(Bloomberg) -- Coca-Cola Co. reported quarterly sales and profit that exceeded Wall Street’s expectations on Wednesday and raised its full-year outlook, sending shares higher in early trading. 

• Third-quarter organic revenue, which excludes the impact of items like currency and acquisitions, was up 14%, above analysts’ average estimate. Adjusted earnings of 65 cents a share outpaced expectations.
• The owner of the Minute Maid, Dasani and Schweppes brands sees organic revenue growth in a range of 13% to 14% for the full year, an increase to the bottom end of its guidance issued in July.
• See more details.

Key Insights

• Coca-Cola said unit case volume in the period was ahead of that measure in the 2019 quarter, indicating that consumers’ return to restaurants, stadiums and amusement parks is bolstering results.
• The key gauge of comparable operating margin narrowed slightly to 30%. The company attributed this to a significant increase in marketing investments compared with the prior year, partially offset by strong revenue growth.
• Coca-Cola said it expects elevated commodity inflation to continue into 2022. Investors will be listening closely for more projections from the world’s largest beverage company during its quarterly call with analysts.

Market Reaction

• The shares rose 3.4% in early trading at 7:19 a.m. in New York. Coca-Cola stock dipped 0.7% this year through Tuesday’s close, compared with a 22% rise for the S&P 500 index.

Get More

• Follow the TOPLive blog.
• Read the statement.
• See Coca-Cola estimates.

©2021 Bloomberg L.P.