Coca-Cola Raises Annual Revenue Forecast on Sustained Soda Demand

Reuters2022-07-26

Coca-Cola Co (KO.N) raised its full-year revenue growth forecast on Tuesday, as demand for sugary sodas held up strong despite price increases to blunt the impact of higher costs for key inputs such as corn syrup and aluminum cans.

The company's shares, which have gained 5% this year, rose over 1% in premarket trading.Packaged food makers have so far felt little impact of decades-high inflation on demand, especially in the United States, as people prioritize spending on eating at home rather than at restaurants.

Rival PepsiCo Inc (PEP.O) said last week it had not seen any slowdown in demand in response to its price hikes and that there was room for prices to go further up. read more

Coca-Cola forecast organic revenue to rise 12% to 13% in 2022, compared to prior expectation of 7% to 8% increase.

Net revenue rose 12% to $11.3 billion in the second quarter ended July 1. Analysts on average had expected revenue of $10.55 billion, according to Refinitiv IBES data.

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Comments

Targarean
2022-07-27
Targarean
Walmart said demand will be affected by recessionbut Coke raises forecasts. Do folks prefer to drink coke over buying groceries?! Lol
SherryVJ
2022-07-27
SherryVJ
Ok
CSK88
2022-07-27
CSK88
Good point
N00b
2022-07-26
N00b
Ok like
Tanyl
2022-07-26
Tanyl
KO keep on up
blessed_1
2022-07-26
blessed_1
Up up

Leave a comment

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