Coca-Cola: 'encouraged' with first quarter performance
(CercleFinance.com) - Coca-Cola said on Tuesday that is was "encouraged" with its first-quarter performance and that it remained confident in achieving its full-year guidance.
Although net revenues fell by 16% to 7.6 billion dollars over the quarter, the figure was impacted by the refranchising of bottling activities, the group said.
Organic revenues grew 5% over the quarter, driven by volume growth of 4% and price/mix growth of 1%.
Moreover, EPS from continuing operations rose by 13% to 0.31 dollar.
But perhaps most importantly, the company said it gained global market share, in addition to seeing improved trends across the beverage industry overall.
After these comments, Coca-Cola shares were up 1.4% in pre-market trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
Although net revenues fell by 16% to 7.6 billion dollars over the quarter, the figure was impacted by the refranchising of bottling activities, the group said.
Organic revenues grew 5% over the quarter, driven by volume growth of 4% and price/mix growth of 1%.
Moreover, EPS from continuing operations rose by 13% to 0.31 dollar.
But perhaps most importantly, the company said it gained global market share, in addition to seeing improved trends across the beverage industry overall.
After these comments, Coca-Cola shares were up 1.4% in pre-market trading.
Copyright (c) 2018 CercleFinance.com. All rights reserved.