Loading...
Loading...
Shares of
The Coca-Cola CoKO were trading lower by around 0.68 percent early Tuesday morning after the company reported its
fourth quarter results.
Coca-Cola said that it earned $0.38 per share in the fourth quarter on revenue of $10.0 billion. Wall Street analysts were expecting the company to earn $0.37 per share on revenue of $9.9 billion.
Net revenue declined 8 percent during the fourth quarter while organic revenue fell by 1 percent, primarily due to the impact of 6 fewer days in the reporting calendar. Global volume grew 3 percent in the quarter while global price/mix grew 2 percent in the quarter.
Full-year fiscal 2015 net revenue fell 4 percent while organic revenue grew 4 percent. Global volume grew 2 percent for the full year while global price/mix also grew 2 percent.
Coca-Cola announced in its earnings that management has decided to accelerate its re-franchising plans in North America. The company is now aiming to re-franchise 100 percent of its company-owned bottling territories in North America by the end of 2017.
Coca-Cola also added that it remains committed to a previously announced $3 billion productivity initiative.
Looking forward to fiscal 2016, Coca-Cola is guiding its full-year currency neutral earnings per share growth to be 4 percent to 6 percent (including the impact of 3 to 4 points of structural headwind).
Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola
Company said, "In late 2014, we laid out a clear five-point plan to reinvigorate growth and increase profitability. In 2015, a transition year, we delivered on this plan despite an increasingly challenging global macroeconomic environment. Our fourth quarter performance was a testament to the action we took as the Company continued to deliver solid pricing and unit case volume growth, culminating in 4% organic revenue growth for the full year. Importantly, this topline growth was led by our flagship market of North America, which delivered its strongest annual performance in three years."
Loading...
Loading...
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date | ticker | name | Actual EPS | EPS Surprise | Actual Rev | Rev Surprise |
---|
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in