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MarketScreener Homepage  >  Equities  >  Nyse  >  The Coca-Cola Company    KO

THE COCA-COLA COMPANY

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Coca-Cola Posts Higher Quarterly Sales -- Update

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01/30/2020 | 08:28am EDT

By Dave Sebastian

Coca-Cola Co. reported higher sales in the latest quarter as demand for its namesake drinks grew, beating analysts' estimates.

Fourth-quarter sales rose 16% to $9.07 billion from a year earlier, ahead of the $8.88 billion analysts polled by FactSet had expected.

The beverage giant on Thursday said organic revenue, which excludes currency swings, acquisitions and divestitures, grew 7%. Global unit case volume increased 3% for the quarter, led by growth in emerging markets.

Sales of its sparkling soft drinks, which include its namesake soda drink, Diet Coke, Fanta and Sprite, grew 3% for the quarter, led by growth in China, Brazil and Southeast Asia.

Sales of water, enhanced water and sports drinks were up 2%, and tea and coffee volume grew 4%.

Coke has pushed to roll out new flavors and diversify its offerings in recent years. The company late last year launched a new flavored seltzer brand, Aha, with caffeinated options. It was a late entrant to the category that includes market-leading bubbly water LaCroix, which has lost market share as new drinks crowd store shelves. PepsiCo Inc. in 2018 launched a competitor called Bubly.

Unit case volume, or the number of 24 8-ounce servings of finished beverage sold, in North America was flat for the quarter, though the metric for its water, enhanced water and sports drinks grew 3%. The Coca-Cola Zero Sugar beverage grew by a double-digit percentage, the company said.

In Europe, the Middle East and Africa, unit case volume grew 4%, driven by growth in Nigeria, North Africa, Turkey and central and Eastern Europe. But quarterly operating income in the region fell 14%, or 5% on an adjusted basis, due to reduced bottler-inventory levels related to Brexit, Coke said.

In Asia Pacific, unit case volume grew 2%, though sales in China softened as growth in sparkling-soft-drink sales was offset by the downsizing of certain water and juice products.

The Atlanta-based company recorded earnings of $2.04 billion, or 47 cents a share, compared with $870 million, or 20 cents a share, in the same period a year before.

Adjusted earnings were 44 cents a share, meeting analysts' expectations.

For 2020, the company expects organic sales to grow about 5%. It sees adjusted earnings of about $2.25 a share for the year.

Shares rose 1.4% in premarket trading.

Write to Dave Sebastian at dave.sebastian@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
DOW JONES AFRICA TITANS 50 INDEX -2.25% 348.58 Delayed Quote.-34.97%
EURO / BRAZILIAN REAL (EUR/BRL) -0.13% 5.7267 Delayed Quote.26.05%
EURO / BRITISH POUND (EUR/GBP) 0.07% 0.89215 Delayed Quote.5.77%
LACROIX -4.89% 17.5 Real-time Quote.-36.36%
PEPSICO, INC. 4.17% 125.48 Delayed Quote.-8.19%
S&P AFRICA 40 INDEX -0.02% 101.67 Delayed Quote.-39.80%
THE COCA-COLA COMPANY 5.12% 45 Delayed Quote.-18.70%
US DOLLAR / TURKISH LIRA (USD/TRY) 0.36% 6.58517 Delayed Quote.8.67%
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Financials (USD)
Sales 2020 37 182 M
EBIT 2020 10 544 M
Net income 2020 9 100 M
Debt 2020 32 088 M
Yield 2020 3,67%
P/E ratio 2020 22,1x
P/E ratio 2021 20,4x
EV / Sales2020 6,06x
EV / Sales2021 5,76x
Capitalization 193 B
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Mean consensus BUY
Number of Analysts 23
Average target price 59,68  $
Last Close Price 45,00  $
Spread / Highest target 211%
Spread / Average Target 32,6%
Spread / Lowest Target -2,22%
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Managers
NameTitle
James Quincey Chairman & Chief Executive Officer
Brian John S. Smith President & Chief Operating Officer
John Murphy Chief Financial Officer & Executive Vice President
Nancy W. Quan Chief Technology Officer & Senior Vice President
Wamwari Waichungo Vice President-Scientific & Regulatory Affairs
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