159M$215M
Q1 202610-QMay 6, 2026$1.8B+17%12.9%$112M$205M
Q4 202510-KFeb 18, 2026$1.9B+9%12.7%$137M$209M
Q3 202510-QOct 29, 2025$1.9B+7%13.1%$142M$317M
Q2 202510-QJul 24, 2025$1.9B+3%14.7%$187M$208M
Q1 202510-QApr 30, 2025$1.6B-0.7%12.0%$104M$198M

Charts

Coca-Cola Consolidated: revenue growth, year over year and quarter over quarterCoca-Cola Consolidated: revenue growth, year over year and quarter over quarterY/YQ/Q-1%Q1 2025+3%+17%Q2 2025+7%+2%Q3 2025+9%+1%Q4 2025+17%-3%Q1 2026+11%+11%Q2 2026+5%-3%Q3 2026
Latest (Q3 2026): Y/Y +5%, Q/Q -3%.
Coca-Cola Consolidated: where the cash came from (+) and went (−), TTM to Q3 2026Coca-Cola Consolidated: where the cash came from (+) and went (−), TTM to Q3 2026Buybacks−$2.5BCash drawn (+) / kept (−)$1.2BOperating cash flow$874MOther financing$655MCapital spending−$322MOther investing$131MDividends−$71.3MAsset & business sales$739KNet borrowing (+) / repaid (−)−$548K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Coca-Cola Consolidated: profit against cash, quarter by quarterCoca-Cola Consolidated: profit against cash, quarter by quarterNet incomeOperating cash flow$179M$168MQ4 2024$104M$198MQ1 2025$187M$208MQ2 2025$142M$317MQ3 2025$137M$209MQ4 2025$112M$205MQ1 2026$159M$215MQ2 2026$176M$244MQ3 2026
Latest (Q3 2026): Net income $176M, Operating cash flow $244M.
Coca-Cola Consolidated: long-term debt falling due (FY2025)Coca-Cola Consolidated: long-term debt falling due (FY2025)$100M2026$900M2028$700M2029$600M2030$500MLater
Cash $282M, short-term investments $0, long-term debt $2.8B at 2025-12-31.
Coca-Cola Consolidated in its industry: growth against margin (6 companies, SIC 2086)Coca-Cola Consolidated in its industry: growth against margin (6 companies, SIC 2086)revenue growth, year over year →↑ operating marginmedian +17%median 18%MNSTCELHFIZZZVIAREEDCOKE (+5%, 14%)
Bottled & Canned Soft Drinks & Carbonated Waters; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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Customers and suppliers named in filings

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About Coca-Cola Consolidated

Coca‑Cola Consolidated, Inc., a Delaware corporation (together with its majority-owned subsidiaries, “Coca‑Cola Consolidated,” the “Company,” “we,” “us” or “our”), distributes, markets and manufactures nonalcoholic beverages in territories spanning 14 states and the District of Columbia. The Company was incorporated in 1980 and, together with its predecessors, has been in the nonalcoholic beverage manufacturing and distribution business since 1902. We are the largest Coca‑Cola bottler in the United States. Approximately 85% of our total bottle/can sales volume to retail customers consists of products of The Coca‑Cola Company, which include some of the most recognized and popular beverage brands in the world. We also distribute products for several other beverage companies, including Monster Energy Company (“Monster Energy”) and Keurig Dr Pepper Inc. (“Dr Pepper”).

In its own words, from its 10-K, filed Feb 18, 2026.

Coca-Cola Consolidated against its Bottled & Canned Soft Drinks & Carbonated Waters peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +5% against the peers' median +17%. Operating margin: 13.7% against the peers' median 17.7%.

CompanyQuarterRevenueY/YOp. margin
COKE Coca-Cola ConsolidatedQ3 2026$2.0B+5%13.7%
MNST Monster BeverageQ3 2026$2.6B+17%28.0%
CELH Celsius HoldingsQ3 2026$847M+17%20.3%
FIZZ National BeverageQ1 FY27$331M0%17.7%
ZVIA Zevia PBCQ3 2026$48.3M+18%-4.5%
REED Reed'sQ2 2026$7.5M-21%-54.3%

Source: Coca-Cola Consolidated 10-Q on SEC EDGAR · CIK 317540 · Bottled & Canned Soft Drinks & Carbonated Waters

Guidance and outlook

Coca-Cola Consolidated: what its forward-looking statements are about (10-Q filed 2026-11-04)Coca-Cola Consolidated: what its forward-looking statements are about (10-Q filed 2026-11-04)Other4Buybacks & dividends2Capital spending1Supply chain1Products1Demand1Deals1Costs1The economy1Financing1
14 statements; tone +0.00 (−1 all cautious, +1 all confident); 2 hedged.
Coca-Cola Consolidated: outlook statements against the filing beforeCoca-Cola Consolidated: outlook statements against the filing beforeConfident1Cautious1

13F: who owns COKE and who is buying

Largest holders of COKE (13F)Largest holders of COKE (13F)BlackRock$1.0BVanguard Group$872MVanguard Portfolio Management LLC$569MVanguard Capital Management LLC$488MBoston Partners$436MFirst Trust Advisors LP$373MState Street$342MGeode Capital Management, LLC$322MDiversified Trust$280MAQR Capital Management LLC$254M
Funds' net buying of COKE by quarter (13F)Funds' net buying of COKE by quarter (13F)−$186M2024-09−$4.9M2024-12$106M2025-03−$22.2M2025-06−$74.0M2025-09$100M2025-12$72.7M2026-03$593M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on COKE

History

Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results

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