The Coca-Cola Company (NYSE: KO) on Thursday posted a 16% increase in the revenues in Q4 to $9.1 billion, driven by concentrate sales growth of 2% and price/mix growth of 5%. This was above analysts’ projection of $8.89 billion.
While revenues from EMEA declined slightly, this was offset by growth in the Americas and the Asia Pacific.
Meanwhile, Q4 profit of $0.44 per share was a cent higher than the Wall Street view.
Sparkling soft drinks grew 3% in the quarter, driven by strong growth in China, Brazil and Southeast Asia.
For full-year 2020, the beverage giant expects to deliver a comparable adjusted EPS of about $2.25 versus $2.11 in 2019, up 7% YoY.
Following the announcement of better-than-expected results, investors sent the stock up 1.5% during pre-market trading hours on Thursday. In the trailing 12 months, the stock has gained 19%.
“We continue to transform the organization to act with a growth mindset, which gives us confidence in our 2020 targets and our ability to create a better-shared future for all of our stakeholders,” CEO James Quincey said in a statement.
Rival PepsiCo (NYSE: PEP) is scheduled to report financial results on February 13.
Micron Technology Inc. (NASDAQ: MU) Thursday said its fourth-quarter profit declined from last year, hurt by a sharp fall in revenues. Earnings, however, beat the market’s projection. On an adjusted
Shares of Philip Morris International Inc. (NYSE: PM) were down 1% on Thursday. The stock has dropped over 9% year-to-date. Although the tobacco industry has felt the pinch of inflation,
CarMax, Inc. (NYSE:KMX) reported second quarter 2023 earnings results today. Net revenues rose 2% year-over-year to $8.1 billion. Net earnings were $125.9 million, or $0.79 per share, compared to $285.2 million,