Investing.com -- Coca-Cola (NYSE:KO) has said it expects to deliver full-year adjusted organic revenue growth of 6% to 7%, just ahead of Bloomberg consensus predictions of 5.9% but slower than the pace registered in 2023, signalling a waning benefit from a recent surge in prices.
The beverage behemoth, much like rival PepsiCo (NASDAQ:PEP), has lifted prices in response to elevated inflationary pressures, boosting revenues but threatening to weigh on demand from cost-conscious American shoppers. However, unlike PepsiCo, which posted a 4% dip in unit sales volumes in its most recent quarter, demand at Coca-Cola has remained somewhat resilient.
In the three months ended on Dec. 31, unit case volume in North America slid by 1%, partly reflecting weakness in demand for the company's water, coffee, tea, and sports drinks. The downturn was offset by higher volumes in Europe and Latin America. Total unit case volumes grew by 2%, unchanged from the previous quarter.
Price mix, a measure of the value of the firm's products, jumped by 9%.
Fourth-quarter comparable earnings per share increased by 10% to $0.49, meeting Wall Street estimates. Adjusted operating revenue of $10.8 billion were just above projections of $10.65B.
Shares in Coca-Cola hovered just above the flatline in premarket U.S. trading.