Coca-Cola Earnings and Guidance Were Stronger Than Meets the Eye

Coca-Cola stock is edging lower on Wednesday, a day after the beverage maker’s beat-and-raise third-quarter earnings. The report was a welcome win at a time when few investors are interest in owing consumer-staples stocks, but one that might not help the broader industry.

The company’s ability to boost its outlook even as currency headwinds intensify show that the report “was more than just another quarter,” according to Wells Fargo analyst Chris Carey. “Why? Simple: Coke again was given the opportunity to confront a growing foreign-exchange storm …and the ‘all weather’ model came through.”

Likewise at a time when plenty of staples companies—which have raised prices following inflation—are seeing volumes decline as belt-tightening consumers pull back on purchases, Coke seems to be bucking that trend. “Coke one of the few models in Staples currently that can reasonably make the case for volume growth next year,” Carey writes.

Newsletter Sign-up The Consumer Staples Select Sector SPDR exchange-traded fund is off 8.8% year to date.

Philippines Philippines Latest News, Philippines Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Coca-Cola earnings are out – Here are the numbersCoca-Cola's stock has fallen 15% this year, dragging its market value down to about $234 billion.
Source: CNBC - 🏆 12. / 72 Read more »

Coca-Cola beats earnings estimates, raises outlook as volume grows despite price hikesCoca-Cola's stock has fallen 15% this year, dragging its market value down to about $234 billion.
Source: CNBC - 🏆 12. / 72 Read more »

Coca-Cola Reports Earnings Tuesday. What to Expect.Many investors who piled into consumer staple stocks in 2022 to ride out market volatility have since pulled out.
Source: MarketWatch - 🏆 3. / 97 Read more »