Coca-Cola (NYSE:KO) shares rose more than 2% intra-day today after the company announced better-than-anticipated Q3 results.
The company’s adjusted EPS stood at $0.74, surpassing the projected $0.70. Quarterly revenue reached $12 billion, exceeding the $11.44 billion consensus.
CEO James Quincey stated that given their performance, they’re adjusting their full-year guidance upwards. The price/mix rose by 9%, outperforming the anticipated 6.2%, and unit case volume grew by 2%.
Coca-Cola now forecasts its adjusted organic revenue to increase by 10-11%, topping the 9.9% consensus. The company also predicts a 13-14% growth in comparable currency-neutral adjusted EPS and a 7-8% rise in comparable adjusted EPS.