Coca-Cola Co. (NYSE: KO) reported fourth-quarter and full-year 2015 results before markets opened Tuesday. For the quarter, the soft-drink maker posted adjusted diluted earnings per share (EPS) of $0.38 on revenues of $10 billion. In the same period a year ago, the company reported EPS of $0.44 on revenues of $10.9 billion. Fourth-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.37 and $9.91 billion in revenues.
For the full year, Coca-Cola posted EPS of $2.00 and revenues of $44.29 billion, compared with 2014 EPS of $2.04 and revenues of $46 billion. Analysts were looking for EPS of $1.99 and revenues of $44.36 billion.
Quarterly operating income rose by 5% to $1.52 billion and net income rose 61% on a GAAP basis from $770 million to $1.24 billion. About $300 million of that income growth could be attributed to lower cost of goods.
For the 2016 fiscal year, the company estimates that organic revenue will rise 4% to 5%, with acquisitions and divestitures producing a four to five point headwind and currency exchange effects are also expected to snip four points from reported revenues.
Pretax income for 2016 is expected to rise by 6% to 8% on a currency neutral basis, with structural items costing the company three to four points and currency exchange effects costing nine points.
On a currency neutral basis, Coca-Cola now expects EPS growth of 4% to 6% with the same negative impacts as those affecting pretax income.
24/7 Wall St.Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Editors' Picks
