The Atlanta-based maker of Sprite, Fanta and Minute Maid posted first-quarter earnings per share of 73 cents, above the average analyst estimate. The company also said it expects tariff impacts to be manageable and maintained its guidance for both sales growth and profit.
“Despite some pressure in key developed markets, the power of our global footprint allowed us to successfully navigate a complex external environment,” Chief Executive Officer James Quincey said in a statement. Net revenues fell 2% to $11.1 billion, just slightly lower than the $11.14 billion that was expected.
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The results show that Coca-Cola’s ability to keep up its profitability with higher prices stayed strong during the quarter. The soda company said that its price-mix, or the prices it charges across a range of products, increased by 5% during the quarter, below the 9% increase it reported a quarter earlier.
While volume in North America fell 3%, the region that includes Europe, the Middle East and Africa was up 3% in the quarter that ended March 28. Volume in Latin America was flat.
The shares rose 1% at 8:14 a.m. in early trading in New York. The stock has climbed 15% this year through Monday’s close, outpacing the S&P 500 Index and hovering near its record high.
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In an interview, CFRA analyst Garrett Nelson pointed to Coca-Cola’s relative stability amid market volatility sparked by President Donald Trump’s overhaul of US trade policy. With consumer staples being the best-performing sector, Coca-Cola is “considered a blue-chip barometer” within that group, Nelson said.
Coca-Cola’s performance contrasts with that of its chief rival, PepsiCo Inc., which last week lowered its guidance for the year due to uncertainties created by tariffs and White House health-related initiatives.
Coca-Cola has said that it has limited exposure to tariffs because most of its bottling operations around the globe are locally run businesses. Quincey told analysts earlier this year that the company may offset increases in the price of imported aluminium used for cans by switching to more plastic beverage containers.
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