Coca-Cola reported fourth quarter earnings that came in higher than expected.
The beverage giant’s earnings for the quarter were or 34 cents a share, compared to 47 cents per share a year earlier.
Excluding nonrecurring items, adjusted earnings per share rose to 47 cents from 44 cents, surpassing the FactSet consensus of 42 cents.
Revenue fell -5% year-over-year to $8.61 billion, just above the FactSet consensus of $8.60 billion. North America revenue fell the least at -1% among all geographical locations reported. Latin America revenue plunged the most at -14%.
Looking ahead, the company expects adjusted EPS growth in the high-single to low-double digits percentage ranges for 2021, compared to FactSet EPS consensus of 7.7% growth.