Coca-Cola Co.
KO,
-1.55%
stock rose 1.5% in Thursday premarket trading after the beverage giant reported fourth-quarter earnings and revenue that beat expectations. Net income of $2.414 billion, or 56 cents per share, was up from $1.456 billion, or 34 cents per share, last year. Adjusted EPS of 45 cents beat the FactSet consensus for 41 cents. Revenue totaled $9.464 billion, up from $8.611 billion and also ahead of the FactSet consensus for $8.986 billion. “The fourth quarter marked the first quarter in which away-from-home volume was ahead of 2019, while strength in at-home channels also continued,” the company said in the earnings release. Volume for sparkling soft drinks was up 8% for the quarter; nutrition, juice, dairy and plant-based beverages were up 11%; and hydration, sports, coffee and tea grew 12%. For 2022, Coca-Cola is guiding for organic revenue growth of 7% to 8% and EPS growth of…
