The Coca-Cola Company (KO) increased its 2026 comparable earnings per share growth guidance to a range of 8% to 9%. This update raises the previous estimate of 7% to 8%.
The company reported 18% growth in comparable EPS during the first quarter. Unit case volume grew by 3% across every operating segment. Coca-Cola has now achieved 20 consecutive quarters of value share gains.
A one-point reduction in the underlying effective tax rate drove the improved outlook. CFO John Murphy projected the new tax rate at 19.9%.
Dairy subsidiary fairlife resumed most production following a ransomware attack. Management expects no material financial impact from the cyber incident.