Coca-Cola Sees 3% Currency Headwind on 4Q, 2020 Comparable Net Revenues
October 22 2020 - 8:57AM
Dow Jones News
By Allison Prang
Coca-Cola Co. said it expects about a 3% currency headwind for
comparable net revenues for the fourth quarter and full year.
The company had said in its second-quarter results it expected a
3% to 4% currency headwind on comparable net revenues for 2020.
For 2020, the company said it expects about a 6% currency
headwind for its comparable operating income. It had previously
said it was expecting that headwind to be in the high single
digits. For the fourth quarter, Coca-Cola expects that headwind is
expected to be about 9%, the company said.
Coca-Cola also still expects a 19.5% underlying effective tax
rate for 2020, it said.
For next year, Coca-Cola said it "expects minimal currency
impact" on both comparable net revenues and comparable operating
income.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
October 22, 2020 08:42 ET (12:42 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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