Coca-Cola: raises annual targets

(CercleFinance.com) - On its quarterly earnings call, Coca-Cola says that it is now targeting FY 2024 comparable EPS growth (at CER) of 14% to 15%, up slightly from a previous target range of 13% to 15%.


Likewise, the soda giant now anticipates organic annual revenue growth of around 10%, instead of between 9% and 10%, with operating performance at the upper end of its long-term growth model.

Q3 2024 comparable EPS (non-GAAP) rose by 5% to $0.77, with a non-GAAP operating margin improving to 30.7% (from 29.7%) in the same period last year.

At $11.9bn, Coca-Cola's revenues were down 1% as reported, albeit with organic growth of 9%, with price and mix effects of ten percentage points more than offsetting a slight drop in volumes.


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