Coca-Cola (KO) Q3 earnings: what to expect

Beverage company Coca-Cola (NYSE:KO) will be reporting results this Tuesday before the bell. Here’s what you need to know.

Coca-Cola beat analysts’ revenue expectations last quarter, reporting revenues of $13.37 billion, up 6% year on year. It was a strong quarter for the company, with a solid beat of analysts’ organic revenue estimates and a beat of analysts’ EPS estimates.

Is Coca-Cola a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.

This quarter, the market is expecting Coca-Cola’s revenue to grow 3.7% year on year, in line with the 3.9% increase it recorded in the same quarter last year.

Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. Coca-Cola rarely misses Wall Street’s revenue estimates.

Looking at Coca-Cola’s peers in the beverages, alcohol, and tobacco segment, some have already reported their Q3 results, giving us a hint as to what we can expect. Vita Coco delivered year-on-year revenue growth of 33.7%, beating analysts’ expectations by 6.1%, and Boston Beer reported a revenue decline of 3.2%, in line with consensus estimates. Vita Coco traded down 11% following the results while Boston Beer was up 2.7%.

Read our full analysis of Vita Coco’s results here and Boston Beer’s results here.

There has been positive sentiment among investors in the beverages, alcohol, and tobacco segment, with share prices up 3.9% on average over the last month. Coca-Cola is up 6.6% during the same time and is heading into earnings with an average analyst price target of $95.63 (compared to the current share price of $92.90).

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