Coca-Cola Earnings Cheat Sheet: Revenue and Profits Rise

S&P 500 (NYSE:SPY) component The Coca-Cola Company (NYSE:KO) reported higher profit for the third quarter as revenue showed growth. Coca-Cola is a leading manufacturer of nonalcoholic beverage concentrates and syrups.

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The Coca-Cola Company Earnings Cheat Sheet for the Third Quarter

Results: Net income for the soft drink company rose to $2.22 billion (95 cents per share) vs. $2.06 billion (88 cents per share) in the same quarter a year earlier. This marks a rise of 8.1% from the year earlier quarter.

Revenue: Rose 45.4% to $12.25 billion from the year earlier quarter.

Actual vs. Wall St. Expectations: KO fell short of the mean analyst estimate of $1.02 per share. Analysts were expecting revenue of $12.02 billion.

Quoting Management: Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company, said, “We are pleased with our third quarter results. For a sixth consecutive quarter, we delivered performance results in line with or ahead of our long-term growth targets. Importantly, we accomplished these results during a time of ongoing global market volatility, which is a testament to our clear and focused system vision, strong brands and solid execution. As we said when we launched our 2020 Vision, we are a growing business that is continually adapting to ever-changing economic circumstances and consumer preferences, underscoring the strength and resilience of our business.”

Key Stats:

The company has now seen net income rise in three straight quarters. In the second quarter, net income rose 18.1% and in the first quarter, the figure rose 17.7%.

Revenue has risen the past four quarters. Revenue increased 46.8% to $12.74 billion in the second quarter. The figure rose 39.8% in the first quarter from the year earlier and climbed 39.7% in the fourth quarter of the last fiscal year from the year-ago quarter.

The company fell short of estimates last quarter after beating the mark the quarter before with net income of $1.17 versus a mean estimate of net income of $1.16 per share.

Looking Forward: Over the past sixty days, the outlook for the company’s performance next quarter has become increasingly unfavorable. The average estimate for the fourth quarter is 79 cents per share, a drop from 82 cents. For the fiscal year, the average estimate has moved down from $3.87 a share to $3.83 over the last thirty days.

Competitors to Watch: PepsiCo, Inc. (NYSE:PEP), Dr Pepper Snapple Group Inc. (NYSE:DPS), Hansen Natural Corporation (NASDAQ:HANS), Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF), Coca-Cola Enterprises Inc. (NYSE:CCE), Heckmann Corporation (NYSE:HEK), National Beverage Corp. (NASDAQ:FIZZ), Jones Soda Co. (NYSE:USA) (NASDAQ:JSDA), Celsius Holdings, Inc. (NASDAQ:CELH), and Cott Corporation (NYSE:COT).

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(Source: Xignite Financials)