KO · Earnings call · 2026Q3T · Full report

North America Market Performance

COCA COLA CO · 2026-10-27 · Importance 20 · Surprise 24

North America revenue grew and the company gained value share, while volume was even, partly reflecting July 4th timing and temporary challenges in certain finished-goods businesses. Management said volume performance improved sequentially each month during the quarter and highlighted growth in trademark Coca-Cola, Coca-Cola Zero, fairlife, Powerade, Fresca and Mr. Pibb. It identified improving Sprite and BODYARMOR performance and their supply chain as areas of work. Management also said restaurant-industry demand remained under pressure, with scanner data showing stronger at-home than away-from-home business.

Key facts

• COCA COLA CO returned Topo Chico to Texas and said volume would start to come back as it sequenced the return into 2027.
• COCA COLA CO said Q4 2026 would be its biggest North America quarter compared with the prior year, with six fewer days.
• COCA COLA CO reported that trademark Coca-Cola grew in North America in Q3 2026, Diet Coke and Coca-Cola Zero grew double digits, and fairlife and POWERADE also grew.
• Mr. Pibb had another quarter of double-digit volume growth for COCA COLA CO.
• COCA COLA CO said North America grew revenue, gained value share, expanded margins, and priced in line with inflation in Q3 2026.
• COCA COLA CO said its North America volume improved month by month during Q3 2026, with the July 4th holiday falling in Q2 affecting the first month of the quarter.
• COCA COLA CO reported North America revenue growth and value-share gains in Q3 2026, while volume was even.
• COCA COLA CO reported strong North America volume growth from trademark Coca-Cola, fairlife, Powerade, Fresca, and smartwater in Q3 2026.