Investors are concerned about the challenges faced by the beverage giant, including high sugar prices, lower consumer demand and the popularity of GLP-1 drugs.
For 2023, Coke expects comparable adjusted earnings per share growth of 5% to 6% and organic revenue growth of 8% to 9%.The beverage giant's stock has fallen 15% this year, dragging its market value down to about $234 billion. Shares are under pressure as investors worry about both short-term and long-term challenges for Coke.
Like many companies, Coke has been raising prices on its products, driving some consumers to shop for cheaper private-label options instead. The strong U.S. dollar makes its drinks even more expensive abroad. And while many commodities have become less expensive, sugar prices have stayed high.While Coke has pivoted its portfolio in recent years to include fewer sugary drinks, its namesake brand and other sodas are still important to the company's net sales.
For 2023, Coke expects comparable adjusted earnings per share growth of 5% to 6% and organic revenue growth of 8% to 9%.
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