The Coca-Cola Company (KO  ) looks to continue its recent stock rally when the beverage giant reports second-quarter financial results Tuesday before the market opens.

Here are the earnings estimates, analyst ratings and key items to watch:

Coca-Cola Q2 Earnings Estimates

Analysts expect the company to report second-quarter revenue of $13.15 billion, up from $12.5 billion in the year-ago quarter, according to Benzinga Pro data.

The company has topped revenue estimates in seven of the last 10 quarters, but has not done so in consecutive quarters.

Coca-Cola expects second-quarter earnings at 93 cents per share. That's up from 87 cents a year ago. The company has beaten EPS estimates in nine of the last 10 quarters.

Coca-Cola Analyst Ratings

Here are some of the most recent analyst ratings for Coca-Cola stock and their price targets:

  • Barclays: Maintained Overweight rating, raised price target from $89 to $91
  • UBS: Maintained Buy rating, raised price target from $92 to $98
  • Citigroup: Maintained Buy rating, raised price target from $91 to $97
  • Bank of America Securities: Maintained Buy rating, raised price target from $90 to $95
Key Items to Watch

The earnings report for Coca-Cola comes after peer PepsiCo (PEP  ) reported mixed Q2 results with revenue ahead of analyst estimates, but earnings per share missing estimates.

PepsiCo reported revenue growth of 6.4% year-over-year, with the North America beverage segment being a key with net revenue growth of 7% year-over-year. International beverages segment revenue was also a key to the company's revenue growth. Pepsi's food divisions saw pressure on growth during the quarter.

Unlike Pepsi, Coca-Cola is mainly reliant on revenue for beverages and doesn't have the same weakness potential for snack foods or changing consumer habits. Pepsi's report could mean good things for Coca-Cola with strength in beverage and weakness in food.

Pepsi reaffirmed its fiscal 2026 guidance, instead of raising. A strong report from Coca-Cola and raised guidance could see the stock performance continue to go in two different directions.

Coca-Cola stock is up 20.7% year-to-date in 2026, while Pepsi stock is down 2.0% in 2026.

First-quarter results from Coca-Cola showed strong consumer demand despite macroeconomic conditions in the United States and tension in the Middle East. A focus on affordability options appears to have paid off for the company.

These trends will be expected by investors and analysts once again in second-quarter results.

Berkshire Hathaway (BRK.A  ) has a new CEO in Greg Abel, but a long-running bet on Coca-Cola stock looks to be carried on by the Warren Buffett successor.

While Abel cut several positions in the conglomerate's investment portfolio, the 400 million Coca-Cola stake was kept.

This is a bet that has paid off for years and with Coca-Cola stock near all-time highs looks to be the right one from Abel.

A second-quarter 13F filing due out in August will show if Berkshire Hathaway changed its Coca-Cola position in the second quarter. For now, the assumption is that the stake is the same, which means Abel and the team will likely be paying close attention to Tuesday's earnings report.

Coca-Cola Stock Price Action

Coca-Cola stock trades at $83.94 versus a 52-week trading range of $65.35 to $85.68. The stock hit new all-time highs on July 7. Shares are up 22.5% over the last 52 weeks.