Coca-Cola to Report First-Quarter Earnings: Analysts’ Expectations
Coca-Cola is scheduled to release its financial results for the first quarter of 2023 before the market opens on Tuesday, May 2, 2023. Analysts surveyed by LSEG have projected earnings per share of 70 cents and revenue of $11.01 billion for the quarter.
Analysts are generally optimistic about Coca-Cola’s performance in the first quarter, despite a recent decline in volume for PepsiCo’s North American beverage business. Coca-Cola’s diverse portfolio of products, including its namesake soda, Fairlife, and Topo Chico, is expected to drive demand.
However, analysts also note that a potential pullback in fast-food spending could negatively impact Coca-Cola’s sales. Approximately half of the company’s revenue is generated from away-from-home locations, such as sports stadiums, movie theaters, and restaurants.
Coca-Cola’s Outlook for 2024
For 2024, Coca-Cola has forecasted organic revenue growth of 6% to 7% and a 4% to 5% increase in comparable earnings per share. The company anticipates that foreign exchange rates will have a negative impact on both its earnings and revenue for the full year.
Coca-Cola’s Stock Performance
Over the past year, Coca-Cola’s stock has declined by 3.5%, bringing its market value down to $267 billion. Investors will be closely monitoring the company’s earnings report to assess its financial performance and future prospects.
