Coca-Cola (KO) has reported strong third-quarter financial results but warned that demand for its beverages remains weak.
The Atlanta-based company reported earnings per share (EPS) of $0.82 U.S., which topped the $0.78 U.S. expected on Wall Street.
Revenue in the July through September period totaled $12.41 billion U.S., which was ahead of the $12.39 billion U.S. consensus forecast among analysts. Sales were up 5% from a year ago.
The company’s unit case volume rose 1%, a reversal from the previous quarter’s decline. But sales volumes in both Latin America and North America were flat for the quarter.
Coca-Cola reiterated its full-year guidance, saying it still expects earnings per share to rise 3% and revenue to grow 5% to 6% in 2025.
Management said that demand for its drinks remains weak amid signs of an economic slowdown in the U.S. and as consumers pullback on discretionary spending.
Executives have previously said that low-income consumers in the U.S. have been buying fewer of their products, although the company is trying to target them with more affordable options.
KO stock has risen 11% this year to trade at $68.44 U.S. per share.
