Coca-Cola's (KO) Q3 Earnings Beat Estimates On Healthy Drive
Zacks Investment Research | Oct 24, 2017 10:28PM ET
The Coca-Cola Company (NYSE:KO) reported better-than-expected third-quarter 2017 results. Despite reporting flat soda volumes, the coal giant gained from higher demand for Sprite, tea and coffee. Again, cost-cutting initiatives led by the refranchising of its low-margin bottling operations helped it to come up with better numbers.
Earnings Beat
Third-quarter 2017 adjusted earnings of the company were 50 cents per share, surpassing the Zacks Consensus Estimate of 49 cents by 2%.
Earnings also improved from the year-ago profit level of 49 cents helped by ongoing productivity efforts.
Sales Discussion
Net revenues, however, declined 15% year over year to $9.1 billion due to the negative impact of structural items, marking the 10th consecutive quarterly decline in revenues. Acquisitions/divestitures and structural items had a 18% impact on revenues, partly offset by 3% positive contribution of price/mix. The structural changes primarily include the impact of bottler refranchising efforts.
Revenues, however, surpassed the Zacks Consensus Estimate of $8.8 billion.
Coca-Cola Company (The) Price, Consensus and EPS Surprise
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