KO · 10-Q · 2026Q4 · Full report

FX / Currency Impact

COCA COLA CO · 2026-10-28 · Importance 25 · Surprise 32

Coca-Cola says its international operations face currency fluctuations and governmental actions, and that it monitors country-level economic and political environments. Hedging is intended to mitigate part of the exchange-rate impact on net income over time. After hedging, currency fluctuations increased operating income by 3% for the three months and 4% for the nine months ended October 2, 2026. Based on current spot rates and hedging coverage, the company expects currency fluctuations to benefit operating income and operating cash flows through year-end 2026.

Key facts

• Based on current spot rates and hedging coverage, Coca-Cola expects foreign currency exchange rate fluctuations to have a favorable impact on operating income and operating cash flows through year-end. source
• Foreign currency exchange rate fluctuations increased Coca-Cola's operating income by 3% for the three months and 4% for the nine months ended October 2, 2026, taking hedging activities into account. source
• For full-year 2026, the Company expects foreign currency exchange rate fluctuations to favorably impact net operating revenues, based on current spot rates and hedging coverage. source
• For full-year 2026, the Company expects foreign currency fluctuations to favorably impact operating income, based on current spot rates and hedging coverage. source
• Foreign currency fluctuations favorably impacted consolidated net operating revenues by 1% in the three months ended October 2, 2026. source
• Foreign currency fluctuations favorably impacted consolidated net operating revenues by 2% for the nine months ended October 2, 2026. source
• Foreign currency fluctuations increased selling, general and administrative expenses by 2% for the nine months ended October 2, 2026. source
• Foreign currency fluctuations favorably impacted consolidated operating income by 3% for the three months ended October 2, 2026. source