Coca-Cola reverses sales volume slide, sending revenue up 6 per cent in fourth quarter

Washington, Feb 11 (AP) Coca-Cola posted better-than-expected revenue in the fourth quarter as its sales volumes rose in the US, China and elsewhere.

Revenue for the Atlanta beverage giant rose 6 per cent to USD 11.5 billion. That was better than the USD 10.68 billion Wall Street was expecting, according to analysts polled by FactSet.

Analysts had expected Coke's unit case volumes to be up less than 1 per cent. But the company reported unit case volumes up 2 per cent, reversing a 1 per cent decline in the third quarter.

Coca-Cola Zero Sugar saw strong growth globally in the fourth quarter, with case volumes up 13 per cent. Water, coffee, tea and sports drink volumes were all up 2 per cent, the company said on Tuesday. Volumes for juice, dairy and plant-based drinks fell 1 per cent.

Coke hiked prices 9 per cent in the quarter, partly due to intense inflation in markets like Argentina. Prices also rose because Coke sold a higher mix of premium beverages like Fairlife milk and Topo Chico sparkling water. Last fall, Coke said it was trying to make its drinks more affordable by offering smaller pack sizes and refillable bottles.

Net income rose 11 per cent to USD 2.2 billion for the October-December period. Adjusted for one-time items, the company earned 55 cents per share. That also beat analysts' forecasts of 52 cents.

For 2025, Coke said it expects organic revenue growth of 5 per cent to 6 per cent. The company's organic revenue grew 12 per cent last year.

Coke's shares rose nearly 4 per cent in premarket trading Tuesday. (AP) PY PY

Source: PTI