Coca-Cola Warns of Currency Impact on 2Q, 2018 Revenue
June 13 2018 - 06:45AM
Dow Jones News
By Colin Kellaher
Coca-Cola Co. (KO) on Wednesday warned that currency impacts
could reduce second-quarter and full-year comparable revenue by up
to 1%, but the beverage giant affirmed its 2018 earnings
guidance.
The Atlanta-based company in April had said it expected a 1%
boost to revenue from currency in the second quarter and full year.
Coca-Cola now expects a negative impact of 0% to 1%.
Coca-Cola also said it now expects a currency headwind on
comparable operating income of about 2% in the second quarter and
2% to 3% for the full year. The company had previously flagged a
headwind of 1% for both periods.
Despite the currency impact, Coca-Cola said it still expects
adjusted per-share earnings growth of 8%-10% for the year. The
company also reaffirmed its expectations for 2018 organic revenue
growth of 4%.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
June 13, 2018 06:30 ET (10:30 GMT)
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