Coca-Cola Sees FX Helping This Year, Hurting Next Year -- Currency Comment
28 October 2021 - 1:03AM
Dow Jones News
By Colin Kellaher
Coca-Cola Co. on Tuesday said foreign-exchange gave a boost to
earnings in the third quarter but will likely weigh on results next
year.
The Atlanta soft-drinks giant said its third-quarter adjusted
per-share earnings rose 18%, including the impact of a 3-point
currency tailwind.
The company said its consolidated operating income rose 26%,
including items impacting comparability and a 4-point currency
tailwind.
Looking ahead, Coca-Cola said it expects full-year adjusted EPS
growth of 15% to 17%, reflecting a 2% to 3% currency tailwind based
on current rates and including the impact of hedged positions.
For 2022, Coca-Cola said it expects comparable net revenue and
adjusted EPS to include a roughly 2% to 3% currency headwind based
on current rates and including the impact of hedged positions.
Write to Colin Kellaher at colin.kellaher@wsj.com
(END) Dow Jones Newswires
October 27, 2021 09:48 ET (13:48 GMT)
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