Coca Cola : Sees 3% Currency Headwind on 4Q, 2020 Comparable Net Revenues

By Allison Prang

Coca-Cola Co. said it expects about a 3% currency headwind for comparable net revenues for the fourth quarter and full year.

The company had said in its second-quarter results it expected a 3% to 4% currency headwind on comparable net revenues for 2020.

For 2020, the company said it expects about a 6% currency headwind for its comparable operating income. It had previously said it was expecting that headwind to be in the high single digits. For the fourth quarter, Coca-Cola expects that headwind is expected to be about 9%, the company said.

Coca-Cola also still expects a 19.5% underlying effective tax rate for 2020, it said.

For next year, Coca-Cola said it "expects minimal currency impact" on both comparable net revenues and comparable operating income.

Write to Allison Prang at [e-mail]

(END) Dow Jones Newswires

10-22-20 0842ET