One of the global beverage giants, Coca-Cola, posted its first-quarter 2021 figures
The company reported an adjusted EPS of 55 cents, ahead of the 50 cents expected. At the same time, the revenue came in at $9.02 billion versus the $8.6 billion forecasted. The results were driven by the monthly improvement in demand, especially in China, where uncertainty caused by COVID-19 has fallen. But in North America and Western Europe, the demand takes longer to recover. However, at a global level, the volume in March returned to 2019 levels.
Coca-Cola CEO James Quincey stated: “We are encouraged by improvements in our business, especially in markets where vaccine availability is increasing, and economies are opening up, and we remain confident in our full-year guidance.” The full-year forecast refers to an organic revenue increase in the high single digits, while the adjusted EPS is seen between high single numbers to low double digits.
In a separate filing, Coca-Cola announced that it is looking to list Coca-Cola Beverages Africa publicly. It will sell a portion of its holdings in an IPO, which is expected to occur in 18 months, with shares listed in Amsterdam and Johannesburg.
Following the news, Coca-Cola stock price went up less than 1%.
Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.
Key Way Markets Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance is not a reliable indicator of future results.