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Coca-Cola and UPS raised 2026 guidance while Boeing posted a wider core loss, as Visa reports after the close ahead of Microsoft and Alphabet on Wednesday.
- Coca-Cola (KO) lifted its 2026 comparable EPS growth outlook to at least 11%, from 9% to 10%.
- UPS (UPS) raised full-year revenue guidance to about $92.6 billion after a third-quarter beat.
- Boeing (BA) reported a core loss of $0.34 per share on $24.2 billion of revenue.
Lead
Coca-Cola, Boeing and UPS reported third-quarter results before the open on Tuesday, October 27, starting a crowded earnings stretch that continues with Visa after the close and Microsoft and Alphabet after the bell on Wednesday. Two of the three morning reporters beat expectations and raised guidance. The third, Boeing, narrowed its loss on stronger defense and services revenue but still missed on earnings. The S&P 500 gained about 0.3%, the Nasdaq about 0.5% and the Dow about 0.04% in early trading, after the S&P 500 closed Monday at 7,676.77. The Federal Reserve also began a two-day policy meeting, with a rate hold widely expected.
What Did Coca-Cola, Boeing and UPS Report?
Coca-Cola and UPS beat consensus on earnings and revenue and raised their outlooks, while Boeing missed on earnings and reported revenue broadly in line with estimates.
Coca-Cola reported net revenue of $13.4 billion, up 7%, with organic revenue growth of 7% against an expected 4.3%. Comparable EPS rose 8% to $0.91, ahead of the $0.88 consensus. Global unit case volume grew 5%. The company now expects comparable EPS growth of at least 11% for 2026, up from 9% to 10%, the third guidance increase this year. Full-year organic sales growth is projected at 5%, slightly below the 5.2% consensus. Weakness in North American volume tempered the response, and the shares moved by less than 2% in premarket trading. UPS posted revenue of $22.9 billion, up 6.7%, with growth in every segment and against an expected $22.28 billion. Adjusted diluted EPS was $1.69 versus $1.63 expected, on an adjusted operating margin of 9.0%. The company raised 2026 guidance to about $92.6 billion in revenue, up from $91.2 billion, with adjusted operating profit of roughly $8.75 billion, adjusted EPS of about $7.28 and adjusted free cash flow of about $6.1 billion. Shares rose about 1.6% before the open. Boeing reported revenue of $24.2 billion, driven by higher defense and services volume, partly offset by a less favorable commercial delivery mix. The GAAP loss was $0.26 per share and the core loss $0.34, wider than the roughly $0.24 loss expected. Operating cash flow was $1.5 billion and free cash flow $0.5 billion. Backlog reached a record $745 billion. Shares edged up about 0.4% to $188.94 in early trading.Why Is Boeing's 737 Production the Focus?
Boeing's recovery depends on the 737 MAX, because the commercial airplanes unit is still the main drag on earnings. The company delivered 161 commercial aircraft in the quarter, including 124 737s, bringing the year-to-date 737 total to 367. The 737-7 has received amended type certification from the FAA, and the 737-10 followed in October. Those approvals clear the way for the two larger variants to enter the delivery stream. Investors are now watching whether monthly production rates can rise without new quality or regulatory interruptions, since that determines when free cash flow turns durably positive.
What Should Investors Watch in Visa's Results?
Visa's fiscal fourth-quarter report, due after the close, will show whether consumer spending and cross-border travel remain strong enough to support the company's premium valuation. Consensus calls for revenue of about $12.08 billion, up 12.7%, and adjusted EPS of $3.43 to $3.44, up about 15%. Total payments volume is projected to rise roughly 9.1% to about $4.09 trillion, with processed transactions up about 9.6%. Data processing revenue is expected to grow about 15%. For fiscal 2026, consensus sits near $45.84 billion in revenue and $13.22 in EPS. Visa shares were steady before the bell. Coca-Cola, Boeing, Visa and Microsoft are all members of the dow industrials average, so the results carry weight for the price-weighted index.
What Comes Next for Microsoft and Alphabet?
Microsoft and Alphabet report after the close on Wednesday, October 28, and the central question is whether heavy AI infrastructure spending is converting into durable revenue and profit. Microsoft (MSFT) is expected to post EPS of about $4.72 on revenue of about $90.6 billion. Alphabet (GOOGL) carries an options-implied move of roughly 6.2%. Amazon is also due this week, which makes cloud growth and capital expenditure guidance the main measures for the AI trade.
The earnings come alongside the Fed's decision on Wednesday, which will set the rate backdrop for a market that has pushed the Nasdaq Composite to 26,169.38 and the Dow to 52,361.58 at Monday's close. A hold is the base case, which shifts attention to the committee's language on inflation and the labor market.
Outlook
Tuesday's morning reports point to resilient consumer demand and freight volumes, with Coca-Cola and UPS both raising guidance, while Boeing's cash generation remains a work in progress. Visa will extend the consumer-spending read after the close, and Wednesday's Microsoft and Alphabet results, together with the Fed decision, will test sentiment on AI spending and the rate path.
Mentioned tickers: KO, BA, UPS, V, MSFT, GOOGL, AMZN
