Second-quarter net revenue came in at $13.4bn, reflecting organic growth of 6.0% (consensus: 3.5%). The top line beat was driven by better-than-expected volume growth, with positive contributions from all regions, which more than offset weaker-than-expected price growth.
Underlying operating profit also grew 6.0%,ignoring exchange rate impacts, to $4.8bn, ignoring exchange rate impacts.
Free cash flow over the first half was $6.9bn. Net debt fell by $1.6bn to $30.0bn since the beginning of the year.
Full year guidance has been raised, with net revenue expected to grow by around 5% on an organic basis (previously: 4-5%). Underlying earnings per share is now expected to rise by 7-8% (previously: 6-7%).
The shares rose 4.3% in pre-market trading.
Our view
HL view to follow.
Coca-Cola key facts
All ratios are sourced from LSEG Datastream, based on previous day’s closing values. Please remember yields are variable and not a reliable indicator of future income. Keep in mind key figures shouldn’t be looked at on their own – it’s important to understand the big picture.
This article is original Hargreaves Lansdown content, published by Hargreaves Lansdown. It was correct as at the date of publication, and our views may have changed since then. Unless otherwise stated estimates, including prospective yields, are a consensus of analyst forecasts provided by LSEG. These estimates are not a reliable indicator of future performance. Yields are variable and not guaranteed. Investments rise and fall in value so investors could make a loss.
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