Home Business Coca-Cola earnings beat, firm says demand in March returned to pre-pandemic ranges

Coca-Cola earnings beat, firm says demand in March returned to pre-pandemic ranges

A employee restocks a show of Coca-Cola Co. comfortable drinks at a retailer in Orem, Utah, U.S., on Tuesday, Feb. 9, 2021.

George Frey | Bloomberg | Getty Pictures

Coca-Cola on Monday reported quarterly demand was unchanged from the identical time final yr as North America and western Europe take longer to bounce again from the coronavirus pandemic.

Nonetheless, world unit case quantity in March returned to 2019 ranges.

“We’re inspired by enhancements in our enterprise, particularly in markets the place vaccine availability is growing and economies are opening up, and we stay assured in our full yr steering,” CEO James Quincey mentioned in an announcement.

This is what the corporate reported in contrast with what Wall Avenue was anticipating, primarily based on a survey of analysts by Refinitiv:

  • Earnings per share: 55 cents, adjusted, vs. 50 cents anticipated
  • Income: $9.02 billion vs. $8.6 billion anticipated

The beverage big reported fiscal first-quarter internet revenue of $2.25 billion, or 52 cents per share, down from $2.78 billion, or 64 cents per share, a yr earlier.

Excluding gadgets, Coke earned 55 cents per share, topping the 50 cents per share anticipated by analysts surveyed by Refinitiv.

Web gross sales rose 5% to $9.02 billion, beating expectations of $8.6 billion. Natural revenues grew 6%, whereas unit case quantity was flat from the identical time a yr in the past.

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