The Coca-Cola Company (NYSE:KO) delivered a profit and met Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 2.95%.
The Coca-Cola Company Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 3.28% to $0.63 in the quarter versus EPS of $0.61 in the year-earlier quarter.
Revenue: Decreased 2.57% to $12.75 billion from the year-earlier quarter.
Actual vs. Wall St. Expectations: The Coca-Cola Company reported adjusted EPS income of $0.63 per share. By that measure, the company met the mean analyst estimate of $0.63. It missed the average revenue estimate of $12.96 billion.
Quoting Management: Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company said, “Our second quarter volume results came in below our expectations, reflecting an ongoing challenging global macroeconomic environment and unusually poor weather conditions in the quarter. While we are not happy with our performance, we did gain global volume and value share in total nonalcoholic ready-to-drink beverages as well as in sparkling and still beverages in the quarter. Despite the headwinds in the quarter, we are committed to improving upon our results, with current dynamics leading us to believe that our performance will be better in the second half of the year. We remain confident in our 2020 Vision and our system’s ability to execute with precision around the world. In this context, we remain firmly focused on investing alongside our global bottling partners to strengthen our system for the future, to deliver the brands and beverages that consumers love and to achieve our long-term performance goals.”
Key Stats (on next page)…