Coca-Cola Co. (KO)

$ 65.31
   
  • Change Today:
    $-0.61
  • 52 Week High: $73.01
  • 52 Week Low: $56.44
  • Currency: US Dollars
  • Shares Issued: 4.31m
  • Volume: 13,380,183
  • Market Cap: $281.36m
  • RiskGrade: 95

Coca-Cola beats sales estimates in encouraging first quarter

By Iain Gilbert

Date: Tuesday 23 Apr 2019

LONDON (ShareCast) - (Sharecast News) - First quarter revenues at soft drinks giant Coca-Cola came in ahead of estimates from analysts on the Street as sales of its water, sports drinks and its zero sugar beverages surged.
The company grew its topline by 5% year-on-year to $8.02bn, coming in well ahead of consensus estimates for $7.88bn, as distributors increased their inventory levels in order to hedge against Brexit-related uncertainties.

Organic sales meanwhile rose by 6%.

Unit case volumes grew 2% globally, boosted by a solid performance in key markets across Asia and Europe. North American unit case volumes declined by 1%, even as net sales for the region rose by 1%.

Coca-Cola recorded net income of $1.68bn for the three months ended 29 March, or $0.39 on a per share basis, up from the $0.32 reported a year earlier.

Chief executive James Quincey said: "We're encouraged by our first quarter results as our disciplined growth strategies continue to deliver strong underlying performance."

Coca-Cola also wrapped up its $5.1bn acquisition of British coffee chain Costa during the quarter.

As of 1310 BST, Coca-Cola shares had fizzed up 3.27% in pre-market trading to trade at $48.95 each.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Coca-Cola Market Data

Currency US Dollars
Share Price $ 65.31
Change Today $ -0.61
% Change -0.93 %
52 Week High $73.01
52 Week Low $56.44
Volume 13,380,183
Shares Issued 4.31m
Market Cap $281.36m
RiskGrade 95

What The Brokers Say

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Neutral 7
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Total 24
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Trades for 31-Oct-2024

Time Volume / Share Price
16:00 3,312,682 @ $65.31
15:59 246 @ $65.32
15:59 100 @ $65.32
15:59 200 @ $65.32
15:59 100 @ $65.32

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