Coke raises full-year sales forecast after stronger-than-expected 3rd quarter

BY DEE-ANN DURBIN

Coca-Cola raised its full-year revenue forecast Tuesday after a stronger-than-expected third quarter.

Atlanta-based Coke said it now expects its organic revenue will be up 10% to 11% for the year. That’s up from the 8% to 9% guidance Coke announced at the end of the second quarter. Coke expects earnings – adjusted for currency variations – will grow 13% to 14%, up from a previous forecast of 9% to 11%.

Coke’s shares rose 3% in morning trading Tuesday.

Coke said its global case volumes rose 2% for the July-September period. Coffee sales saw the strongest growth, as demand grew in the United Kingdom and China. Coca-Cola Zero Sugar sales were up 3% on growing demand in Latin America and North America. Sports drink sales also grew 3%.

Water sales were up 1%, while tea sales fell 1% on declining demand in Turkey and Latin America.

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