The Coca-Cola Company Updates Currency Outlook and Reaffirms Guidance
Thursday, June 14th, 2018
In connection with a presentation at the Deutsche Bank Global Consumer Conference, The Coca-Cola Company updated its currency outlook, while also reaffirming other previously announced guidance for 2018.
The company updated second quarter and full year 2018 expectations for currency based on current rates and including the impact of hedged positions. The company now expects the currency headwind to second quarter comparable net revenues (non-GAAP) to be in the range of 0% to 1% and expects the full year 2018 currency headwind to comparable net revenues (non-GAAP) to be in the range of 0% to 1%.
Additionally, the company now expects the currency headwind on second quarter comparable operating income (non-GAAP) to be approximately 2% and expects the full year 2018 currency headwind on comparable operating income (non-GAAP) to be in the range of 2% to 3%.
The company reaffirmed its remaining, previously announced full year 2018 expectations, including organic revenue (non-GAAP) growth of 4% and, despite increasing headwinds from currencies, comparable EPS from continuing operations (non-GAAP) growth of 8% to 10%.