Coca-Cola Lifts Outlook as Consumers Absorb Price Hikes

The company has revised its 2023 revenue growth outlook to 10-11%, up from 8-9%, despite analysts expecting around 9.9%. Profit growth is also expected to rise to 7-8%, with a larger foreign exchange headwind at 6%. Third-quarter earnings exceeded expectations with EPS at $0.74. The focus remains on price mix strategies, similar to Procter and Gamble, to counter consumer health concerns. Global volumes rose by 2%, but North America remained flat. In contrast, Pepsi, a key competitor, anticipates similar revenue growth but faces a 6% volume decline in North America.

What was the earnings per share (EPS) reported in the third quarter?

How does the volume growth of the company compare to that of its rival, Pepsi?