Coca-Cola beverages are offered for sale in Chicago on April 30, 2024.
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Coca-Cola reported its second-quarter earnings before the bell on Tuesday.
Here’s what the company reported compared with what Wall Street analysts surveyed by LSEG were expecting:
- Adjusted earnings per share: 84 cents, may not compare with 81 cents expected
- Revenue: $12.36 billion, may not compare with $11.76 billion expected
Earlier this month, rival PepsiCo narrowed its revenue outlook for the full year, citing the weakening U.S. consumer as demand for its snacks fell. But Wall Street is more confident in Coke, which has outperformed its peers in the consumer packaged goods sector.
While the beverage giant has struggled with the same economic conditions affecting its competition, analysts think its strong international business and pricing power will help it through any rough patches.
For the full year, Coke expects organic revenue growth of 8% to 9% and comparable earnings growth of 4% to 5%.
Shares of Coke have risen about 10% this year, while the S&P 500 has climbed 16%. Coke has a market cap of about $279 billion.
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