Coca-Cola has reported worse than anticipated fourth quarter sales, amid muted demand for its fizzy drinks in North America and Asia.
The soft drinks giant said sales in the three months to 31 December climbed 5% organically to $11.8bn. Analysts had expected sales to come in at $12.03bn.
Organic earnings climbed 6% to $0.58 per share, slightly ahead of expectations of $0.56 per share.
Volumes, meanwhile, were up by 1% across the quarter, and flat across the full year.
Much like its rival PepsiCo, Coca-Cola has been raising prices to offset higher input costs, resulting in declining demand its drinks. Price mix climbed by 1% in the quarter and 4% across the full year, the supplier said.
As a result, Coca-Cola’s volumes were flat in Asia and fell 1% in North America in the 12 months to the end of December.
There were some signs of improvement in the most recent quarter, however, with volumes climbing 1% in North America and 2% in Latin America and Europe, Middle East & Africa.
With shoppers increasingly switching out traditional soft drinks for heathier products, Coca-Cola’s water, sports, coffee and tea division outperformed the rest of its portfolio. Volumes across the unit rose by 3% in the quarter, and 2% in the full year.
By contrast, Coca-Cola’s sparkling soft drinks business reported flat volumes for the quarter and full-year, with double-digit volume growth on Coke Zero Sugar offset against declines in the wider portfolio.
Meanwhile, Coca-Cola’s juice, value-added dairy and plant-based drinks division reported a 3% volume decline for the quarter and full year.
“I’m encouraged by our performance in 2025, which showed both the resilience and momentum that define our business,” said James Quincey, CEO of The Coca-Cola Company. “Looking ahead, we will focus on executing our strategy even better and positioning our system for long-term success.”
Shares in Coca-Cola fell 3% in pre-market trading.
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