Global Beverage Behemoth Coca-Cola (KO) Had Been Performing Well on NYSE Until Now…
Coca-Cola (KO) is a brand known around the world for its dazzling red cans and reliable soft-drink taste. I’m living outside of the United States, but I have a coke in my fridge. In fact, I dont even have to go to the supermarket because the local street vendor in my neighborhood has them for sell at all times! And I guarantee you they are hot selling items in the neighborhood for welcoming foreign guests.
That’s why I wasn’t surprised to read the news about Coca-Cola beating Wall Street’s expectations on Q4 2022 earnings. Even with higher prices, as a result of food inflation, the coke soft-drink continues to sell off the shelves (or from the vendor himself) as a viable beverage internationally.
According to CNBC, the high point for Coca-Cola’s Q4 results was in net sales growth, rising 7% to $10.13 billion. But low points were attributed to a slight fall in net income from $2.41 billion to $2.03 billion. CEO James Quincey told reporters that “inflationary pressures from costs and wages” were one of the variables causing higher food and beverage prices.
These are the similiar scenarios that all CEOs are focusing on, particulary companies with exposure to North American & European consumers.
