Coca-Cola Warns of 1Q Coronavirus Hit But Backs Full-Year Guidance
21 Februar 2020 - 1:03PM
Dow Jones News
By Colin Kellaher
Coca-Cola Co. on Friday warned that the coronavirus epidemic in
China will clip its first-quarter sales and earnings, but the
beverage giant is standing by its full-year 2020 forecasts.
The Atlanta company said it currently expects the Covid-19
epidemic will reduce its quarterly per-share earnings by one cent
to two cents. It also expects a roughly two- to three-point impact
on unit case volume and a one- to two-point impact on organic
revenue.
China is the company's third-largest market in terms of unit
case volume.
Coca-Cola, which last month said it expects organic revenue
growth of about 5% and adjusted earnings of $2.25 a share this
year, said it still expects to achieve its full-year guidance.
The company noted that the Covid-19 situation continues to
evolve, and said it will provide more information during its
first-quarter earnings call in April.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
February 21, 2020 06:48 ET (11:48 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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