Coca-Cola will report its third-quarter earnings before the market opens on Wednesday.
Coca-Cola (KO) is set to report its third-quarter earnings before the market opens on Wednesday, with analysts anticipating a mixed performance compared to last year. The beverage giant is expected to report revenue of $11.65 billion, down 2.5% year-over-year, while earnings per share (EPS) are projected to rise slightly to 74 cents, compared to 71 cents in the same quarter last year.
| Analyst Estimates for Q3 2024 | Q2 2024 | Q3 2023 |
|---|---|---|
| Revenue | $11.65B | $12.36B |
| Diluted EPS | 74 cents | 56 cents |
| Net Income | $3.2B | $2.41B |
A key area of focus for investors will be shifts in product mix across Coca-Cola’s global segments. In the previous quarter, the company reported a 2% increase in unit case volume, with Coca-Cola Zero Sugar seeing a 6% rise and sparkling soft drinks improving by 3%. However, water sales dropped by 1%, and coffee products slid by 4%.
This earnings report comes shortly after PepsiCo lowered its full-year organic sales outlook, citing inflationary pressures affecting spending in international markets like China, Mexico, and the Middle East. UBS analysts warned that Coca-Cola might face similar challenges, but projected 6.7% organic growth for the company, with 4% growth in North America and 8.3% internationally.
On Friday, Coca-Cola shares rose 0.8% to over $70, adding to the stock’s 20% gain this year.
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