Coca-Cola results outpace analyst estimates despite costs and currency issues
Coca-Cola Co. KO, +0.97% reported second-quarter net income of $1.905 billion, or 44 cents per share, down from $2.641 billion, or 61 cents per share, last year. Adjusted EPS of 70 cents was ahead of the FactSet consensus for 67 cents. Revenue of $11.325 billion was up from $10.129 billion and beat the FactSet consensus for $10.565 billion. Global unit case volume was up 8%. Operating margin was down to 20.7% versus 29.
8% last year, due to the BodyArmor acquisition, currency impact, higher operating costs and year-over-year increases in marketing costs. Coca-Cola now expects a full-year 3-cents-per-share EPS impact from its suspension of business in Russia. The beverage giant maintained its other Russia impact guidance for the year: a 1% impact on unit case volume and a 1%-to-2% impact on revenue and operating income. Coca-Cola stock edged up 0.7% in Tuesday premarket trading.
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