Coca-Cola hails World Cup sales boost as it lifts annual forecasts
KO•Shares rise in premarket trading
The company's shares rose 1.8% in premarket trading. They have risen about 20% so far this year, and have outperformed rival PepsiCo PEP.O, which has suffered from weak snacking demand in the United States in recent quarters.
Forecasts lifted for annual growth and EPS
Coca-Cola now expects 2026 organic revenue growth of about 5%, compared with its prior target of 4% to 5% growth.
Coca-Cola expects comparable earnings per share growth of 9% to 10%, compared with its earlier target of 8% to 9% growth.
Quarterly sales beat estimates on strong drink demand
July 28 (Reuters) - Coca-Cola KO.N on Tuesday raised its annual forecasts after it beat second-quarter estimates, driven by robust U.S. demand for its zero-sugar drinks and fairlife milk brand, as well as sales tied to the FIFA World Cup.
Increased consumption during the World Cup added to the momentum for Coca-Cola's trademark beverages and zero sugar sodas that have enjoyed resilient demand despite a broader softening in spending on non-essential items, particularly from lower-income consumers in the United States.
The beverage giant's second-quarter comparable revenue rose about 6% to $13.37 billion, beating estimates of $13.16 billion, according to data compiled by LSEG.
World Cup campaign and pricing supported volume growth
Coca-Cola is FIFA's long-standing official beverage sponsor, and the company said its campaign for the World Cup 2026 contributed to volume growth in its trademark Coca-Cola and energy drink Powerade during the quarter ended July 3.
Raising prices on some products and offering smaller pack sizes for its sodas for more cost-conscious consumers gave an additional boost to Coca-Cola's sales.
