Coca-Cola Reports Strong Q2 Earnings and Raises Full-Year Guidance
The Coca-Cola Company (NYSE:KO) reported second-quarter earnings that exceeded expectations, with adjusted EPS of $0.97 per share compared to the estimated $0.93. Revenue rose 7% year-over-year to $13.38 billion, surpassing forecasts of $13.13 billion. Organic revenue growth was driven by increased concentrate sales and price/mix improvements. Coca-Cola also raised its full-year guidance for organic revenue growth from a range of 4-5% to approximately 5%. The company revised upward its EPS outlook excluding acquisitions, now expecting 7%-8% growth compared to the prior forecast of 6%-7%. Including currency and acquisition impacts, it expects comparable EPS growth of 9%-10%, up from previous guidance. The beverage giant also increased its free cash flow projection to $12.4 billion for the year due to higher-than-expected operating cash flows.
Tickers: $KO
Topics: Earnings Guidance Update Revenue Growth