Categories Consumer, Earnings

Better-than-expected Q4 results lift Coca-Cola stock

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.

Coca-Cola company Q4 2019 earnings IG

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.

READ: Starbucks beats Q1 EPS estimate by 4 cents; some Chinese outlets closed due to epidemic outbreak

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.

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