Skip to main content
  • Register
  • Help
  • Contact us

Coca-Cola beats quarterly earnings expectations

Mon 19 April 2021 11:07 | A A A

No recommendation

No news or research item is a personal recommendation to deal. Hargreaves Lansdown may not share ShareCast's (powered by Digital Look) views.

(Sharecast News) - Soft drinks giant Coca-Cola posted quarterly earnings that came in ahead of expectations early on Monday and stated that demand had returned to levels not seen since before the outbreak of the Covid-19 pandemic in March.

Coca-Cola said adjusted earnings per share for the quarter had come to $0.55 each, ahead of estimates for a print of $0.50, while revenues rose 5% to $9.02bn versus expectations for a print of $8.6bn.

First-quarter net income was $2.25bn, or $0.52, down from $2.78bn, or $0.64 on a per share basis, a year earlier.

Organic revenues grew 6%, while unit case volume was flat year-on-year.

Coca-Cola also reiterated its full-year guidance for organic revenue growth in the high single digits and adjusted earnings growth of high single digits to low double digits as demand improved during the quarter as markets like China where coronavirus-related uncertainty has fallen.

Chief executive James Quincey said: "We are encouraged by improvements in our business, especially in markets where vaccine availability is increasing and economies are opening up, and we remain confident in our full-year guidance."

As of 1230 BST, Coca-Cola shares were up 0.61% in pre-market trading at $54.01 each.

    The value of investments can go down in value as well as up, so you could get back less than you invest. It is therefore important that you understand the risks and commitments. This website is not personal advice based on your circumstances. So you can make informed decisions for yourself we aim to provide you with the best information, best service and best prices. If you are unsure about the suitability of an investment please contact us for advice.


    More company news from ShareCast