Coca‑Cola earnings - summary
- Coca‑Cola reports rising revenues and strong earnings despite industry‑wide volatility
- Zero Sugar leads growth with robust increases across all global markets
- Tea, sports drinks and water deliver steady gains across key regions
- Juice, value‑added dairy, and plant‑based categories declined due to regional and structural challenges
- Incoming CEO Henrique Braun inherits stable performance and significant future opportunities
The Coca-Cola Company has announced major wins in its latest earnings report.
The beverage giant released its fourth quarter and full year 2025 results this morning, boasting $11.8bn (€9.9bn) net revenue in the last quarter alone.
While many of the industry’s biggest players are posting sizeable losses – most notably Hershey – Coca-Cola has managed to achieve a 2% net revenue increase, taking its overall 2025 earnings to $47.9bn (€40.2bn).
On top of this, organic revenues (non-GAAP) were up 5%, driven by 4% growth in price/mix and a 1% increase in concentrate sales.
This is good news for shareholders who benefit from a chunky 23% EPS increase to $3.04 for the year, while comparable EPS (non-GAAP) grew 4% to $3.00.
Top performers
Sales were strongest in categories showing broad-based global momentum.
Coca‑Cola Zero Sugar led performance with 13% growth for the quarter and 14% for the full year, driven by increases across all operating segments.
Sparkling soft drinks held steady, while Trademark Coca‑Cola rose 1% for the quarter, supported by growth in every geographic region.
Other bright spots included tea, which grew 5% in the quarter and 2% for the year, and sports drinks, which rose 5% in the quarter and 1% annually, with both categories benefiting from strength in Latin America, Asia Pacific, and EMEA.
Water also delivered solid results, growing 4% in the quarter and 2% for the year.
By contrast, several sectors posted declines. The weakest performers were juice, value‑added dairy, and plant‑based beverages, which fell 3% for both the quarter and the full year as gains in Latin America were outweighed by declines in Asia Pacific and EMEA, and further impacted by the sale of finished product operations in Nigeria.
Sparkling flavours also slipped, declining 1% across both periods due to drops in Asia Pacific.
Coca-Cola’s new CEO
The results come as Henrique Braun prepares to take the helm of the company next month.
The former Coca-Cola COO will take over from James Quincey on 31 March.
Quincey meanwhile is to become executive chairman, leaving Braun to inherit a company with robust profit growth.
This marks a pivotal moment for the drinks maker. Braun’s global experience, combined with Coca‑Cola’s broad category portfolio and strong financial position, gives the company room to innovate, diversify and capture new growth across emerging markets and evolving beverage trends.
But isn’t all positive. Last month the owner of brands including Coca-Cola, Sprite, Schweppes, and Fanta announced it’s to cut 75 corporate jobs at its Atlanta headquarters as part of a wider restructuring across the business.
“We’re evolving our organisation to unlock growth we see ahead. This is something we’ve been doing steadily, and it is something we will continue to do,” said Coca-Cola spokesperson Scott Leith in a statement. “It’s vital to ensure our organisation is built to meet changing consumer needs, including adapting alongside the rapid developments in technology and innovation.”
The company has also been struggling to offload British coffee chain Costa Coffee, with plans reportedly now scrapped.
Looking ahead
Despite pockets of weakness across certain categories and the turbulence of ongoing restructuring, Coca‑Cola enters its next chapter with significant forward momentum.
With rising revenues, stable volume performance, and resilient shareholder returns, the business has demonstrated its ability to grow even in a challenging global environment.
As consumer preferences continue to shift and technology reshapes how brands engage with audiences, Coca‑Cola is positioning itself to move faster and operate smarter – laying the groundwork for long‑term opportunity under its incoming leadership.
And we will, of course, be watching to see what the world’s biggest beverage company does next.
