Coca-Cola Posts 91c Adjusted EPS for Third Quarter
KO sits 37% above its 52-week low of $67.274.
Summary
Coca-Cola reported third-quarter adjusted EPS of 93 cents, the first hard number from the quarter's results, on revenue of $13.4B. Unit case volume rose 6% in both Asia Pacific and Latin America. The print lands with the stock near its 52-week high of $95.37, so expectations were already elevated. The company raised its full-year guidance, with an outlook for full-year organic revenue growth of 5%. Context matters here: the Q2 10-Q flagged a potential $14B+ IRS tax liability still in appeals, and the company is reportedly shopping Costa Coffee, so the market will want to see whether those items hit the P&L or outlook.
At the time of this announcement, KO was trading at $92.49 on NYSE in the Trade & Services sector, with a market capitalization of approximately $398.8B. The 52-week trading range was $67.27 to $95.37. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.