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Coca-Cola (KO.US) results beat analysts' expectations
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The company's shares gain before the US market open
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Results driven primarily by strong demand and price increases
Shares of the global Coca-Cola Company (KO.US) are gaining nearly 1.5% ahead of the opening of today's cash session following the release of better-than-expected results for Q1 2023.
Details of today's report:
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Comparable earnings per share (EPS) of $0.68 versus guidance of $0.65
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Revenue of $10.96bn vs. forecast of $10.8bn
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Net profit of $3.11bn vs. last year's $2.78bn
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Operating margin was 30.7% vs. 32.5% reported a year ago
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Net sales +5% y/y
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Case volume +3%
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Change in concentrate sales +1% vs. forecast of -0.62%
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Adjusted organic revenue +12% vs. forecast of +9.62%
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The annual forecast is for adjusted organic revenue in the range of +7% to +8%, forecast +7.84% (the company added that it is confident of meeting annual forecasts).
Selected items from the published Q1 report. Source: Coca-Cola
Like other companies in the industry, the Coca-Cola Company has increased the prices of its products, but this has not affected consumer demand. In recent years, as pandemic-related restrictions have disappeared, the company has seen an increase in productivity. This is mainly due to consumers being willing to pay more for drinks in public places such as restaurants, stadiums and concerts.
Current premarket trading on Wall Street indicates that Coca-Cola (KO.US) shares have broken above the important resistance set by the local peaks of December 2022. Source: xStation 5
