Coca-Cola Lifts FY22 Forecast - Update

(RTTNews) - While reporting higher financial results for the third quarter on Tuesday, beverages giant Coca-Cola Co. (KO) raised its fiscal 2022 outlook for comparable earnings growth and organic revenue growth.

In pre-market activity on the NYSE, Coca-Cola shares were gaining around 2.8 percent to trade at $59.20.

For fiscal 2022, the company now expects to deliver comparable comparable earnings per share growth of 6 percent to 7 percent from last year's $2.32 per share, with a 9 percent currency headwind. Comparable currency neutral earnings per share growth of 15 percent to 16 percent.

Previously, the company expected comparable earnings to grow in a range of 5 to 6 percent from last year, with a 9 percent currency headwind.

Further, the company now expects to deliver organic revenue growth of 14 percent to 15 percent, with a 7 percent currency headwind and 2 percent tailwind from acquisitions and divestitures. The earlier projected organic revenue growth was 12 to 13 percent, with a 6 percent currency headwind and 2 percent tailwind from acquisitions and divestitures.

For the fourth quarter, comparable net revenues are expected to include an 8 percent currency headwind, and comparable earnings per share is expected to include 9 percent currency headwind.

For fiscal 2023, comparable net revenues are expected to include an approximate 5 percent to 6 percent currency headwind, and comparable earnings per share is expected to include an approximate 7 percent to 8 percent currency headwind.