Key facts
- Coca-Cola raised its annual revenue and profit forecasts.
- The company now expects organic revenue growth of approximately 5%, an increase from its previous 4%-5% target.
- Comparable earnings per share growth is projected to be between 9% and 10%, up from 8%-9%.
- First-quarter net revenues increased 12% to $12.5 billion, with organic revenues up 10%.
- Comparable EPS for the first quarter grew 18% to $0.86.
Coca-Cola on Tuesday raised its annual revenue and profit forecasts, anticipating continued strong demand for its zero-sugar beverages and its Fairlife milk brand in the United States. The company now projects organic revenue growth of approximately 5%, an upward revision from its previous target of 4% to 5%.
Comparable earnings per share are expected to grow between 9% and 10%, an increase from the earlier forecast of 8% to 9%. This updated guidance reflects a strong start to the year, with first-quarter net revenues growing 12% to $12.5 billion and organic revenues increasing by 10%. Comparable earnings per share saw an 18% rise to $0.86.
CEO Henrique Braun highlighted the company's focus on consumer connection and execution in a dynamic environment. Coca-Cola has been investing in brands like Fairlife milk and bottled teas, alongside zero and low-sugar options, to cater to consumer preferences for healthier alternatives. The company also offered smaller pack sizes to accommodate cost-conscious consumers amid higher living costs. Global unit case volume grew 3%, outpacing a 2% price/mix increase, and the company gained value share in the non-alcoholic ready-to-drink beverage market.
