US consumer spending held up for several companies in the third quarter of 2026, with Coca-Cola reporting steady North American volume and Royal Caribbean serving more guests. But Whirlpool’s weaker appliance sales and muted demand at Sherwin-Williams showed that spending was uneven.

Key Takeaways

  • Coca-Cola and UPS raised their full-year forecasts after beating earnings expectations.
  • Royal Caribbean served 2.7 million guests in the quarter, up 9% from a year earlier.
  • Whirlpool cut its revenue guidance after North American sales fell more than 8%.

US consumer spending holds up unevenly

The results came against concern that higher fuel prices and borrowing costs could restrain household spending. Retail sales rose 0.8% in September after increasing 1.3% in August. Higher spending at gas stations contributed to September’s gain.

Coca-Cola beat analysts’ expectations for third-quarter earnings and revenue. North American unit case volume was flat, while higher demand outside the region helped overall volume. CEO Henrique Braun described the environment as uneven.

The beverage company raised its full-year forecast for comparable earnings per share growth to at least 11%, from a previous range of 9% to 10%.

Cruise bookings rise as appliance sales fall

Royal Caribbean beat earnings-per-share expectations but narrowly missed revenue estimates. The cruise operator said third-quarter guest numbers rose 9% year over year to 2.7 million, and booking volumes for 2027 were up in the high teens and pacing ahead of historical levels.

CEO Jason Liberty said the company’s results reflected resilience among consumers seeking vacations. Its shares closed more than 5% higher on October 27.

Whirlpool, by contrast, missed earnings and revenue expectations and cut its full-year revenue guidance. North American net sales fell more than 8% year over year in the quarter ended September 30.

UPS raises its outlook; paint demand remains muted

UPS beat earnings and revenue expectations as US revenue rose 4.5% to $14.86 billion. The delivery company raised its full-year consolidated revenue forecast to approximately $92.6 billion from $91.2 billion.

CEO Carol Tomé said consumers remained resilient ahead of the holiday season. She also said fourth-quarter domestic average daily volume would likely fall as UPS reduces deliveries for Amazon.

Sherwin-Williams reported 7.9% year-over-year sales growth, which it attributed to higher selling prices. The paint company maintained its full-year guidance but said customer sentiment and its leading indicators pointed to muted demand for the rest of 2026 and into 2027.

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