Coca-Cola Co. (KO ) reported its fourth quarter results before the opening bell on Tuesday morning, posting a slight gain in global growth for the quarter.
KO's Earnings in Brief
- Coca-Cola reported fourth quarter revenues of $10.87 billion, down 2% from last year’s Q4 revenues of $11.04 billion.
- Net income attributable to shareholders was down significantly, coming in at $770 million, or 17 cents per share, compared to last year’s $1.71 billion, or 38 cents per share. On an adjusted basis, however, EPS came in at 44 cents.
- KO beat analysts’ Q4 estimates of 42 cents EPS on revenues of $10.76 billion.
KO chairman and CEO Muhtar Kent had the following comments: “We are making solid progress on the implementation of the strategic initiatives we announced in October as evidenced by some early positive signs in the quarter. We remain resolutely focused on accelerating growth and taking advantage of opportunities to solidify our position in key markets and categories. However, we continue to see 2015 as a transition year as the benefits from the announced initiatives will take time to materialize amidst an uncertain and volatile macroeconomic environment. We remain confident that we have the right strategies in place, and our associates and bottling partners are embracing these initiatives and are enthusiastic about the opportunity ahead. We will continue to strengthen our brand portfolio and leverage our unparalleled global distribution system to create sustainable long-term shareowner value.”
Coca-Cola made no mention of its dividend in its earnings release. We expect the company to raise its dividend in the coming weeks.
KO stock was up $1.67, or 4.05%, in pre-market trading. YTD, the stock is down 2.16%.