Coca-Cola Raises Full-Year Forecast Following Third-Quarter Earnings Beat
Coca-Cola (KO) reported third-quarter financial results that exceeded Wall Street expectations, posting adjusted earnings per share of 91 cents against the expected 88 cents. Revenue reached $13.4 billion, surpassing analyst estimates of $12.92 billion. Driven by strong international performance and a 5% increase in unit case volume, the company raised its full-year comparable earnings per share growth forecast to at least 11%, up from the previous 9%-10% range. Despite the positive outlook, the company noted stagnant demand in North America, where consumers remain pressured by inflation and economic uncertainty. However, global growth in sparkling soft drinks and water brands like Smartwater helped offset flat volumes in the domestic market and certain categories such as juice and sports drinks. The company's ability to raise guidance for the third consecutive quarter reflects resilient international demand.
Tickers: $KO
Topics: consumer demand earnings beat guidance hike revenue growth
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