The Coca-Cola Company Reaffirms Full Year Guidance and Provides Update on Expected Impact From COVID-19
21 Februar 2020 - 12:15PM
Business Wire
The Coca-Cola Company – which is presenting today at the
Consumer Analyst Group of New York (CAGNY) Conference – is
reaffirming its full year guidance in connection with the
presentation, along with sharing the expected impact from COVID-19
on first quarter 2020 results.
The company currently estimates an approximate 2- to 3-point
impact to unit case volume, 1- to 2-point impact to organic revenue
and 1- to 2-penny impact to earnings per share for the first
quarter. Based on its latest forecasts, the company still expects
to achieve its previously provided full year guidance.
These updates are based on current estimates. The situation with
COVID-19 – or coronavirus – continues to evolve, and the company
expects to provide more information during its next earnings call
in April.
The company’s deepest sympathies go out to those who have been
impacted by the COVID-19 outbreak. The company is carefully
following all government guidelines and taking precautionary steps
to do what it can to prevent the further spread of the virus. The
company is also donating to organizations that are working
diligently to support patients and contain the virus.
The safety and health of the company’s associates remains a high
priority. The company has implemented precautionary measures to
protect employees in China, which includes providing face masks and
hand sanitizers; installing temperature screening in offices and
manufacturing facilities; and setting up health monitoring
mechanisms across the Coca-Cola system in China.
China ranks as the third-largest market in the world for The
Coca-Cola Company in terms of unit case volume. The company sees
great opportunities in this important market and will continue to
invest for long-term growth.
Today’s presentation at CAGNY will be led by Coca-Cola Chairman
and CEO James Quincey and Chief Financial Officer John Murphy. It
is scheduled for 10 a.m. ET.
The company invites investors to join a webcast from CAGNY at
www.cocacolacompany.com/investors. A downloadable file from the
event, as well as a transcript, will be available within 24 hours
on the company’s website.
About The Coca-Cola
Company
The Coca-Cola Company (NYSE: KO) is a total beverage company,
offering over 500 brands in more than 200 countries and
territories. In addition to the company’s Coca-Cola brand, our
portfolio includes AdeS, Ayataka, Costa, Dasani, Del Valle, Fanta,
Georgia, Gold Peak, Honest, innocent, Minute Maid, Powerade,
Simply, smartwater, Sprite, vitaminwater and ZICO. We’re constantly
transforming our portfolio, from reducing sugar in our drinks to
bringing innovative new products to market. We’re also working to
reduce our environmental impact by replenishing water and promoting
recycling. With our bottling partners, we employ more than 700,000
people, helping bring economic opportunity to local communities
worldwide. Learn more at www.coca-colacompany.com and follow us on
Twitter, Instagram, Facebook and LinkedIn.
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version on businesswire.com: https://www.businesswire.com/news/home/20200221005080/en/
Investors and Analysts: Tim
Leveridge, koinvestorrelations@coca-cola.com Media: Scott Leith, sleith@coca-cola.com
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