Coca-Cola Europacific Partners (NASDAQ:CCEP) Announces Quarterly Earnings Results

Key Points

• CCEP reported strong first-half operating performance: Revenue increased 6.1% to €10.7 billion, operating profit rose 8.1% to €1.5 billion, and diluted EPS grew 10.6% to €2.20, supported by broad-based market growth and cash generation.
• Management reaffirmed its 2026 guidance, including comparable free cash flow of at least €1.7 billion, while noting cost volatility and Middle East-related expenses as second-half risks.
• Growth was led by zero-sugar, energy, sports and hydration categories, with Southeast Asia gaining momentum. CCEP is also increasing investments in coolers, AI, technology, supply-chain capacity and manufacturing while pursuing productivity savings.

Coca-Cola Europacific Partners (NASDAQ:CCEP - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $1.26 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.47 by ($1.21), FiscalAI reports. The business had revenue of $6.14 billion for the quarter, compared to analysts' expectations of $12.22 billion.

Here are the key takeaways from Coca-Cola Europacific Partners' conference call:

• CCEP reported a strong first half: revenue rose 6.1% to €10.7 billion, operating profit increased 8.1% to €1.5 billion, and diluted EPS grew 10.6% to €2.20. Growth was broad-based across markets, with continued value-share gains and strong cash generation.
• Management reaffirmed all 2026 guidance, including comparable free cash flow of at least €1.7 billion, despite six fewer trading days in the second half. The company said the second half has started well, although it is maintaining a cautious stance with five months remaining and continued cost volatility.
• Faster-growing categories continued to outperform: zero-sugar volumes rose 10%, energy volumes increased 19%, sports and hydration grew 12%, and Monster gained 230 basis points of share. Innovation such as Coke Zero variants, Super Cans, Powerade in Indonesia, and Monster Ultra supported consumer recruitment and premium mix.
• Southeast Asia is emerging as a key growth engine, with strong momentum in the Philippines and improving execution in Indonesia following a route-to-market overhaul. The Philippines facility remains on track for 2027, while margins in the market are approaching the company’s 10% target.
• CCEP is accelerating investment in coolers, technology, AI, supply-chain capacity, and manufacturing while pursuing productivity savings. Management cited attractive cooler returns and potential long-term benefits from AI, but noted that Middle East-related costs are expected to weigh more heavily in the second half and that commodity volatility remains an open risk.

Coca-Cola Europacific Partners Price Performance

Shares of Coca-Cola Europacific Partners stock opened at $103.27 on Tuesday. Coca-Cola Europacific Partners has a 52-week low of $84.65 and a 52-week high of $113.67. The company has a debt-to-equity ratio of 1.23, a quick ratio of 0.60 and a current ratio of 0.80. The stock's 50-day simple moving average is $101.33 and its 200 day simple moving average is $98.01.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on CCEP. Barclays increased their target price on shares of Coca-Cola Europacific Partners from $108.00 to $114.00 and gave the company an "overweight" rating in a report on Tuesday, July 21st. Weiss Ratings downgraded shares of Coca-Cola Europacific Partners from a "buy (b+)" rating to a "buy (b)" rating in a research report on Monday, May 18th. UBS Group increased their price objective on shares of Coca-Cola Europacific Partners from $107.00 to $109.00 and gave the company a "buy" rating in a research note on Wednesday, April 29th. Wells Fargo & Company lifted their target price on shares of Coca-Cola Europacific Partners from $115.00 to $120.00 and gave the stock an "overweight" rating in a research report on Monday. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Coca-Cola Europacific Partners in a research report on Thursday, July 2nd. Eight analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $108.50.

Hedge Funds Weigh In On Coca-Cola Europacific Partners

• Why Chemours Co NYSE: CC Stock is the Recipe for Gains

Several large investors have recently modified their holdings of CCEP. Lazard Asset Management LLC lifted its holdings in shares of Coca-Cola Europacific Partners by 310.4% in the third quarter. Lazard Asset Management LLC now owns 2,329,999 shares of the company's stock worth $210,802,000 after buying an additional 1,762,299 shares in the last quarter. Bank of America Corp DE increased its holdings in Coca-Cola Europacific Partners by 32.8% during the 2nd quarter. Bank of America Corp DE now owns 2,870,553 shares of the company's stock worth $266,158,000 after acquiring an additional 709,723 shares during the period. Man Group plc lifted its stake in Coca-Cola Europacific Partners by 219.8% in the 2nd quarter. Man Group plc now owns 1,001,770 shares of the company's stock worth $92,884,000 after purchasing an additional 688,506 shares in the last quarter. Danske Bank A S bought a new position in Coca-Cola Europacific Partners in the 3rd quarter valued at $29,718,000. Finally, Caisse de depot et placement du Quebec purchased a new position in shares of Coca-Cola Europacific Partners during the 4th quarter valued at $23,814,000. Hedge funds and other institutional investors own 31.35% of the company's stock.

About Coca-Cola Europacific Partners

Coca-Cola Europacific Partners is a major independent bottler and distributor of nonalcoholic ready-to-drink beverages, operating under a long-standing franchise relationship with The Coca-Cola Company. The business manufactures, bottles, sells and delivers a broad portfolio of global and local beverage brands, including still and sparkling soft drinks, waters, juices, sports drinks and ready-to-drink teas and coffees. Its activities encompass production, packaging, marketing and route-to-market distribution for retail, foodservice, convenience and vending customers.

The company was created through the combination of Coca-Cola European Partners and Coca-Cola Amatil in 2021, bringing together beverage operations across Europe and the Asia-Pacific region.

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