Coca-Cola trades higher after Q3 volume tops pre-pandemic level
$Coca-Cola(KO.US$ swings higher after strong FY21 guidance follows a consensus-topping Q3 earnings report.
Organic revenue was up 14% during the quarter, including 8% growth in concentrate sales and 6% growth in price/mix. KO notes that the revenue growth was broad-based with particular strength in markets where coronavirus-related uncertainty is abating. Importantly, volume for Q3 was ahead of the pre-pandemic level seen in 2019.
Coca-Cola gained value share in total nonalcoholic ready-to-drink beverages, which included share gains in both at-home and away-from-home channels.
"While the recovery continues to be asynchronous around the world, we are investing for growth to drive long-term value for the system. Our strong system alignment and networked organization are helping us unlock enormous potential in our brands and across our markets," says CEO James Quincey.
Shares of Coca-Cola are up 2.68% to $55.93 after the earnings topper.
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Biotechmaster : PERFECT! Long KO!
Austin ONeill Biotechmaster: With a full position no less....just watching it go higher and collecting the div.
Austin ONeill : Great company dividend king KO, it's about time Quincey.
The experts, (although usually wrong) have target price of 60. Hope they are right this time. I sincerely hope Quincey keeps his focus on the business and away from the virtue signalers in his HR department. Leave the politics to the activists and our short sighted politicians in Washington, and continue to serve your customers and make us money.
A good first step albeit against a weak last year.
Kate11 : Cool
ATS A trade sniper : drin coke hohoho