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Coca-Cola Co. (NYSE:KO) is slated to announce third-quarter earnings on Tuesday, and investors are hoping that soft drink sales will bubble the stock higher.
Analysts expect the Atlanta-based soda company to report a profit of 81 cents per share and revenue of $8.12 billion for the quarter, according to Thomson Reuters; that would be in line with what Coke earned per share in the year-ago period. Investors are hoping that the recessionary pressures will continue to drive consumers away from healthier (but more expensive) juices and teas and toward cheaper soda products. Nevertheless, Coke has been actively expanding its appeal to the health-conscious. The company spent $15 million for a 20% stake in Zico Beverages LLC in September. Aside from that, Coke is expanding its presence internationally -- roughly 85% of its sales come from overseas, prompting Coke to keep a keen eye out for opportunities for international growth. Last month Coke announced plans to put $200 million more in its Vietnam operations over the next three years, an investment is equal to the company's total investment in that market since 1994. Still, Coke has been relatively quiet on the dealmaking front after a failed bid for China Huiyuan Juice Group Ltd. With over $2 billion in the bank, Coke has plenty of cash for other deals or even to buy back shares. - George White Also see: Dealwatch on bottling companies
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