Coca-Cola falls on dip in volumes sold, but promises cane sugar Coke in US

Coca-Cola is modestly lower after reporting second-quarter adjusted operating revenues and comparable earnings per share ahead of Wall Street’s estimates. Shares, which were trading 1% to the upside ahead of this release, are now 1% lower in the premarket.

The company’s price/mix — which measures what’s sold where and the price it’s sold at — was up 6%, but concentrate volumes sold were down 1% year on year in the second quarter.

The iconic American beverage company also raised the floor for its full-year comparable EPS growth to 3%, after previously expecting growth in a range of 2% to 3%. That’s driven by favorable changes in foreign exchange, where the firm no longer sees as stiff of a headwind. Management maintained guidance for organic revenue growth between 5% to 6%, slightly lower than analysts’ expectations.

Perhaps more importantly... move over pumpkin spice szn, fall is now cane sugar szn:

“As part of its ongoing innovation agenda, this fall in the United States, the company plans to launch an offering made with US cane sugar to expand its Trademark Coca-Cola product range,” per the press release. “This addition is designed to complement the company’s strong core portfolio and offer more choices across occasions and preferences.”

This announcement comes after President Donald Trump said on Truth Social that he had convinced Coca-Cola to do this, remarks that sent high-fructose corn syrup maker Archer-Daniels-Midland lower. Again, we’d emphasize that this cane sugar offering is an expansion of its product portfolio, not a replacement of the second most important ingredient in its flagship US beverage (high-fructose corn syrup).