Coca-Cola: posts solid start to 2019, strikes confident tone
(CercleFinance.com) - Coca-Cola said on Tuesday that it was "encouraged" by its first quarter results and that it remains "confident" in its full-year guidance.
The Atlanta-based beverage giant said that net income from continuing operations rose to 1.65 billion dollars, or 39 cents per share, from 1.33 billion dollars, or 32 cents per share, a year earlier.
Net operating revenue rose 5% to above 8 billion dollars, with unit-case volume - a key measure of its business - up 2%, driven by sales in the Asia-Pacific region.
The company said it benefited from positive performance across all its operating groups, in addition to a timing-related benefit, which is primarily due to bottler inventory build relating to Brexit.
Coca-Cola also maintained its full-year outlook, expecting EPS to be fairly flat (from -1% to 1%) in 2019.
The shares were up 3.5% in pre-market trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Atlanta-based beverage giant said that net income from continuing operations rose to 1.65 billion dollars, or 39 cents per share, from 1.33 billion dollars, or 32 cents per share, a year earlier.
Net operating revenue rose 5% to above 8 billion dollars, with unit-case volume - a key measure of its business - up 2%, driven by sales in the Asia-Pacific region.
The company said it benefited from positive performance across all its operating groups, in addition to a timing-related benefit, which is primarily due to bottler inventory build relating to Brexit.
Coca-Cola also maintained its full-year outlook, expecting EPS to be fairly flat (from -1% to 1%) in 2019.
The shares were up 3.5% in pre-market trading.
Copyright (c) 2019 CercleFinance.com. All rights reserved.