Coca-Cola annual organic revenue guidance tops estimates By
2024-02-13 21:20:20

-- Coca-Cola (NYSE:) has said it expects to deliver full-year adjusted organic revenue growth of 6% to 7%, just ahead of Bloomberg consensus predictions of 5.9% but slower than the pace registered in 2023, signalling a waning benefit from a recent surge in prices.

The beverage behemoth, much like rival PepsiCo (NASDAQ:), has lifted prices in response to elevated inflationary pressures, boosting revenues but threatening to weigh on demand from cost-conscious American shoppers. However, unlike PepsiCo, which posted a 4% dip in unit sales volumes in its most recent quarter, demand at Coca-Cola has remained somewhat resilient.   

In the three months ended on Dec. 31, unit case volume in North America slid by 1%, partly reflecting weakness in demand for the company's water, coffee, tea, and sports drinks. The downturn was offset by higher volumes in Europe and Latin America. Total unit case volumes grew by 2%, unchanged from the previous quarter.

Price mix, a measure of the value of the firm's products, jumped by 9%.

Fourth-quarter comparable earnings per share increased by 10% to $0.49, meeting Wall Street estimates. Adjusted operating revenue of $10.8 billion were just above projections of $10.65B.

Shares in Coca-Cola hovered just above the flatline in premarket U.S. trading.

The content of this article does not represent the views of fxgecko website. The content is for reference only and does not constitute investment suggestions. Investment is risky, so you should be careful in your choice! If it involves content, copyright and other issues, please contact us and we will make adjustments at the first time!

Related News

您正在访问的是FxGecko网站。 FxGecko互联网及其移动端产品是中国香港特别行政区成立的Hitorank Co.,LIMITED旗下运营和管理的一款面向全球发行的企业资讯査询工具。

您的IP为 中国大陆地区,抱歉的通知您,不能为您提供查询服务,还请谅解。请遵守当地地法律。