By Colin Kellaher
Coca-Cola Co. on Friday warned that the coronavirus epidemic in China will clip its first-quarter sales and earnings, but the beverage giant is standing by its full-year 2020 forecasts.
The Atlanta company said it currently expects the Covid-19 epidemic will reduce its quarterly per-share earnings by one cent to two cents. It also expects a roughly two- to three-point impact on unit case volume and a one- to two-point impact on organic revenue.
China is the company's third-largest market in terms of unit case volume.
Coca-Cola, which last month said it expects organic revenue growth of about 5% and adjusted earnings of $2.25 a share this year, said it still expects to achieve its full-year guidance.
The company noted that the Covid-19 situation continues to evolve, and said it will provide more information during its first-quarter earnings call in April.
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