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Coca Cola’s Pricing Strength Continues to Power Results

publication date: Feb 14, 2024
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Image: Coca-Cola’s pace of price/mix expansion continues to drive strong performance. 

On February 13, Coca-Cola reported strong fourth quarter results that exceeded expectations on both the top and bottom lines. The standout metric in the quarter was organic revenue growth, which advanced an impressive 12% in the quarter thanks to a solid 9 percentage-point increase in price/mix and 3 percentage-point expansion in concentrate sales. The company’s outlook for 2024 was strong as well, with the company targeting organic revenue expansion of 6%-7% for the year, and we like the momentum behind Coca-Cola’s performance. The Dividend King continues to deliver for investors, and while shares are trading above our fair value estimate, investors can do a lot worse than investing in Coca-Cola, in our view.


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