Coca-Cola sales beat estimates, helped by higher prices

By omshreeinfotech Feb 13, 2024
Coca-Cola sales beat estimates, helped by higher prices

Bottles of Coca-Cola are displayed in San Anselmo, California, on April 24, 2023.

Justin Sullivan | Getty Images

Coca-Cola on Tuesday posted quarterly earnings that met expectations and sales that topped estimates, as higher prices helped the beverage maker overcome a quantity decline in North America.

Here’s what the corporate reported in contrast with what Wall Street was anticipating, primarily based on a survey of analysts by LSEG, previously often known as Refinitiv:

  • Earnings per share: 49 cents adjusted vs. 49 cents anticipated
  • Revenue: $10.85 billion vs. $10.68 billion anticipated

Shares of the corporate rose lower than 1% in premarket buying and selling.

Coke reported fourth-quarter web revenue of $1.97 billion, or 46 cents per share, down from $2.03 billion, or 47 cents per share, a yr earlier.

Excluding objects, the corporate earned 49 cents per share.

Net sales rose 7% to $10.85 billion. Coke’s natural income, which strips out acquisitions and divestitures, climbed 12% within the quarter.

Coke reported unit case quantity progress of two% for the quarter. The metric excludes pricing and international foreign money.

However, North American quantity shrank 1%, as demand for Coke’s water, sports activities drinks, espresso and tea fell throughout the quarter.

For 2024, Coke is forecasting natural income progress of 6% to 7% and a rise in comparable earnings per share of 4% to five%. The firm expects that international alternate charges will weigh on each its earnings and income for the total yr.

Looking to the primary quarter, Coke is anticipating a 4% headwind from foreign money alternate charges on its comparable income. The firm additionally expects international alternate to gradual its earnings per share progress, and anticipates an 8% hit from foreign money modifications throughout the interval.

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