Coca-Cola posted its second-quarter earnings this week, beating analysts’ expectations as sales at several public places recovered from the pandemic.
The beverage behemoth’s adjusted earnings in the quarter came in at 70 cents, well above the67 cents expected by analysts.
Revenue was $11.3 billion, versus $10.56 billion expected. Revenue grew +12% year-over-year on higher pricing and an increase in global case volume, on the back of recovery in its away-from-home business.
For the full-year Coca-Cola now expects organic revenue growth in the range of 12% to 13%, up from its prior outlook of 7% to 8%. It reaffirmed its forecast for comparable earnings per share growth of 5% to 6%.
CEO James Quincey said that the company doesn’t anticipate any a significant dent in consumer in pending, since consumers in recessionary environments typically reduce bigger ticket purchases before trying to slow down lower-ticket purchases.