Coca-Cola (KO) Q4 2025 Earnings Call Transcript

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Tuesday, Feb. 10, 2026 astatine 8:30 a.m. ET

• Chief Executive Officer — James Quincey

• Incoming Chief Executive Officer — Henrique Braun

• President and Chief Financial Officer — John Murphy

James Quincey: Thanks, Robin, and bully morning, everyone. Before I get started, I'd similar to convey each of you for your enactment and collaboration implicit the years, from the analysts connected the telephone to the investors who are listening to the galore employees and different stakeholders who are joining america arsenic well. Today volition beryllium my past net call. It's been a tremendous grant to beryllium the CEO of this singular company. Coca-Cola gave maine the accidental to service consumers, customers and communities astir the satellite and enactment alongside incredibly talented and dedicated colleagues and friends. Our institution has achieved a batch implicit the past decade.

Looking backmost to CAGNY 2017, we acceptable 4 strategical priorities: accelerating our consumer-centric marque portfolio, strengthening our system, digitizing the endeavor and unlocking the powerfulness of our people. And I deliberation we've done a bully occupation gathering those priorities. We've added 12 billion-dollar brands to our full beverage portfolio, bringing our full to 32 billion-dollar brands. 75% of our billion-dollar brands are extracurricular our sparkling brushed drinks. And portion we've expanded our portfolio to connection consumers much choice, we've besides reinvigorated maturation of our bequest sparkling brushed portion brands. Trademark Coca-Cola retail income grew by implicit $60 billion, and the marque is the highest valued nutrient and beverage marque successful the satellite according to Kantar with a agelong runway ahead.

Alignment with our bottling partners is amended than ever, and we person a wide enactment of show into completing our refranchising strategy. This enactment created a virtuous ellipse for our strategy with higher returns, further concern and further worth creation. We've besides taken foundational steps to digitize our system. We've made bully advancement connecting with consumers and customers connected a much granular and personalized level. And lastly, we've built a civilization that prioritize our willingness to instrumentality risks, larn done iteration, propulsion each different and standard successes. Our radical and our maturation mindset stay 2 of our biggest advantages.

As a effect of delivering connected these 4 strategical priorities, we've had a 7% mean integrated gross maturation since 2017, supra our semipermanent maturation algorithm. After years of being stuck astatine astir $2 comparable net per share, we inflected our earnings, overcame ongoing currency headwinds and person achieved a $3 comparable net per stock successful 2025. We besides created much than $150 cardinal of marketplace worth for our shareowners and outperformed the user staples industry. Our instauration contiguous is arsenic beardown arsenic it's ever been. No substance however you portion it by category, by consumer, by channel, we person immense maturation opportunities up of us.