Business

Coca-Cola is about to declare its profits. Here’s what to expect

A worker restocks a display of Coca-Cola Co. soft drinks at a store in Orem, Utah, the United States, on Tuesday, February 9, 2021.

George Frey | Bloomberg | Getty Images

Coca Cola is expected to release its tax results for the third quarter before the market opens on Wednesday.

Here’s what Wall Street analysts polled by Refinitiv are expecting:

  • Earnings per share: 58 cents
  • Revenue: $ 9.75 billion

Like most food and beverage companies, Coke experiences higher transportation and commodity costs. In the last quarter, however, CFO John Murphy said the company was feeling good over the rest of the year. Coke said it plans to raise prices and use productivity levers to manage volatility in the second half of 2021.

For the full year, Coke called for organic revenue growth of 12% to 14%, with adjusted earnings per share growth of 13% to 15%.

RBC Capital Markets analyst Nik Modi said in a note to clients ahead of the Coke earnings report that other challenges to consider are product availability and labor constraints. . Modi said his team’s recent channel checks suggest bottlers are having a harder time getting products to market due to driver shortages, mostly in pockets in the United States and Europe.

Coke shares have fallen about 1% year-to-date. The company has a market value of $ 235 billion.

– CNBC Amelia Lucas contributed to this report.


Source link

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button