Coca-Cola net revenue hits $47.9B as pricing power offsets volume stagnation

The Coca-Cola Company (NYSE:KO) reported fourth-quarter and full-year 2025 results on Tuesday, February 10, 2026, showcasing the strength of its global "all-weather" strategy.

The Atlanta-based beverage giant posted net revenue of $47.9 billion for the year, a 2% increase on a reported basis, while organic revenues (non-GAAP) surged 5%.

For the fourth quarter, net revenue grew 2% to $11.8 billion, surpassing the $11.6 billion anticipated by Wall Street.

The company’s bottom line reflected a year of heavy structural and legal activity.

Operating income for the fourth quarter declined 32%, primarily due to significant items impacting comparability, including a one-time $6.1 billion contingent consideration payment related to its 2020 acquisition of fairlife.

However, on a comparable currency-neutral basis, operating income grew 13% for both the quarter and the full year.

Comparable EPS for the quarter was $0.58, beating the $0.57 consensus estimate.

Volume growth remained modest as the company leaned into its pricing power to combat global inflation.

Global unit case volume grew 1% for the quarter but remained even for the full year.

Growth was spearheaded by Coca-Cola Zero Sugar, which saw a 14% increase in volume, while the "Water, Sports, Coffee, and Tea" segment grew 3%.

Conversely, "Juice, Value-Added Dairy, and Plant-Based" beverages saw a 3% decline, impacted by supply chain rebalancing in Asia Pacific and the Middle East.

Looking ahead to 2026, Coca-Cola provided a constructive outlook, forecasting 4% to 5% organic revenue growth and comparable currency-neutral EPS growth of 7% to 8%.