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Coca-Cola Earnings Preview Cheat Sheet
Wall St. Earnings Expectations: The average analyst estimate is for profit of 50 cents per share, a decline of 2% from the company’s actual earnings for the year-ago quarter. During the past three months, the average estimate has moved down from 54 cents. Between one and three months ago, the average estimate moved down. It has been unchanged at 50 cents during the last month. Analysts are projecting profit to rise by 4.2% versus last year to $2.
Past Earnings Performance: Last quarter, the company topped estimates by 0 cents, coming in at net income of 61 cents per share against a mean estimate of profit of 60 cents. The company fell in line with estimates in the first quarter.
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Stock Price Performance: The stock price saw one of its best stretches over the last year between June 25, 2012 and July 3, 2012, when shares rose for seven straight days, increasing 5.9% (+$4.39) over that span.
Analyst Ratings: With 12 analysts rating the stock a buy, none rating it a sell and four rating the stock a hold, there are indications of a bullish stance by analysts.
Balance Sheet Analysis: The company’s current ratio of assets to liabilities came in at 1.11 last quarter. The current ratio is an indication of a firm’s liquidity and ability to meet creditor demands and generally, for every dollar the company owes in the short term, it has that figure available in assets that can be converted to cash in the short term. The company regressed in this liquidity measure from 1.13 in the first quarter to the last quarter driven in part by an increase in liabilities. Current liabilities increased 6.6% to $26.48 billion while assets rose 4.6% to $29.32 billion.
On the top line, the company is looking to build on four-straight revenue increases heading into this earnings announcement. Revenue rose 45.4% in the third quarter of the last fiscal year, 5.2% in the fourth quarter of the last fiscal year and 5.9% in the first quarter before increasing again in the second quarter.
The company is hoping to rebound with this earnings release after a net income drop last quarter. Net income rose 8.1% in the first quarter before dropping in the second quarter.
Wall St. Revenue Expectations: On average, analysts predict $12.38 billion in revenue this quarter, a rise of 1.1% from the year-ago quarter. Analysts are forecasting total revenue of $48.2 billion for the year, a rise of 3.5% from last year’s revenue of $46.55 billion.
A Look Back: In the second quarter, profit fell 0.3% to $2.79 billion ($1.21 a share) from $2.8 billion ($1.20 a share) the year earlier, but exceeded analyst expectations. Revenue rose 2.7% to $13.09 billion from $12.74 billion.
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(Company fundamentals by Xignite Financials. Earnings estimates provided by Zacks)
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