Coca-Cola CEO James Quincey said an E. coli outbreak linked to its biggest restaurant customer, McDonald's, isn't likely to hurt the beverage company's sales at this stage.
Coca-Cola (KO) came out with quarterly earnings of $0.77 per share, beating the Zacks Consensus Estimate of $0.74 per share. This compares to earnings of $0.74 per share a year ago.
Coca-Cola reported a decline in revenues in its third-quarter earnings on Wednesday. Despite the slide, revenue was higher than analysts' expectations.
On Wednesday, Coca-Cola Company KO reported a third-quarter 2024 sales decline of 1% year-on-year to $11.9 billion, beating the analyst consensus estimate of $11.59 billion.
Coca-Cola's stock turns lower as earnings beat expectations because another big increase in price helped offset a surprise decline unit case volume.
CNBC's Joe Kernen reports on the company's quarterly earnings results.
Coca-Cola said on Wednesday it expects annual organic sales at high-end of its previous range after posting a surprise quarterly rise on growing demand for its sodas and juices in the U.S., India and South Korea.
In recent quarters, strong international sales have boosted Coke's results, offsetting weaker demand in the U.S. The company hiked its full-year outlook last quarter.
Analysts expect the soft-drink maker to report third-quarter adjusted earnings of 75 cents, a penny higher than a year ago.
Coke is on track for its best annual performance in a decade.
Coca-Cola (NYSE: KO) will report its Q3 2024 results on Wednesday, October 23. We expect the company's revenues to come in at $11.65 billion, marginally above the consensus estimate of $11.6 billion.
Coca-Cola has been an exceptionally reliable dividend stock over the years.