Beverage giant, the Coca-Cola Company (KO) reported fiscal third-quarter earnings that exceeded analysts’ estimates allowing it to hike its annual outlook again.
Some key highlights from the earnings:
- Adjusted EPS of 65 cents was reported exceeding 58 cents expected.
- Revenue stood at $10.04 billion versus $9.75 billion expected.
- Net income for the quarter ended October 1 increased to $2.5 billion, or 57 cents per share, compared to $1.7 billion, or 40 cents a share, a year earlier.
- Net sales jumped 16% to $10.04 billion from $8.65 billion a year earlier above expectations of $9.75 billion.
- Organic revenue climbed 14%, excluding the impact of acquisitions, divestitures, and foreign currency.
- Coke’s sparkling soft drinks unit, which includes its namesake soda, witnessed a volume increase of 6% in the quarter.
- The nutrition, juice, dairy, and plant-based beverage business reported growth of 12%.
- The hydration, sports, coffee, and tea segments reported volume growth of 6%.
- The beverage giant now expects full-year organic revenue growth of 13% to 14%, an increase from its previous range of 12% to 14%, and adjusted earnings per share to increase 15% to 17%, above its previous range of 13% to 15%.
Dow 30 Component, The Coca-Cola Company (KO), is the largest total beverage company in the world. It offers 500 plus brands in over 200 countries and is committed to reducing sugar in its drinks and providing new and diverse drinks to people everywhere. To learn more about The Coca-Cola Company (KO) and to continue to track its progress please visit the Vista Partners Coca-Cola Company Coverage Page.