Coca-Cola Rises as Sales Inch Back, Guidance Reinstated
- The company has ‘seen sequential improvement,’ says CFO
- Coke sees 2021 organic revenue growth in high-single digits
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Coca-Cola Co.’s sales beat Wall Street’s expectations in the fourth quarter, giving the soda maker a boost after nearly a year of global lockdowns at restaurants, amusement parks and stadiums that have disrupted its business.
Organic sales fell 3% in the quarter ended Dec. 31 amid ongoing challenges from the coronavirus pandemic, slightly better than the 3.4% drop analysts surveyed by Consensus Metrix had been expecting. Global unit case volume fell 3%, a percentage point better than in the previous period, the Atlanta-based company said Wednesday in a statement.