Shares of Coca-Cola Co. (KO) saw a 0.4% increase in premarket trading following the company's announcement of its fourth-quarter profit. The beverage giant reported that its revenue experienced a boost from both price and volume increases.

Financial Highlights

  • Net income slipped to $1.97 billion, or 46 cents a share, compared to $2.03 billion, or 47 cents a share, in the same period last year.
  • Adjusted earnings per share of 49 cents matched the FactSet consensus after excluding nonrecurring items.
  • Revenue grew by 7.2% to reach $10.85 billion, surpassing the FactSet consensus of $10.68 billion.
  • Price and mix increased by 9%, while concentrate sales rose by 3%.

Sales Breakdown

Within concentrate sales:

  • Sparkling soft drinks experienced a growth of 2%.
  • Juice, dairy, and plant-based beverage sales increased by 6%.
  • Water, sports, coffee, and tea sales rose by 1%.

Future Outlook

For the year 2024, Coca-Cola Co. expects adjusted EPS growth of 4% to 5%, aligning with the current FactSet consensus of $2.81, which implies a growth rate of 4.5%.

Market Performance

Over the past three months, Coca-Cola Co.'s stock has gained 4.9%, while the Dow Jones Industrial Average (DJIA) has advanced by 13%.

Write Your Comment