Coca-Cola (KO) Results Q1 2022

A person wearing a mask pushes a trolley past a Coca-Cola truck as the city resumes Phase 4 of reopening after restrictions were imposed to contain the spread of the coronavirus in New York City on September 16, 2020 slow it down.

Alexi Rosenfeld Getty Images

Coca-Cola will announce its first-quarter results before the market closes.

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% for 2022. The company also forecast that higher raw material costs would hurt earnings in the mid-single digits.

Since the publication of this forecast, Coke, along with a number of other Western companies, has suspended business in Russia after the Kremlin invaded Ukraine. However, in a regulatory filing, Coke said its business in Ukraine and Russia contributed about 1% to 2% to consolidated net operating sales and operating income in 2021, so the withdrawal from Russia is unlikely to have an undue impact on sales.

However, the war has pushed up the cost of grain, gas and other commodities and fueled inflation already faced by consumer companies like Coke. Investors will be watching to see if shoppers continue to buy Coke’s drinks as prices rise.

The company’s general cargo volume rose 9% last quarter as consumers drank more cola products outside their homes, a strong signal of the company’s recovery from the pandemic.

Coke’s shares are up 19% over the past 12 months, giving the company a market value of $283 billion.

This is breaking news. Please check again for updates.

https://www.cnbc.com/2022/04/25/coca-cola-ko-q1-2022-earnings.html Coca-Cola (KO) Results Q1 2022

Gary B. Graves

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