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Coca Cola (KO) guidance and outlook
Coca Cola (KO) raised some and lowered other parts of its guidance on Oct 27, 2026: Revenue +1% for FY2026; Tax rate 19.7% for FY2026; EPS +9% for FY2026; Free cash flow $13.0B for FY2026. Coca Cola's 10-Q filed Oct 28, 2026 makes 17 forward-looking statements, 0 of them new and 0 no longer said since the filing before.
Guidance and outlook
Latest guidance
| Metric | Period | Range | Change |
|---|---|---|---|
| Revenue | FY2026 | +5% | new |
| Revenue | FY2026 | +1% | reaffirmed |
| Tax rate | FY2026 | 19.7% | lowered |
| EPS | FY2026 | +9% | raised |
| Free cash flow | FY2026 | $13.0B | raised |
| EPS | Q4 2026 | +4% | new |
| EPS | Q4 2026 | $1.00 | new |
| EPS | FY2027 | $1.00 | new |
From the earnings release filed Oct 27, 2026 (8-K on EDGAR).
Forward-looking statements, 10-Q filed Oct 28, 2026
- During the three months ended December 31, 2025, the operating results related to our BodyArmor sports performance and hydration beverage business, combined with lower expectations of future performance compared to the original forecasts, triggered the need to update the Company’s impairment analysis, including a reassessment of the business projections for the trademark.
- Management will continue to monitor the fair value of this trademark in future periods.
- We generally expect the differences between concentrate sales volume and unit case volume growth rates to be minimal on a full year basis; however, for the full year 2026 we currently expect worldwide concentrate sales volume growth to be slightly behind unit case volume growth.
- Based on current spot rates and our hedging coverage in place, we expect foreign currency exchange rate fluctuations will have a favorable impact on our full year 2026 net operating revenues.
- At the end of each quarter, we make our best estimate of the effective tax rate expected to be applicable for the full fiscal year.
- updated · Based on current tax laws, including the impact of several countries enacting global minimum tax regulations, the Company’s effective tax rate in 2026 is expected to be approximately 19.7% before considering the potential impact of any significant operating and nonoperating items that may affect our effective tax rate.
- The Company will continue to monitor developments to determine any potential impact in the countries in which we operate.
- We have a history of borrowing funds both domestically and internationally at reasonable interest rates, and we expect to be able to continue to borrow funds at reasonable rates over the long term.
- We currently have the ability to borrow funds in this market at levels that are consistent with our debt financing strategy, and we expect to continue to be able to do so in the future.
- We do not believe there is a risk that our payment terms will be shortened in the near future.
- We currently expect 2026 capital expenditures to be approximately $2.2 billion.
- During 2026, we expect to repurchase shares to offset dilution resulting from employee stock-based compensation.
Coca Cola's latest quarter
Coca Cola, Q3 2026: revenue $13.4B (+7% year over year), operating margin 33.4%, net earnings $4.0B, operating cash flow $4.9B. The chart follows the revenue to costs, profit and cash.
Questions
Did Coca Cola raise or lower its guidance?
Coca Cola (KO) raised some and lowered other parts of its guidance on Oct 27, 2026: Revenue +1% for FY2026; Tax rate 19.7% for FY2026; EPS +9% for FY2026; Free cash flow $13.0B for FY2026.
What does Coca Cola expect?
Based on current tax laws, including the impact of several countries enacting global minimum tax regulations, the Company’s effective tax rate in 2026 is expected to be approximately 19.7% before considering the potential impact of any significant operating and nonoperating items that may affect our effective tax rate.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.