Sweet Forecast for Coca-Cola
Speaking at the Kingsman Dubai sugar conference, held Feb 4-7, Jacob Robbins, managing director of The Coca-Cola Company’s (NYSE:KO) global sweeteners unit, forecast a doubling of the company’s revenues to $200 billion by 2020 from $100 billion in 2010.
The main reasons for the forecast were cited as growth in demand in emerging markets, creation of new consumers due to population growth and improving macro-economic outlook. “We’ve got significant room for growth,” he said, adding that some 800 million new consumers could enter the global market over the next decade.
Coca-Cola Earnings Data
Net income for the soft drink company fell to $1.65 billion (72 cents per share) vs. $5.77 billion ($2.46 per share) a year earlier. This is a decline of 71.3% from the year earlier quarter. Revenue rose 5.2% to $11.04 billion from the year earlier quarter.
The Coca-Cola Company reported adjusted net income of 79 cents per share. By that measure, the company beat the mean estimate of 77 cents per share. Analysts were expecting revenue of $10.99 billion.
Here’s how Coca-Cola’s stock is trading now:
The Coca-Cola Company (NYSE:KO): KO shares recently traded at $68.77, up $0.74, or 1.09%. They have traded in a 52-week range of $61.29 to $71.77. Volume today was 9,878,138 shares versus a 3-month average volume of 7,554,810 shares. The company’s trailing P/E is 12.62, while trailing earnings are $5.44 per share.
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