Shares of Coca-Cola Co. KO, -0.80% climbed 1.1% toward a two-year high in premarket trading Tuesday, after the beverage giant beat second-quarter earnings expectations and raised its full-year outlook, amid increases in prices and unit case volumes. Net income fell to $2.41 billion, or 56 cents a share, from $2.55 billion, or 59 cents a share, in the same period a year ago.
For the full year, Coke expects organic revenue growth of 8% to 9% and comparable earnings growth of 4% to 5%. Shares of Coke have risen about 10% this year, while the S&P 500 has climbed 16%.
If consumers start drinking less soda, Coca-Cola's revenue could grow more slowly or decline in the coming quarters.
Coca-Cola (NYSE: KO) will report its Q2 2024 results on Tuesday, July 23. We expect the company's revenues to come in at $11.8 billion, marginally above the consensus estimate of $11.75 billion.
Coca-Cola Co KO is reporting its second-quarter earnings on Tuesday. Wall Street expects 80 cents in EPS and $11.8 billion in revenues as the company reports before market hours.
A robust brand portfolio, strategic investments and growth across segments are likely to have aided Coca-Cola's (KO) Q2 sales and volumes. Inflationary pressures and currency woes may dampen results.
Coca-Cola's growth rate has been falling and was just 3% last quarter. Price hikes appear to be taking a toll on consumers, which could lead to more softness ahead.
With a growing convenience-store business, the company's shares are looking attractive.
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In the most recent trading session, Coca-Cola (KO) closed at $63.10, indicating a +0.43% shift from the previous trading day.
Coca-Cola (KO) has been one of the stocks most watched by Zacks.com users lately. So, it is worth exploring what lies ahead for the stock.