Coca-Cola Beats Estimates and Raises Guidance on Higher Volume and Prices

Shares of Coca-Cola (KO) precocious Tuesday arsenic nan world’s biggest soft-drink shaper posted better-than-expected results and raised its outlook connected higher request and prices.

The institution reported second-quarter adjusted earnings per stock (EPS) of $0.84, pinch gross expanding 3% year-over-year to $12.36 billion. Both exceeded statement estimates of analysts compiled by Visible Alpha.

Overall lawsuit portion measurement roseate 2%. The institution sewage a large boost from nan Latin America region, wherever income jumped 20% and measurement was up 5%. The institution credited that to maturation successful Mexico and Brazil, and soaring ostentation successful Argentina.

Sales climbed 10% successful North America, driven by favorable operation and pricing actions. However, measurement fell 1% because of declines successful water, sports, coffee, and tea, arsenic good arsenic Trademark Coca-Cola and sparkling flavors. Sales successful nan Europe, Middle East & Africa region added 7%, but measurement was unchanged. Asia Pacific income fell 4%, though measurement was 3% higher.

CEO Says Company Performed Well successful 'Ever-Changing Landscape'

Chief Executive Officer (CEO) James Quincey said nan institution performed good successful “an ever-changing landscape,” and that it continues to execute “our highly effective all-weather strategy” aimed astatine responding efficaciously to different upwind conditions.

Coca-Cola now expects full-year comparable EPS to climb 5% to 6% compared pinch its earlier forecast of 4% to 5%. It sees organic revenue maturation of 9% to 10%, up from nan earlier outlook of 8% to 9%.

Coca-Cola shares were up trading astir 1% higher astatine 11 a.m. ET Tuesday astatine $65.20, their highest level successful 2 years.