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: 13,380,657
  • Market Cap: $281.36m
  • RiskGrade: 95

First-quarter earnings fizz at Coca-Cola

By Abigail Townsend

Date: Tuesday 30 Apr 2024

LONDON (ShareCast) - (Sharecast News) - The Coca-Cola Company lifted its annual sales forecast on Tuesday, after first-quarter numbers at the US giant topped expectations.
The fizzy drink firm said net revenues rose 3% to $11.3bn in the three months to March end, more than the $11.1bn Wall Street had forecast, boosted by higher prices. While unit case volumes rose just 1%, the overall average selling price rose 13%.

Underlying organic sales, which strip out the impact of acquisitions, divestments and currency fluctuations, sparked 11%.

Comparable earnings per share came in 72 cents, a 3% improvement and ahead of expectations. Net income attributable to the company was $3.2bn, up from $3.1bn a year previously.

As a result, Coca-Cola now expects 2024 organic sales to grow by between 8% and 9%, up from an earlier forecast for 6% to 7% growth.

The annual comparable EPS forecast was maintained at 4% to 5% growth.

James Quincy, chief executive, said: "We're encouraged by our start to 2024, delivering another quarter of volume, topline and earnings growth amid a dynamic backdrop.

"We believe our global system is primed for sustained success, thanks to the right strategies, clear alignment, a powerful portfolio and strong execution."

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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 13,380,657
Shares Issued 4.31m
Market Cap $281.36m
RiskGrade 95

What The Brokers Say

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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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