Coca-Cola confirms a cane-sugar version of its trademark cola is coming to the US this fall
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Coca-Cola reported better-than-expected earnings in the second quarter as higher prices offset weaker sales volumes.
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Case volumes fell 1 percent globally and 1 percent in North America, but Coke said Tuesday that pricing rose 6 percent for the April-June period.
Global case volumes of Coca-Cola fell 1 percent, mostly due to weaker sales in Latin America. One bright spot was Coca-Cola Zero Sugar, which saw volumes grow 14 percent.
Traditional Coca-Cola still far outsells the zero-sugar variety, but consumer demand for zero-sugar versions is growing much more quickly.
Global case volumes of juice, dairy and plant-based beverages fell 4 percent, Coke said. Sports drink case volumes were down 3%, as higher demand in North America was offset by declines in Latin America.
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Revenue for the Atlanta company rose 1 percent to $12.5 billion. Adjusted for one-time items, quarterly revenue was $12.6 billion. That was in line with Wall Street's forecast, according to analysts polled by FactSet.
Net income jumped 58 percent to $3.8 billion. Its adjusted net income was 87 cents, which was higher than the 83 cents Wall Street forecast.
Coke said Tuesday it now expects full-year adjusted earnings to grow 8 percent. At the start of the year, Coke had expected earnings to grow 8 percent to 10 percent, but in April it lowered that range to 7 percent to 9 percent. Coke earned $2.88 per share in 2024.
Shares of Coca-Cola Co. were down slightly early Tuesday as were all major US markets.
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As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB. NO SPECIFIC OUTCOME OR PROFIT IS GUARANTEED.
