Coca-Cola Co on Tuesday forecast 2023 profit above analysts’ estimates, betting on resilient demand for its sodas despite multiple price hikes to tackle rising costs.
Demand for the company’s sodas has held steady even as it raised prices over the last few quarters to counter higher freight, commodity and labor costs.
Average selling prices rose 12% in the fourth quarter, the maker of maker of Sprite and Fanta said, while unit case volumes declined 1%.
The company forecast full-year adjusted earnings per share to rise between 4% and 5%, compared to the average analyst estimate of 2.96% growth, according to IBES data from Refinitiv.
Shares of the company rose marginally in premarket trading.
via Reuters
Washington told allies it will gradually scale down the number of strategic bombers, fighter jets, drones, submarines and warships dedicated to NATO as it continues pressing Europe to do...
European Union governments cleared legislation on Wednesday to remove import duties on many U.S. goods, an EU source with knowledge of their meeting said, a move that should avert Presi...
Updated 1100
Polls point to Labour victory as surveys differ on margin
Two major election surveys published in the final days of the campaign both place the Labour Party ahead of t...
Updated 1020
Food and Housing Costs Push Malta Inflation Up to 2.8%: Malta’s annual inflation rate edged up to 2.8% in April from 2.7% in March, according to the National Statistics O...
Former Polish president and anti-communist icon Lech Wałęsa was among the first recipients of the newly established European Order of Merit, receiving the EU’s highest distinction during...
The European Parliament has thrown its weight behind demands for a bigger long-term EU budget, approving its position for negotiations on the bloc’s next seven-year financial framework f...
Oil prices pulled back from recent highs on Wednesday, erasing some of the previous day's 4% gain as traders sought clarity on complex negotiations between Iran and the U.S. after rene...
Fears of major flight disruptions across Europe this summer have eased significantly, as airlines and energy officials say jet fuel supplies are now expected to remain stable despite ong...
“A company’s workplace culture praised by management, needs to be taken with caution. But when the recognition comes directly from employees, that carries greater weight,” says JONATHAN ...
EU lawmakers have approved new rules aimed at strengthening how failing banks are managed, extending protections to a wider range of institutions and depositors across the bloc.
The p...
GO plc, Malta's leading integrated communications and digital services group, today held its Annual General Meeting, where shareholders were presented with a landmark set of financial re...
Pharmaceutical and medical devices company Vivian has reported a 28.8% reduction in energy consumption over the past year, significantly surpassing the 5% benchmark required to qualify f...
The United States launched what it described as “self-defense” strikes against Iranian military targets after three US Navy destroyers came under attack in the Strait of Hormuz, sharply ...
French shipping giant CMA CGM reported that its vessel San Antonio was attacked while passing through the Strait of Hormuz, leaving several crew members injured and the ship damaged. The...
Thousands of Cuban security personnel have begun leaving Caracas after nearly two decades in Venezuela, as Washington ramps up efforts to dismantle the long standing alliance between the...
María Corina Machado is a prominent figure in Venezuela’s opposition. She has reported that one of her closest associates, Juan Pablo Guanipa, was abducted. This occurred mere hours afte...
President Volodymyr Zelenskiy said that Russia was seeking to draw Belarus deeper into its war in Ukraine and was weighing plans to attack Ukraine's north or a NATO country from Belarus...
Ukraine’s anti-corruption authorities have named former presidential chief of staff Andrii Yermak as a suspect in a major graft investigation involving alleged money laundering.
Accor...
