Coca-Cola Maintains FY20 Outlook; Provides COVID-19 Impact On Q1 - Quick Facts

(RTTNews) - Coca-Cola Co. (KO) on Friday reaffirmed its guidance for the full-year 2020 and provided an update on the expected impact from COVID-19 on first quarter 2020 results, ahead of its presentation at the Consumer Analyst Group of New York (CAGNY) Conference.

For fiscal 2020, the company continues to project comparable earnings to be about $2.25 per share on organic revenue growth of about 5 percent.

On average, analysts polled by Thomson Reuters expect the company to report earnings of $2.26 per share on revenue growth of 4.7 percent to $39.05 billion for the year. Analysts' estimates typically exclude special items.

Meanwhile, the company said it currently estimates an approximate 2- to 3-point impact to unit case volume, 1- to 2-point impact to organic revenue and 1- to 2-penny impact to earnings per share for the first quarter due to COVID-19.

However, the situation with COVID-19 or coronavirus continues to evolve, and the company expects to provide more information during its next earnings call in April.

China ranks as the third-largest market in the world for The Coca-Cola Company in terms of unit case volume.