Filing Flows › Coca Cola (KO) › Q1 2026
Coca Cola (KO) Q1 2026 earnings results (first quarter 2026)
10-Q filed Apr 30, 2026
Coca Cola (KO) reported revenue of $12.5B for the first quarter 2026 (Q1 2026), +12% from a year earlier and +5% from the quarter before. Operating margin was 35.0%, net earnings $3.9B (31.5% of revenue).
Coca Cola, Q1 2026: revenue $12.5B (+12% year over year), operating margin 35.0%, net earnings $3.9B, operating cash flow $2.0B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $12.5B | +5% | +12% |
| Gross profit | $7.9B | +11% | +13% |
| Operating profit | $4.4B | +137% | +19% |
| Net earnings | $3.9B | +73% | +18% |
| Operating cash flow | $2.0B | -46% | — |
| Free cash flow | $1.8B | -39% | — |
What changed
Revenue was $12.5B in Q1 2026, up 12% year over year and up 5% from the previous quarter. Concentrate operations was the largest line at 59% of revenue. Concentrate operations added $0.79B year over year (up 12%), 59% of the total change.
Gross margin was 63.0%, up 0.4 points from Q1 2025. Operating profit was $4.4B, a 35.0% margin (up 2.1 points year over year). Of the extra revenue versus Q1 2025, 52% reached operating profit, above the 33% margin then. Operating expenses grew 6% against revenue growth of 12%. Net earnings were $3.9B, up 18% year over year. The effective tax rate was 14.0%.
Operating cash flow was $2.0B, 51% of net earnings. Non-cash charges added back $0.26B of depreciation and amortization and $0.06B of share-based compensation. Working capital and other items used $2.3B. Capital expenditures of $0.27B left free cash flow of $1.8B.
Questions
What was Coca Cola's revenue in the first quarter 2026?
Coca Cola (KO) reported revenue of $12.5B for the first quarter 2026 (Q1 2026), +12% from a year earlier and +5% from the quarter before.
Was Coca Cola profitable in the first quarter 2026?
Operating profit was $4.4B (35.0% of revenue) and net earnings $3.9B.
Source: Coca Cola 10-Q on SEC EDGAR.