Coca-Cola reported third-quarter adjusted earnings per share of $0.91, beating consensus by $0.03, and revenue of $13.4 billion, and raised its full-year outlook to at least 5% organic revenue growth, at least 11% comparable EPS growth and at least $13 billion of free cash flow. Still, the stock fell roughly 1.6% on Oct. 27 as North American unit case volume was flat in the quarter and restaurant industry pressure is expected to persist into 2027. The planned refranchising of its Coca-Cola Beverages Africa bottling franchise in the fourth quarter is expected to create a 4% headwind to comparable net revenue in the quarter and 8% in 2027. Wells Fargo analyst Chris Carey kept an overweight rating and raised his price target by $10 to $100, citing expanding margins and strong guidance, while the stock is up roughly 32.5%.
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