Coca-Cola (NYSE:KO) earnings for the first quarter of 2020 have KO stock down on Tuesday. This is despite reporting revenue of $8.6 billion, which is above Wall Street’s estimate of $8.28 billion. The beverage company also reported adjusted earnings per share (EPS) of 51 cents, while analysts were expecting adjusted per-share earnings of 44 cents for the quarter.
Now let’s see what else is worth mentioning from the most recent Coca-Cola earnings report.
- Revenue for the quarter comes in 1.04% lower compared to $8.69 billion during the same time last year.
- Adjusted EPS was up 6.25% from 48 cents during Q1 2019.
- Operating income of $2.38 billion is 2.46% worse year-over-year than $2.44 billion
- Coca-Cola’s earnings also includes a net income of $2.78 billion.
- That is 65.48% better than $1.68 billion from the first quarter of 2019.
James Quincey, chairman and CEO of Coca-Cola, said this about the KO stock earnings report:
“Our approach to navigating the pandemic is grounded in our company’s purpose, which ensures that we continuously strive to make a difference for people in the communities we serve around the world. We’ve been through challenging times before as a company, and we believe we’re well positioned to manage through and emerge stronger. The power of the Coca-Cola system is our greatest strength in times of crisis. The resilience of our people, the equity of our brands and the strength of our bottling partners continue to be competitive advantages in the market.”
The Coca-Cola filing does not include guidance for fiscal year 2020 due to potential impacts on the business from the novel coronavirus. However, we know what Wall Street is looking for. Analysts’ estimates call for EPS of $2.02 on revenue of $35.66 billion.
KO stock ended the day on Tuesday down 2.58%.
Nick Clarkson is a web editor at InvestorPlace. As of this writing, he did not hold a position in any of the aforementioned securities.
