Coca-Cola Guides FY24 Comparable EPS In Line With Estimates - Update

(RTTNews) - While reporting financial results for the fourth quarter on Tuesday, beverages giant Coca-Cola Co. (KO) initiated its adjusted earnings and annual organic revenue growth guidance for the full-year 2024. The company also provided outlook for the first quarter.

For fiscal 2024, the company now projects comparable currency neutral earnings to grow in a range of 8 to 10 percent and comparable earnings in a range of 4 to 5 percent from the $2.69 per share reported in 2023, implying earnings in a range of $2.80 to $2.82 per share.

It also now projects organic revenue growth of 6 to 7 percent, with a 2 to 3 percent currency headwind and 4 to 5 percent headwind from acquisitions, divestitures and structural changes.

The Street is looking for earnings of $2.81 per share on revenue growth of 3.5 percent to $47.08 billion for the year.

For the first quarter, Coca-Cola projects comparable net revenues to include an approximate 4 percent currency headwind and approximate 2 percent headwind from acquisitions, divestitures and structural changes. Comparable earnings are expected to include an approximate 8 percent currency headwind and approximate 1 percent headwind from acquisitions, divestitures and structural changes.

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