Coca-Cola is about to report earnings. Here’s what to expect

A worker restocks a display of Coca-Cola Co. soft drinks at a store in Orem, Utah, U.S., on Tuesday, Feb. 9, 2021.

George Frey | Bloomberg | Getty Images

Coca-Cola is expected to report fiscal third-quarter earnings before the market opens on Wednesday.

Here’s what Wall Street analysts surveyed by Refinitiv are expecting:

  • Earnings per share: 58 cents
  • Revenue: $9.75 billion

Like most food and beverage companies, Coke is seeing higher commodity and transportation costs. Last quarter, however, Chief Financial Officer John Murphy said that the company was feeling good about the rest of the year. Coke said it planned to raise prices and use productivity levers to manage volatility in the second half of 2021.

For the full year, Coke has been calling for organic revenue growth of 12% to 14%, with adjusted earnings per share growth of 13% to 15%.

RBC Capital Markets analyst Nik Modi said in a note to clients ahead of Coke’s earnings report that other challenges to consider are product availability and labor constraints. Modi said that his team’s recent channel checks suggest that bottlers are having a more difficult time getting products to market due to driver shortages, primarily in pockets of the United States and Europe.

Coke’s stock has dropped about 1% year to date. The company has a market value of $235 billion.

—CNBC’s Amelia Lucas contributed to this reporting.

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