Coca-Cola is set to report its first quarter 2023 results before the market opens on Monday, April 24 with investors eyeing the company to see if it can again top expectations.
The beverage company is set to post solid quarterly results, with analysts expecting earnings per share of $0.65, compared to earnings per share of $0.64 in the year-ago quarter.
Revenue is expected to come in at $10.8 billion, a 3% increase year-over-year from $10.5 billion in the first quarter of 2022.
When it released its fourth quarter 2022 results in February, Coca-Cola forecast that its comparable earnings per share (non-GAAP) percentage growth in 1Q would include a 6% to 7% currency headwind based on the current rates and including the impact of hedged positions.
The company also said its comparable net revenue (non-GAAP) for the quarter is expected to include a 5% to 6% headwind based on the current rates and including the impact of hedged positions, in addition to a 1% headwind from acquisitions, divestitures, and structural changes.
Coca-Cola shares were modestly higher on Friday afternoon, up 0.1% at US$64.04.
-- Updated with share price --
Contact the author at emily.jarvie@proactiveinvestors.com
Follow her on Twitter @emilyjjarvie