Coca-Cola Raises Adjusted Earnings Growth Forecast to at Least 11% After Per-Share Profit Rises
Key Facts
Coca-Cola raised its forecast for adjusted earnings per share growth in 2026 to at least 11%, after reporting an 11% year-over-year increase to $0.91 in the third quarter. Diluted earnings were $0.93 per share, a different measure from the adjusted figure. Net revenue also rose 7% to $13.4 billion, the company said in a statement. The results show continued growth in revenue and adjusted earnings per share compared with the same period a year earlier. The company said revenue growth reflected higher concentrate sales and improved price and product mix.
Coca-Cola concentrate sales rose 7% in the quarter, while price and product mix increased 1%, the company said. Net revenue in the third quarter of 2025 grew 5% to $12.5 billion, compared with a 7% increase in the current period. Adjusted earnings per share also rose from $0.82 in the third quarter of 2025 to $0.91. The company said in its statement that adjusted earnings per share "grew 11% to $0.91." It raised its annual growth forecast to at least 11%, from a previous range of 9% to 10%.
Invesco reported adjusted diluted earnings of $0.72 per share in the third quarter, compared with GAAP diluted earnings of $0.65. Adjusted earnings were $0.61 per share in the third quarter of 2025. Net long-term inflows totaled $35.1 billion, down from $45.1 billion in the second quarter but above $28.9 billion a year earlier. The chief executive said the company delivered 6% annual organic growth, driven by those inflows and $47 billion in global liquidity flows. Assets under management at the end of September totaled $2.5378 trillion, up 19.4% year over year and 2.7% from the previous quarter.
Invesco said market losses reduced assets under management by $26.4 billion during the quarter, while foreign-exchange movements added $4.5 billion. These factors, alongside net flows, help explain changes in assets under management, as the company combined positive long-term inflows with a negative impact from market losses. On October 26, the company repurchased $1.5 billion of its Series A preferred shares held by MassMutual. The transaction was financed with a five-year floating-rate bank loan of the same amount, the company said on October 27. Invesco shares closed at $28.53 on October 26.
In water solutions, Xylem said project timing and more cautious spending decisions weighed on revenue, while strong orders and operating performance supported results. The company described its order activity and performance as reflecting "business resilience." Its shares fell 4.5% in premarket trading on October 27 after it published results and its annual guidance, according to Investing.com. That places revenue performance, affected by project timing and cautious spending, alongside the demand and earnings indicators cited by the company. The available evidence did not include detailed figures for Xylem’s results or a quantitative comparison with expectations.
On the economic data front, new orders for U.S. durable goods rose 1.8%, or $6.3 billion, to $345.4 billion in September. That followed a 0.1% increase in August, while orders excluding transportation rose 0.5% in September, according to the U.S. Census Bureau. The Federal Reserve is scheduled to hold its Federal Open Market Committee meeting on October 27 and 28. The October 28 schedule includes a news conference, according to the central bank’s calendar. Coca-Cola shares closed at $92.70 on October 26, ahead of the meeting and the company’s results announcement.