Earnings

Coca-Cola withdraws 2020 outlook amid coronavirus pandemic

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James Quincey, President and chief operating officer of the Coca-Cola company.

Patrick Kovarik | AFP | Getty Images

Coca-Cola on Friday said that it does not expect to meet its financial outlook for 2020 due to the impact of the coronavirus pandemic.

Around the world, sporting events and concerts have been canceled, movie theaters and restaurants have been closed, and people are working from home. Those initiatives to promote social distancing, along with currency fluctuations, are expected to hit Coke’s business, according to a regulatory filing.

The beverage giant joins the growing list of companies like Ford Motor and Darden Restaurants that have withdrawn financial outlooks in…



Source cnbc.com

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