Coca-Cola's Q3 EPS soars 14% to $0.65
The Coca-Cola Company said Tuesday that its third-quarter 2022 net revenues came in at $11.1 billion, up 10% year-over-year, surpassing market estimates.
The company also noted that Earnings per share (EPS) rose by 14% to $0.65, while operating income grew 7%. Cash flow from operations stood at $8.1 billion year-to-date, a decrease of $1.2 billion versus the prior year. However, Coca-Cola raised its full-year outlook and "expects to deliver organic revenue (non-GAAP) growth of 14% to 15%."
"Our business is resilient amidst a dynamic operating and macroeconomic environment. We are investing in our strong portfolio of brands, which is a cornerstone of our ability to deliver long-term value for our stakeholders," stated James Quincey, Chairman and CEO of The Coca-Cola Company. Following the release of the quarterly results, Coca-Cola shares went up by 2.73% to sell for $59.14 in premarket trading.