Coca-Cola (KO) boosts FY outlook on resilient demand

Coca-Cola (NYSE: KO) reported stronger-than-expected Q3 results on Tuesday, sending its shares 2.6% higher.

Adjusted EPS of $0.74 was better than the analyst estimate of $0.70. Revenue for the quarter came in at $12 billion versus the consensus estimate of $11.44 billion.

“We delivered an overall solid quarter and are raising our full-year topline and bottom-line guidance in light of our year-to-date performance,” said James Quincey, Chairman and CEO of The Coca-Cola Company.

“Our leading portfolio of brands, coupled with an aligned and motivated system, positions us to win in the marketplace today while also laying the groundwork for the long term.”

Price/mix increased by 9%, while analysts were looking for an increase of 6.2%. Unit case volume increased by 2%.

The company now expects its adjusted organic revenue to grow 10-11%, beating the consensus for growth of 9.9%.

KO also expects to deliver comparable currency-neutral adjusted EPS growth of 13-14% and comparable adjusted EPS growth of 7-8%.

By Senad Karaahmetovic

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