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Coca Cola (KO) Tops Q1 EPS by 7c, Revenues Beat; Since Start of April Seeing Volume Decline Globally of ~25%
April 21, 2020 5:58 AM EDTCoca Cola (NYSE: KO) reported Q1 EPS of $0.51, $0.07 better than the analyst estimate of $0.44. Revenue for the quarter came in at $8.6 billion versus the consensus estimate of $8.29 billion.
In March, as the coronavirus pandemic spread globally, countries meaningfully increased social distancing and shelter-in-place mandates. In markets around the world, the company subsequently saw significant changes in consumer purchase patterns, notably substantial declines in away-from-home channels. In at-home channels, the company witnessed early pantry loading in certain markets, followed by more normalized demand levels, along with a sharp increase in e-commerce. Given that away-from-home channels... More
