Business

Coca-Cola’s first quarter 2022 results (KO)


A person wearing a mask pushes a cart cart past a Coca-Cola truck as the city continues Phase 4 of reopening following restrictions imposed to slow the spread of the coronavirus on September 16, 2020 in New York City.

Alexis Rosenfeld | Getty Images

Coca-Cola is due to release its first quarter results before the bell on Monday.

Here’s what Wall Street analysts polled by Refinitiv expect:

  • Earnings per share: 58 cents expected
  • Revenue: $9.83 billion expected

In February, Coke said it expected comparable earnings per share growth of between 5% and 6% in 2022. The company also predicted that rising raw material costs would hit mid-digit earnings. .

Since the release of those forecasts, Coke has joined a host of other Western companies in suspending operations in Russia following the Kremlin’s invasion of Ukraine. However, in a regulatory filing, Coke said its operations in Ukraine and Russia contributed about 1% to 2% of its consolidated net operating revenue and operating profit in 2021, so it is unlikely that Russia’s withdrawal would have a disproportionate impact on its turnover. .

However, the war drove up the costs of grain, gas and other commodities, adding to the inflation that consumer companies like Coke were already facing. Investors will be watching to see if buyers continue to buy Coke’s drinks as prices rise.

In the last quarter, the company’s unit case volume soared 9% as consumers drank more coke products away from home, a strong signal for the company’s pandemic recovery.

Shares of Coke have climbed 19% in the past 12 months, giving it a market value of $283 billion.

This is breaking news. Please check for updates.


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William

Friendly bacon buff. Unapologetic problem solver. Avid food lover. Amateur alcoholaholic. Organizer. Student
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