Coca-Cola and PepsiCo delivered contrasting second-quarter 2026 results, with Coca-Cola raising full-year guidance on 5% global unit case volume growth while PepsiCo reaffirmed guidance and conceded its Q2 volume fell short. Coca-Cola shares are up 33.35% year to date versus PepsiCo's 2.76% gain. PepsiCo posted $24.18 billion in revenue, up 6.4%, but its PFNA foods segment fell 2% and CEO Ramon Laguarta blamed a weaker consumer driven mainly by gas prices. Coca-Cola's revenue reached $13.38 billion, with Coca-Cola Zero Sugar volume up 16%, and new CEO Henrique Braun highlighted the FIFA World Cup platform spanning more than 180 markets. Coca-Cola's operating margin of 34.9% is more than double PepsiCo's 14.4%, though PepsiCo offers a 3.87% dividend yield backed by a 54th consecutive dividend increase.
The Coca-Cola CompanyCoca-Cola raised full-year guidance on 5% global unit case volume growth, with Zero Sugar up 16%.
PepsiCo IncPepsiCo's Q2 volume fell short, PFNA foods segment fell 2%, and CEO blamed weaker consumer.
Coca-Cola Europacific Partners PLC
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