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 5% to 6% from $2.32. The FactSet consensus is for revenue of $40.478 billion, implying growth of 6.2%, and EPS of $2.43, suggesting a 6% increase. Coca-Cola stock has gained 23% over the past year while the Dow Jones Industrial Average is up 13.8%.
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