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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Coca-Cola slightly higher in premarket after Q4 earnings

14:00 14 February 2023

Coca-Cola (KO.US) reported financial results for Q4 2022 today ahead of the Wall Street session open. Report turned out to be mostly in-line with market expectations and, therefore, no major move can be spotted on Coca-Cola shares in today's US premarket trading. Share price of the company gained 0.7% less than two hours ahead of the Wall Street session open.

Better-than-expected sales and in-line earnings

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Coca-Cola reported Q4 2022 EPS at $0.45 - a result in-line with market expectations and flat compared to Q4 2021. Sales turned out to be slightly better-than-expected with adjusted operating revenue coming in at $10.2 billion (exp. $9.95 billion) and being 7% year-over-year higher. However, adjusted organic sales growth grew at a pace of 15% YoY in Q4 2022 and was much better than +10.6% YoY growth expected. A small drop in unit case volume can be somewhat worrying as it hints that the company sells less of its products. Nevertheless, a 12% increase in price/mix allowed the company to more than offset unit case drop and report higher year-over-year sales. 

Coca-Cola Q4 2022 results

  • Comparable EPS: $0.45 vs $0.45 expected
  • Adjusted operating revenue: $10.2 billion vs $9.95 billion expected
  • Unit case volume: -1%
    - Nutrition, juice, dairy and plant-based: -7%
    - Sparkling soft drinks: 0%
  • Price/mix: +12% vs +8.1% expected
  • Adjusted organic revenue growth: +15% vs +10.6% expected

2023 organic revenue seen growing 7-8%

The US beverages company also issued a new set of economic forecasts for 2023. Coca-Cola expects adjusted organic revenue to grow at a pace of 7-8%. Median market expectations pointed to a forecast of 7.15% so guidance provided by Coca-Cola can be seen as in-line with expectations. Apart from that, comparable EPS is expected to grow 4-5% in 2023, meaning that it expects a slight acceleration compared to around 2.5% growth for 2022. Capital expenditures are seen reaching around $1.9 billion. Last but not least, Coca-Cola said that it expects commodity price inflation to remain a mid-single digits headwind on comparable cost of goods sold in 2023.

Coca-Cola (KO.US) trades slightly higher in premarket. Current quotes point to a less-1% bullish price gap at the session opening and launch of the trading near resistance zone ranging above $61.00 mark. Source: xStation5

This content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.

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