Coca-Cola raised its full-year 2026 guidance following a second-quarter earnings beat, while PepsiCo maintained its more modest outlook amid ongoing North American weakness. Coca-Cola reported net revenue of $13.37 billion, up 7% year over year and ahead of estimates of $13.05 billion, with adjusted earnings per share of $0.97 beating the $0.92 consensus. The company lifted its organic revenue growth forecast to approximately 5% from a prior range of 4% to 5%, and now expects adjusted EPS growth of 9% to 10%, up from 8% to 9%. PepsiCo posted net revenue of roughly $24.18 billion, topping expectations of $23.86 billion, and adjusted EPS of $2.20, edging estimates of $2.19, but North American beverage volumes fell 4% and snack volumes were flat. PepsiCo reiterated its fiscal 2026 outlook for organic revenue growth of 2% to 4% and adjusted EPS growth of approximately 5% to 7%, while Coca-Cola's premium valuation and stronger growth trajectory have widened the divergence between the two consumer staples stocks.
The Coca-Cola CompanyRaised 2026 guidance after Q2 beat with revenue and EPS above estimates.
PepsiCo IncNorth American beverage volumes fell 4% and snack volumes flat, with outlook held steady.
Coca-Cola Europacific Partners PLC