Coca-Cola reported fourth quarter earnings that meet expectations, but this was not enough to appease investors' worries about the weaker than expected earnings in 2019
Here's what Cox reported compared to what Wall Street expects to be based on a survey by analysts at Refinitiv:
- Earnings per share: 43 cents vs. 43 cents expected [Revenue:Netsalesdropped6percentto706billiondollarsbutstillexceededexpectationsfor704billiondollarsThecompanyattributesadeclineincurrencyearningsandthereflowofitsbottlingoperationsaprojectthatisalmostready
Sales of sparkling soft drinks declined by 1% in the fourth quarter, despite the popular Coca-Cola Zero Sugar
The volume of individual cases for the quarter was unchanged from last year. Quincey gave the flat volume of focus to the "value over volume" of some markets. North American sales fell by 1%, as the effects of mid-summer rises have finally hit the consumer, he said during a conference call
. "But then it started to increase, so we started the good year."
Moreover, economic conditions in some emerging markets, such as Central America, are offsetting growth in India and Central and Eastern Europe. For example, in Argentina, the volume of shares fell by double digits as the country entered recession in the second half of 2019
The soda giant reported net fiscal fourth quarter profit of $ 870 million from a loss from $ 2.75 billion, or 65 cents per share, a year earlier. Coke said cargo freight costs have had a negative impact on his revenue during this quarter. Deputy Treasurer John Murphy, who will take Katy Wooller's retirement benefit in March, told analysts that the company is not expecting the same US cargo growth over the previous year as in 2018.
Except for Products, Coke
For the financial year 2019, Cox predicts organic revenue growth of 4%. "We are cautious in our forecast for 2019, the many reductions in the prospects for global economic growth for 2018 and our own experience in some of the emerging and emerging markets," Kunshi said.
Murphy also said the company expects higher interest costs on the basis of the interest rate increase and more significant currency strikes in the first half of 2019 and not in the last half of the year  By reducing the consumption of carbonated beverages, the beverage giant expands beyond its core business with soft drinks. Last year, she acquired the British Costa Costa for $ 5.1 billion, which is one of her six acquisitions in 2018. Quincey told analysts about the quarterly conference call that the deal ended in Costa 3 January, several months earlier . The deadline for approaching Brexit without a clear exit, Quincey said the business has contingency plans for Costa and the rest of its companies in the UK.
in this scenario and we will deal with it, "said Kunsey.