Coca-Cola Q1 Profit And Revenue Grow Better Than Estimates

(RTTNews) - The Coca-Cola Company (KO) Monday reported a higher profit in the first quarter helped by organic revenue growth across all segments. The company's earnings as well as revenue came in above analysts' view.

Profit in the first quarter increased 12% to $3.107 billion or $0.72 per share from $2.781 billion or $0.64 per share last year.

Excluding one-time items, comparable income was $2.939 billion or $0.68 per share. Analysts on average polled by Thomson-Reuters expected the company to report earnings of $0.64 per share. Analysts' estimates typically exclude special items.

Revenue for the quarter grew 5% to $10.980 billion from $10.491 billion last year.

Comparable revenue increased to $10.959 billion from $10.502 last year, while organic revenue growth was 12%. The consensus estimate was for $10.8 billion.

The company said there was 11% growth in price/mix and 1% growth in concentrate sales. For the full year, Coca-Cola Company expects to deliver organic revenue growth of 7%-8%, unchanged from earlier outlook.

comparable EPS for the year is expected to grow of 4%-5%, from $2.48 reported last year.

For the second quarter, the company now expects 3% to 4% currency headwind based on the current rates and including the impact of hedged positions, in addition to about 1% headwind from acquisitions, divestitures and structural changes.

Second-quarter Comparable EPS percentage growth is expected to include a 2%-3% currency headwind based on the current rates and including the impact of hedged positions.