Coca-Cola Q1 Earnings Preview: Will Beverage Giant Beat Revenue Estimates For 13th Straight Quarter?

Beverage giant Coca-Cola Co (NYSE:KO) will report first-quarter financial results before market open Tuesday, April 30, 2024.

Here are the earnings estimates and key items to watch ahead of the report.

Earnings Estimates: Analysts expect Coca-Cola to report first-quarter revenue of $11.01 billion according to data from Benzinga Pro.

The estimated revenue would come in slightly ahead of last year’s first-quarter total of $10.98 billion. The company has beaten revenue estimates from analysts in 12 straight quarters.

Analysts expect the company to report first-quarter earnings per share of 70 cents, compared to 68 cents reported in last year’s first quarter. The company has beaten earnings per share estimates from analysts in three of the past five quarters and met expectations in two of the past three quarters.

Coca-Cola said earlier this year it expects fiscal year organic revenue to be up 6% to 7% year-over-year and earnings per share to increase 4% to 5% year-over-year.

Key Items to Watch: The earnings report from Coca-Cola will be closely monitored as food and beverage stocks can provide a barometer for consumer spending amid a time of increased inflation.

Coca-Cola and other food and beverage companies are working on revamping product lines and marketing to better align with low-income consumers according to a recent report.

The beverage giant has also been linked to being a company that could see declines in sales due to weight-loss drugs, which continues to be an item to monitor based on management commentary in quarterly results.

Another item to watch will be commentary on international conflicts including Europe and the Middle East. Coca-Cola said in February that it doesn’t expect the conflicts to have a material impact on its results, but that could change as time passes.

Comments on new products and future items could also be a key to watch as investors and analysts size up what’s in store for Coca-Cola for the rest of 2024.

KO Price Action: Coca-Cola shares trade at $61.75 versus a 52-week trading range of $51.55 to $64.69. Shares of Coca-Cola are down 3% over the last year.

Photo: Shutterstock

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