Coca-Cola Surpasses Q3 Analyst Estimates As High Prices Boost Earnings

Benzinga 2024-10-23

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Coca-Cola reported third-quarter earnings and revenue that exceeded analysts’ expectations, driven by higher prices that compensated for softening demand. Coca-Cola's adjusted earnings per share and revenue exceeded analysts' expectations. In North America, Coca-Cola's unit case volume remained unchanged as declining demand for water, sports drinks, coffee, and tea balanced outgrowth in soda, juice, dairy, plant-based beverages, and sparkling flavors. Pricing increased by 10%, largely driven by inflation in key regions.

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