LONDON (ShareCast) - (Sharecast News) - Coca-Cola's share price was rising strongly on Tuesday morning after fourth-quarter sales and profits from the soft drinks giant beat market forecasts on the back of improvements in pricing and volume growth.
Revenues for the three months to 31 December were up 6% year-on-year at $11.5bn, ahead of the $10.7bn consensus estimate, with global unit case volumes up 2% as demand improved.

The sparkling soft drinks division, which includes the namesake soda, saw volumes rise 2% with growth across all geographies. Coca-Cola Zero was a notable performer, with volumes up 13% on last year.

Meanwhile, juice volumes fell 1%, while water, sports, coffee and tea volumes were 2% higher.

Organic revenue growth came in at 14%, driven by a 9% improvement in price/mix and a 5% increase in concentrate sales.

The operating margin jumped to 23.5% in the fourth quarter from 21% a year earlier, helping comparable earnings per share to rise 12% to $0.55, beating the $0.52 expected.

For 2024 as a whole, revenues were 3% higher at $47.1bn, with organic revenues up 12%, though operating income was down 12% at $9.99bn, weighed down by a big increase in operating charges.

"Our all-weather strategy is working, and we continue to demonstrate our ability to lead through dynamic external environments," said chief executive and chair James Quincey.

"Our global scale, coupled with local-market expertise and the unwavering dedication of our people and our system, uniquely position us to capture the vast opportunities ahead."

By 0909 in New York, the stock was up 4.3% at $67.33 in pre-market trade.

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