Coca Cola (KO) Tops Q2 EPS by 2c, Offers Outlook

Coca Cola (NYSE: KO) reported Q2 EPS of $0.42, $0.02 better than the analyst estimate of $0.40. Revenue for the quarter came in at $7.2 billion versus the consensus estimate of $7.18 billion.

Outlook:

Full Year 2020 Considerations

As the coronavirus pandemic continues to evolve, there is uncertainty around its ultimate impact; therefore, the company's full year financial and operating results cannot be reasonably estimated at this time.

For comparable net revenues (non-GAAP), the company expects a 3% to 4% currency headwind based on the current rates and including the impact of hedged positions.

For comparable operating income (non-GAAP), the company expects a high single-digit currency headwind based on the current rates and including the impact of hedged positions.

The company’s underlying effective tax rate (non-GAAP) is estimated to be 19.5%.

Third Quarter 2020 Considerations

Comparable net revenues (non-GAAP) are expected to include a 3% to 4% currency headwind based on the current rates and including the impact of hedged positions.

Comparable operating income (non-GAAP) is expected to include a 7% to 8% currency headwind based on the current rates and including the impact of hedged positions.

For earnings history and earnings-related data on Coca Cola (KO) click here.

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