---
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/40259733.md"
description: "KO 1Q26 First Take: As the first quarterly print under new CEO Henrique Braun, results were solid. Revenue and EPS beat estimates. 1) Organic revenue grew 10% in Q1. By driver, concentrate sales volume rose 8% YoY, while price/mix was up 2%. The quarter had six more selling days vs. last year, adding ~500bps to concentrate volume, but underlying sell-through remained very strong even ex-calendar. North America, the home market, was the standout. With last year's drag from a boycott among Hispanic consumers behind it, unit case volume rose 4% YoY vs. -3% a year ago. High-frequency scanner data indicate share gains across nearly all categories. By category, zero-sugar within CSDs continued to grow at double digits (+13%). Among other categories, tea led (+8% YoY), reflecting consumers' shift toward healthier, functional options beyond CSDs. GPM expanded 40bps to a record 63%, driven by mix shift toward higher-margin, health-oriented SKUs such as zero-sugar, Fairlife ultrafiltered milk, and premium sparkling water. Leveraging AI to boost efficiency in ad spend, supply chain, channel pricing, and customer ops, the opex ratio fell 130bps to 27.8%. Core OPM improved 90bps to 33.8%. Guidance: the company maintained organic revenue growth of 4–5%, but raised comparable EPS growth from +7–8% to +8–9%, mainly as FX flipped from a headwind to a ~300bps tailwind. For more details, stay tuned for Dolphin Research's detailed take and call. $Coca Cola(KO.US)"
datetime: "2026-04-28T12:43:14.000Z"
locales:
  - [en](https://longbridge.com/en/topics/40259733.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/40259733.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/40259733.md)
author: "[Dolphin Research](https://longbridge.com/en/news/dolphin.md)"
---

# KO 1Q26 First Take: As the first quarterly print u…


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## Comments (1)

- **小驰绝不割肉 · 2026-04-28T12:49:26.000Z**: Coca-Cola NB