The World Cup showed up in Coca-Cola's books. The Atlanta beverage giant reported 5% global unit case volume growth in the second quarter, with net sales climbing 7% to $13.9 billion and net income rising 16% to $4.4 billion, though cost of goods sold also increased 5% to nearly $5 billion.
Coca-Cola is a longtime tournament sponsor and holds exclusive pouring rights for nonalcoholic beverages inside host city stadiums — 16 cities this time, Atlanta among them. \"We actually had the highest incidence of beverages in a World Cup ever,\" CEO Henrique Braun said on a conference call. \"We got around 80%, which represents roughly close to one drink per attendee at the venues.\" FIFA reported that across the 39-day competition, supporters inside stadiums consumed more than 4.6 million soft drinks and bottled waters.
The volume numbers underneath are the ones the company is pointing at. Trademark Coke grew 5% in the quarter — the strongest growth in 17 years, excluding the rebound from the COVID-19 pandemic — and Powerade volume grew 8% globally, helped, per Reuters, by the hydration breaks built into matches. The marketing push spanned more than 180 markets and over 20 million retail outlets. In Atlanta it was inescapable, including a building wrap on the Signia by Hilton Atlanta designed to look like a Coca-Cola soccer ball had smashed through the hotel's windows.
Coca-Cola also treated the tournament as a data exercise, capturing more than 25 million consumer data points and generating more than 9 billion views through digital and social activations, partly via \"connected\" packaging with QR codes offering World Cup content and rewards. \"We captured that opportunity well, and we believe that the learnings will be passed onto further campaigns,\" Braun told the AJC. He said he attended matches in Atlanta and came away impressed: \"I think we got the vibrance that we wanted for the city, and Atlanta did a tremendous job of being a host city.\"
Other factors helped the quarter, including favorable weather in some markets and an easier prior-year comparison, said president and CFO John Murphy. With matches continuing into July, Braun said it would be difficult to quantify the overall impact, including for the third quarter. The company nonetheless raised its full-year forecast, now expecting comparable earnings per share growth of 9% to 10%, up from 8% to 9%.
That upgrade comes against a consumer picture Braun called \"uneven\" — including elevated gasoline prices tied to the war in Iran, with regular unleaded in metro Atlanta averaging $3.95 a gallon, about $1 higher than a year earlier, per AAA. \"The economy is strong in many places, yet many consumers face inflationary pressures, geopolitical uncertainty and economic challenges,\" he said. His stated response is to stay close to the consumer, holding the line on affordability while offering premium products for those who will pay for them.
Original reporting: The Atlanta Journal-Constitution (2026-07-22)
