Coca-Cola (KO, $59.35) earnings come in line with expectations
Coca-Cola adjusted non-GAAP earnings for the three months ending in December came in at 45 cents per share, matching the Street expectations. The figure is flattish to the year-ago quarter.
The beverage giant’s revenues climbed +6.65% to $10.1 billion, exceeding analysts' expectations of $10.02 billion. The group's operating margin expanded by 160 basis points to 22.7%. “While 2022 brought many challenges, we are proud of our overall results in a dynamic operating environment,” said CEO James Quincey. “As we begin 2023, we continue to invest in our capabilities and strengthen alignment with our bottling partners to maintain flexibility".
Looking into the 2023 financial year, Coca-Cola is expecting revenue growth of between 7% and 8% and adjusted earnings growth of between 4% to 5% from 2021 levels.
Momentum Indicator for KO turns positive, indicating new upward trend
KO saw its Momentum Indicator move above the 0 level on August 19, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 84 similar instances where the indicator turned positive. In of the 84 cases, the stock moved higher in the following days. The odds of a move higher are at .
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Notable companies
The most notable companies in this group are Coca-Cola Company (NYSE:KO), PepsiCo (NASDAQ:PEP).
Industry description
Non-alcoholic drinks include traces of alcohol or low alcohol content or without alcohol or alcohol removed. Functional Beverages, Carbonated Soft Drinks (CSDs), Sports Drinks, Fruit Beverages, and Bottled Water are some common types of non-alcoholic beverages. The largest segment in this market is soft drinks (think Pepsi and Coke). Many established companies in this space have also been stepping up production of low to zero-calorie varieties in recent years, to cater to a rising number of health-conscious consumers. Coca-Cola Company, Pepsico Inc, Keurig Dr Pepper Inc. and Monster Beverage Corporation are some major non-alcoholic beverage makers.
Market Cap
The average market capitalization across the Beverages: Non-Alcoholic Industry is 21.99B. The market cap for tickers in the group ranges from 1.77K to 263.76B. KO holds the highest valuation in this group at 263.76B. The lowest valued company is BVNNF at 1.77K.
High and low price notable news
The average weekly price growth across all stocks in the Beverages: Non-Alcoholic Industry was 1%. For the same Industry, the average monthly price growth was 1%, and the average quarterly price growth was 3%. SHOT experienced the highest price growth at 9%, while JSDA experienced the biggest fall at -30%.
Volume
The average weekly volume growth across all stocks in the Beverages: Non-Alcoholic Industry was 12%. For the same stocks of the Industry, the average monthly volume growth was -3% and the average quarterly volume growth was 14%
Fundamental Analysis Ratings
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
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