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: 13,380,233
  • Market Cap: $281.36m
  • RiskGrade: 95

Coca-Cola Q3 earnings and sales top estimates

By Iain Gilbert

Date: Wednesday 27 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Consumer products giant Coca-Cola posted third-quarter earnings and sales on Wednesday that topped estimates, leading the firm to hike its full-year outlook yet again.
Coca-Cola reported a net income for the three months ended 1 October of $2.5bn, or $0.57 per share, up from the $1.7bn/$0.40 per share posted at the same time a year earlier.

Excluding one-time items, Coca-Cola pulled in about $0.65 per share, topping estimates of $0.58.

Net sales at Coke rose 16% to $10.04bn, also beating expectations for $9.75bn, while organic revenue climbed 14% and unit case volume improved 6% to come in ahead of 2019 levels.

Coca-Cola's carbonated soft drinks unit saw volume increase 6% in the quarter, while its nutrition, juice, dairy and plant-based beverage business reported volume growth of 12%, and the group's hydration, sports, coffee and tea segment reported volume growth of 6%. Coffee grew 19% on the back of the reopening of Costa locations across the United Kingdom.

Coke highlighted strength in markets where Covid-related uncertainty has started to ease, with volume growth up 8% in its Europe, Middle East and Africa region, while unit case volume in Latin America rose 8%, 4% in North America and the Asia Pacific region saw a 3% increase.

As a result of the solid quarter, Coca-Cola now anticipates full-year organic revenue growth of 13-14%, up from previous estimates of 12-14%, while adjusted earnings per share were now seen increasing 15-17%, up from 13-15%.

As of 1255 BST, Coca-Cola shares were up 2.83% in pre-market trading at $56.01 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 13,380,233
Shares Issued 4.31m
Market Cap $281.36m
RiskGrade 95

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Trades for 31-Oct-2024

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15:59 100 @ $65.32

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