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Coca-Cola Company today announced strong second-quarter financial results, exceeding market expectations and prompting an upward revision of its full-year outlook. The beverage giant’s performance was driven by robust global demand for its products.
Key Financial Highlights
- Adjusted earnings per share (EPS): 84 cents, surpassing analysts’ consensus estimate of 81 cents.
- Revenue: $12.36 billion, outpacing the projected $11.76 billion.
- Organic revenue growth: Impressed with a 15% increase, reflecting strong pricing and volume performance.
- Unit case volume: Grew by 2% globally, demonstrating increased consumer preference for Coca-Cola products.
Upgraded Full-Year Outlook
Confident in its performance, Coca-Cola has raised its full-year guidance. The company now anticipates organic revenue growth to be within the range of 9% to 10%, an upward revision from the previous estimate of 8% to 9%. Additionally, comparable earnings growth is expected to fall between 5% and 6%, compared to the earlier projection of 4% to 5%.
Global Demand Drivers
The company’s international markets were instrumental in driving overall growth. However, the North American market experienced a slight decline in unit case volume, primarily attributed to challenges in water, sports, coffee, tea, and trademark Coca-Cola categories.
Despite facing foreign currency headwinds, Coca-Cola’s sparkling soft drinks division showcased impressive growth, fueled by strong performance in Asia Pacific and Latin America. The juice, dairy, and plant-based beverages segment also contributed positively to the overall results.
