DE4CC0DE-5FC3-4494-BCBF-4D50B00366B5

Coca-Cola Sales, Profit Beat On Strong Demand For Water, Soft Drinks

By Dayeeta Das
Share this article
Coca-Cola Sales, Profit Beat On Strong Demand For Water, Soft Drinks

Coca-Cola Co beat estimates for quarterly sales and profit on Tuesday, as it sold more water and soft drinks, including its signature soda and Coke Zero, sending its shares up 4% before the bell.

After facing years of declines in soda sales, beverage makers are attracting consumers with flavoured waters, reformulated recipes, new fruity flavours and low-sugar drinks.

Volumes, a key indicator of demand, grew 2% in the first quarter ended 29 March, driven by strength in its Asian and European markets.

Organic Sales

Organic sales, which exclude the impact of currency swings and acquisitions, rose 6%. Price hikes and stockpiling by its bottlers due to Brexit uncertainty also helped sales.

Revenue rose 5% to $8.02 billion, and the company earned 48 cents per share on an adjusted basis.

ADVERTISEMENT

Analysts had forecast earnings of 46 cents per share on revenue of $7.88 billion, according to Refinitiv IBES.

Net income attributable to the company rose to $1.68 billion, or 39 cents per share, in the first quarter ended March 29 from $1.37 billion, or 32 cents per share, a year earlier.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

Get the week's top grocery retail news

The most important stories from European grocery retail direct to your inbox every Thursday

Processing your request...

Thanks! please check your email to confirm your subscription.

By signing up you are agreeing to our terms & conditions and privacy policy. You can unsubscribe at any time.