Coke Is Aiming Small — 4–5% Growth — as Shoppers Tighten their Belts

CNBC, The Coca-Cola Company, the Wall Street Journal, AP, and Bloomberg contributed to this report.

Coca-Cola missed Wall Street’s revenue mark for the first time in five years, but isn’t panicking. The Atlanta giant reported modest fourth-quarter results — net sales of about $11.8 billion and unit case volumes up just 1% — and told investors it’s targeting 4%–5% organic revenue growth for 2026. That’s a cautious, “slow-and-steady” number meant to reflect softer consumer spending.

The headline miss knocked the stock down a few percent on Tuesday, even though adjusted earnings of 58 cents a share edged past expectations. The company says the weak spots were predictable: price-sensitive shoppers pulling back on grocery bills and tougher demand in parts of Asia and Europe. North America and Latin America, by contrast, are finally showing signs of life — volumes rose 1% and 2% respectively.

There were bright spots. Coke’s water, sports, coffee and tea portfolio outperformed the rest of the business, with brands like Smartwater and Bodyarmor helping the segment grow. Coca-Cola Zero Sugar jumped double digits, too — evidence that consumers will still pay a little extra for perceived healthier or premium options.

Management is leaning into that trend: expect more local product bets, faster rollouts and digital moves to squeeze more sales out of existing customers. Incoming CEO Henrique Braun — taking over at the end of March — has flagged speed, better Go-to-Market execution and more digital muscle as priorities. The company’s also tinkering with price points (hello, 7.5-ounce mini cans) to make sodas feel more affordable.

Coke isn’t blind to external risks: new sugary-drink taxes and SNAP purchase restrictions in some US states could nudge behavior. The company says those shifts are manageable but they do add friction to growth plans, especially in price-sensitive markets.

Bottom line: Coca-Cola’s not expecting fireworks — just steady, manageable growth next year. The story now is execution: can Coke translate small volume gains in key markets and a focus on premium/healthier drinks into the kind of consistent top-line momentum investors want?