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Coca-Cola expects coronavirus could hit first-quarter earnings by up to 2 cents

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Coca-Cola said Friday that the COVID-19 outbreak could drag down its first-quarter earnings by as much as 2 cents.

The global beverage giant is forecasting that the virus will hit its quarterly earnings by 1 cent to 2 cents, unit case volume by 2% to 3% and organic revenue by 1% to 2%.

Despite the hit to its first-quarter financial results, the company still expects to meet its full-year targets. Coke estimates 2020 organic revenue will grow by 5% and adjusted earnings per share will increase by 7% to $2.25. In 2019, the company  reported net sales of $37.3 billion and earnings per share of $2.07.

Shares of the company are down less than 1% in premarket trading. The stock, which has a…



Source cnbc.com

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