Coke Has Positive Earnings, and a Smile (KO)
The Coca-Cola Company (NYSE: KO) has managed to beat earnings and shares are trading higher in the pre-market after the report. On an operational and normalized basis, Coca-Cola’s earnings hit $0.79 EPS and that was above the Thomson Reuters consensus…
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For all of 2011 there was a 5% total case volume growth for the beverage giant, with Europe up 1% and China up 10%. North America’s organic case volume was up only 1% in the period. For the Year… Full-year EPS of $3.69 and $3.84 EPS on an adjusted basis. The 10% growth is said to be “both ahead of our long-term growth target.”
Coke is also launching a new Productivity and Reinvestment program that aims for annualized savings of $550 to $650 million by the end of 2015 as part of its 2020 Vision.
Shares closed at $68.03 on Monday and the 52-week range is $61.29 to $71.77; shares are up 1.3% at $68.90 so far in the pre-market with almost two hours until the market opens for trading.
JON C. OGG
Contact [email protected] for any questions or corrections.
Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
