Old Coca-Cola bottles are seen in a store window in Manhattan, New York City on July 15, 2024.
Beata Sales | Photo only | Getty Images
Coca-Cola will report third-quarter results before the bell on Wednesday.
Here's what Wall Street analysts surveyed by LSEG expect:
- Earnings per share: 74 cents
- Revenue: $11.60 billion
In recent quarters, Coca-Cola has been the best competitor PepsiCowhich has been hurt by the fallout from the Quaker food recalls, a slowdown in snacking and declining sales of energy drinks.
Coca-Cola is reporting strong demand in its international markets, helping to offset weaker demand in the United States. In its home market, consumers are eating out less, hurting the company's off-premises sales and prompting Coca-Cola to partner with chains to offer combo meals.
Despite the domestic challenges, Coke raised its full-year outlook last quarter and executives expressed confidence that the company can achieve those goals in the second half of the year. For 2024, Coke expects organic sales growth of 9% to 10% and comparable earnings growth in a range of 5% to 6%.
Coke shares have risen 18% this year, pushing the company's market value to nearly $300 billion.
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