Earnings

Coca-Cola says strong sales of Coke Zero Sugar are driving revenue growth

Marcos Brindicci | Reuters

Coca-Cola will report third-quarter earnings before the bell Friday.

Here’s what analysts surveyed by Refinitiv are expecting:

  • Earnings per share: 56 cents expected
  • Revenue: $9.4 billion expected

Coke’s stock, valued at nearly $231 billion, is up 14% since the start of the year. Shares of rival PepsiCo, which has a market value of $192 billion, are up 24% in the same period of time.

Last quarter, the beverage giant raised its full-year outlook for revenue, predicting a weaker dollar. It now expects organic revenue growth of 5% rather than 4%.

Coke has been looking to leverage the recognition of its namesake brand in other beverage categories as soda consumption declines in its home market. The company’s Zero Sugar line has seen double-digit volume growth globally for several quarters. Coke is also launching its first energy drink under the Coca-Cola brand. Coke Energy is available in at least 25 countries and will be making its U.S. debut in January.

Investors will also be waiting to hear updates on Coke’s launch of its first product line with Costa Coffee. The Atlanta-based company completed the acquisition of the British coffee brand in January and launched the line of canned coffee drinks in the U.K. in June. Coke has planned to roll it out to other European countries and China this year but has no plans to introduce the ready-to-drink coffee beverages in the U.S.

This story is developing. Please check back for updates.

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