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Coca-Cola has raised its annual organic sales forecast following strong first-quarter results, driven by increased demand for its sodas and juices.
Coca-Cola has raised its annual organic sales forecast as customers in the U.S. and international markets are spending more on its products. The company is experiencing robust demand, particularly in the away-from-home category, as consumers venture out for movies and dining.
Demand for Coca-Cola’s Coke sodas and Minute Maid juices is surging, especially in the U.S., where consumers are willing to spend more on premium beverages. This trend is contributing to the company’s strong first-quarter performance.
Coca-Cola is also witnessing buoyant demand in international markets, such as Europe and Latin America, where relaunches of products like Georgia Coffee and Sprite reformulations have driven sales growth.
To stimulate demand among lower-income customers, Coca-Cola is overhauling existing products and introducing newer items. This strategy aims to maintain the company’s market presence and cater to diverse consumer preferences.
Coca-Cola expects fiscal 2024 organic sales to grow by 8% to 9%, surpassing its prior forecast. This upward revision reflects the company’s confidence in sustained demand and effective strategic initiatives.
In the first quarter, Coca-Cola reported a 2.5% increase in net revenue to $11.23 billion, surpassing analysts’ estimates. Adjusted profit stood at 72 cents per share, outperforming expectations of 70 cents.
While Coca-Cola maintained its annual comparable earnings per share forecast, concerns remain about the underlying dollar basis. Analysts observe that despite the upward guidance, the company’s outlook suggests stable performance on a dollar basis.
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