Demand for Coca-Cola’s sodas has held steady even as it raised prices over the last few quarters to counter higher freight, commodity and labour costs
on Tuesday forecast 2023 profit above analysts’ estimates, betting on resilient demand for its sodas despite multiple price hikes to tackle rising costs.
Demand for the company’s sodas has held steady even as it raised prices over the last few quarters to counter higher freight, commodity and labour costs. Average selling prices rose 12 per cent in the fourth quarter, the maker of maker of Sprite and Fanta said, while unit case volumes declined 1 per cent.
The company forecast full-year adjusted earnings per share to rise between 4 per cent and 5 per cent, compared to the average analyst estimate of 2.96 per cent growth, according to IBES data from Refinitiv.Data Update
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