Coca-Cola (NYSE:KO) reported fourth-quarter net revenues that came in below market expectations, with the company saying it is laying the groundwork for “long-term success” as it prepares for a leadership transition later this year.
Henrique Braun is set to assume the role of chief executive, taking the helm of the soft-drinks giant and brands such as Fairlife milk at a time when Coca-Cola has been refining package sizes to appeal both to budget-conscious consumers and to shoppers focused on healthier choices.
Persistent inflation continues to pressure household spending, while a growing share of U.S. consumers is prioritizing health-oriented options — a shift reinforced by the rise of widely used weight-loss drugs and the Make America Healthy Again movement under U.S. President Donald Trump’s administration.
Internationally, competition has intensified, with demand for Coca-Cola’s beverages softening in several markets, particularly across Asia.
Despite these challenges, current chief executive James Quincey said the company delivered a solid performance last year. He said he was encouraged by the group’s “resilience and momentum” in 2025.
“Looking ahead, we will focus on executing our strategy even better and positioning our system for long-term success,” Quincey said.
Fourth-quarter unit case volumes increased 1%, matching the prior quarter and outperforming expectations for a 0.66% decline, according to Bloomberg consensus estimates. Price and mix rose 1%, however, well below forecasts for growth of 4.62%.
Net revenues for the quarter totaled $11.8 billion, missing projections of $12.03 billion, while comparable earnings per share edged up to $0.58.
Coca-Cola shares were down more than 3% in U.S. premarket trading on Tuesday following the results.