Coca-Cola Co. (NYSE: KO) reported fourth-quarter results before markets opened Thursday. The soft-drink maker posted (EPS) of $0.43 on revenues of $7.1 billion. Thomson Reuters consensus estimates had called for $0.43 in EPS on revenue of $7.03 billion. The same period of last year reportedly had EPS of $0.39 and $7.51 billion in revenue.
The latest results were impacted by headwinds of 13% from the combined impact of currency and the refranchising of company-owned bottling operations. Organic revenues grew 5% for the quarter, driven by concentrate sales growth of 1% and price/mix growth of 4%.
In the quarter, the company announced several changes in top leadership, including the election of a new president and chief operating officer, in addition to succession plans for the chief financial officer and the board chair.
Looking ahead to the 2019 full year, the company expects to see EPS shrinking/growing in the range of −1% to 1%, with revenues up about 4%. Consensus estimates call for $2.09 in EPS and $31.87 billion in revenue for the year.
James Quincey, CEO of Coca-Cola, commented:
I am pleased with our strong organic revenue and earnings growth in 2018. Our results demonstrate progress in our transformation as a consumer-centric, total beverage company and the power of a more strategically aligned system. Coca-Cola has established a strong foundation to capitalize on long-term growth opportunities and drive sustained shareowner value.
Shares of Coca-Cola were last seen down 7% at $46.26 on Thursday, in a 52-week range of $41.45 to $50.84. The consensus price target is $51.88.
24/7 Wall St.100 Million Americans Are Missing This Crucial Retirement Tool
The thought of burdening your family with a financial disaster is most Americans’ nightmare. However, recent studies show that over 100 million Americans still don’t have proper life insurance in the event they pass away.
Life insurance can bring peace of mind – ensuring your loved ones are safeguarded against unforeseen expenses and debts. With premiums often lower than expected and a variety of plans tailored to different life stages and health conditions, securing a policy is more accessible than ever.
A quick, no-obligation quote can provide valuable insight into what’s available and what might best suit your family’s needs. Life insurance is a simple step you can take today to help secure peace of mind for your loved ones tomorrow.
Click here to learn how to get a quote in just a few minutes.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
