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(Sharecast News) - American beverages giant Coca-Cola beat analysts' forecasts and raised its full-year profit guidance on Tuesday on the back of strong concentrate sales and price-mix effects in the first quarter.
The Atlanta-based group reported net revenues were up 12% at $12.47bn, with organic revenues up 10% year-on-year, helped by an 8% increase in concentrate sales and 2% growth in price/mix, along with a 3% increase in unit case volumes. The consensus estimate was $12.24bn.
Three out of the company's four operating regions reported double-digit growth - Latin America (+14%), EMEA (+13%) and North America (+12%) - while Asia Pacific growing by a lesser 6%, held back by price/mix declines.
Meanwhile, a big increase in operating margins to 35.0%, from 32.9% a year earlier, helped operating income jump to $4.36bn from $3.66bn. Adjusted earnings per share of 86cents, up from 73cents previously, came in comfortably ahead of the 81cents expected by the market.
As a result of the first-quarter performance, Coca-Cola now expects to grow comparable EPS by 8-9% from $3.00 in 2025, up from earlier growth guidance of 7-8%.
"We've had a strong start to the year," said chief executive Henrique Braun.
"Our performance this quarter reflects our unwavering focus on staying close to the consumer, executing locally and managing complexity. Yet there's so much more we can do as we navigate a dynamic environment. Our team is motivated by the opportunity to build on the company's great foundation."
Shares were up 4.9% at $79.16 by 1501 BST.
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