Management remarks
Call period: 2026 Q2 · 2026-07-28
Guidance: John Murphy: Based on our year-to-date results and expectations for the balance of the year, including 6 fewer days in the fourth quarter, we expect to deliver at the high end of our prior revenue guidance with organic revenue growth of approximately 5%. We now expect comparable currency-neutral earnings per share growth, excluding acquisitions and divestitures of 7% to 8%.Demand and orders: Henrique Braun: Harnessing our total beverage portfolio, we grew volume 3% by leveraging our growth flywheel. We had strong volume growth for many brands, including Trademark Coca-Cola, fairlife, Powerade, FRESCA, Gold Peak, smartwater and Simply.Margins: John Murphy: Comparable gross margin increased approximately 120 basis points and comparable operating margin increased approximately 90 basis points.Analyst Q&A
Analyst Bonnie Herzog asked: I just had a quick question on your updated guidance, which does now imply more bottom line leverage for the year. So maybe just hoping to understand the drivers of this? Management John Murphy answered: As we've seen many times, what happens during a quarter is not necessarily reflective of the investments that take place in the quarter. But over the long haul, we're committed to continuing to invest ahead of the curve. That may mean quarter-to-quarter higher levels than gross margin. Sometimes it will be lower levels, number one. Number two, one of the areas that we are very focused on is the quality of the investments and leveraging an increasing set of new capabilities supported by AI and digital to be able to do so.管理层陈述
电话会期间：2026 Q2 · 2026-07-28
指引：约翰·墨菲：基于我们今年迄今的业绩以及对剩余年度的预期（包括第四季度少6天），我们预计将达到此前营收指引的上限，有机营收增长率约为5%。我们目前预计，不计并购的情况下，经调整的货币中性每股收益增长率为7%至8%。需求与订单：恩里克·布劳恩：凭借我们完整的饮料产品组合，我们通过利用增长飞轮实现了3%的销量增长。我们多个品牌的销量增长强劲，包括经典可口可乐、fairlife、Powerade、FRESCA、Gold Peak、smartwater和Simply。利润率：约翰·墨菲：可比毛利率增长约120个基点，可比营业利润率增长约90个基点。分析师问答
分析师邦妮·赫尔佐格：我想请教一下公司的最新业绩指引，该指引目前意味着全年将实现更强的净利润杠杆效应，能否请您说明背后的驱动因素？ 管理层约翰·墨菲：正如我们多次所见，单季度的表现未必能反映当季的投资情况。但长期来看，我们承诺会持续提前布局投资，这可能导致季度毛利率出现波动，有时更高有时更低，这是第一点。第二点，我们非常注重投资质量，并将利用越来越多由人工智能和数字化技术支持的新能力来达成目标。This earnings-call research was prepared from company results, regulatory filings, financial statements, and earnings-call transcripts or official replays. It is for informational purposes only and does not constitute investment advice.这篇财报电话会研究基于公司公告、监管文件、财务报表，以及真实电话会文字稿或官方回放整理。内容仅供参考，不构成投资建议。
