Coca-Cola Co. (NYS:KO) first-quarter net income totaled $2.25 billion, or 52 cents per share, down from $2.78 billion, or 64 cents per share last year. Adjusted EPS of 55 cents beat the FactSet consensus for 50 cents. Revenue of $9.02 billion was up from $8.60 billion last year and also ahead of the FactSet consensus for $8.68 billion. "We are encouraged by improvements in our business, especially in markets where vaccine availability is increasing and economies are opening up, and we remain confident in our full year guidance," said James Quincey, chief executive of Coca-Cola in a statement. For 2021, Coca-Cola is guiding for EPS growth from the high-single digits to low-double digits versus $1.95 in 2020. The FactSet consensus is for EPS of $2.14, implying a 10% increase. Coca-Cola stock edged up 0.6% in Monday premarket trading, but has slipped 2.1% for the year to date. The Dow Jones Industrial Average (DOW:DJIA) has gained 11.7% for 2021 so far.
April 19, 2021, 7:25 a.m. EDT