Coca-Cola Europacific Partners Trims Guidance After Revenue Growth Over Summer Quarter

Dow Jones

Nov 05, 2024

By Elena Vardon

Coca-Cola Europacific Partners' trimmed its full-year guidance and said revenue grew in the third quarter due to the European soccer championships and the Olympics.

The bottling company said revenue for the quarter ended Sep. 27 rose 11.5% on a comparable basis to 5.36 billion euros ($5.83 billion). Comparable volumes for the period rose 19% to 1.01 billion unit cases, it said.

The group saw solid gains in revenue per unit case thanks to its revenue growth management, headline price and promotion strategy, it said Tuesday.

"In the third quarter, we delivered top line growth despite mixed summer weather and softer consumer demand in away-from-home in Europe," Chief Executive Damian Gammell said.

The company now expects comparable revenue to grow around 3.5% for 2024, against around 4% previously, due to two extra selling days in the fourth quarter. Cost of sales per unit case is expected to grow 2.5%, compared with 3% before.

It reiterated the rest of its guidance for the year, including comparable operating profit growth of 7% and free cash flow of at least 1.7 billion euros.

The board declared a second-half interim dividend of 1.23 euros a share, bringing the full-year payout to 1.97 euros a share, 7% higher than 2023.

Shares in London traded flat at market open at 6,000 pence.

Write to Elena Vardon at elena.vardon@wsj.com

(END) Dow Jones Newswires

November 05, 2024 03:33 ET (08:33 GMT)

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Cost of sales per unit case is expected to grow 2.5%, compared with 3% before. \n</p>\n<p>\n  It reiterated the rest of its guidance for the year, including comparable operating profit growth of 7% and free cash flow of at least 1.7 billion euros. \n</p>\n<p>\n  The board declared a second-half interim dividend of 1.23 euros a share, bringing the full-year payout to 1.97 euros a share, 7% higher than 2023. \n</p>\n<p>\n  Shares in London traded flat at market open at 6,000 pence. \n</p>\n<pre>\n \n</pre>\n<p>\n  Write to Elena Vardon at elena.vardon@wsj.com \n</p>\n<pre>\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  November 05, 2024 03:33 ET (08:33 GMT)\n</p>\n<p>\n  Copyright (c) 2024 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"KO","symbol_name":"可口可乐","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2481525498","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2481525498","pubTimestamp":1730795580,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"Coca-Cola Europacific Partners' trimmed its full-year guidance and said revenue grew in the third quarter due to the European soccer championships and the Olympics.The bottling company said revenue for the quarter ended Sep. 27 rose 11.5% on a comparable basis to 5.36 billion euros . Comparable volumes for the period rose 19% to 1.01 billion unit cases, it said.The group saw solid gains in revenue per unit case thanks to its revenue growth management, headline price and promotion strategy, it said Tuesday.\"In the third quarter, we delivered top line growth despite mixed summer weather and softer consumer demand in away-from-home in Europe,\" Chief Executive Damian Gammell said.The company now expects comparable revenue to grow around 3.5% for 2024, against around 4% previously, due to two extra selling days in the fourth quarter. Cost of sales per unit case is expected to grow 2.5%, compared with 3% before.It reiterated the rest of its guidance for the year, including comparable operati","collect":0,"end_time":0,"defaultTopTitle":"","property":["earning"],"viewcount":null,"language":"en","relate_stocks":{"KO":"可口可乐","CCEP":"可口可乐欧洲合伙"},"translate_title":"可口可乐欧洲太平洋合作伙伴在夏季季度收入增长后下调指引","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CCEP":1,"KO":0.6},"content_text":"By Elena Vardon \n\n\n \n\n\n  Coca-Cola Europacific Partners' trimmed its full-year guidance and said revenue grew in the third quarter due to the European soccer championships and the Olympics. \n\n\n  The bottling company said revenue for the quarter ended Sep. 27 rose 11.5% on a comparable basis to 5.36 billion euros ($5.83 billion). Comparable volumes for the period rose 19% to 1.01 billion unit cases, it said. \n\n\n  The group saw solid gains in revenue per unit case thanks to its revenue growth management, headline price and promotion strategy, it said Tuesday. \n\n\n  \"In the third quarter, we delivered top line growth despite mixed summer weather and softer consumer demand in away-from-home in Europe,\" Chief Executive Damian Gammell said. \n\n\n  The company now expects comparable revenue to grow around 3.5% for 2024, against around 4% previously, due to two extra selling days in the fourth quarter. Cost of sales per unit case is expected to grow 2.5%, compared with 3% before. \n\n\n  It reiterated the rest of its guidance for the year, including comparable operating profit growth of 7% and free cash flow of at least 1.7 billion euros. \n\n\n  The board declared a second-half interim dividend of 1.23 euros a share, bringing the full-year payout to 1.97 euros a share, 7% higher than 2023. \n\n\n  Shares in London traded flat at market open at 6,000 pence. \n\n\n \n\n\n  Write to Elena Vardon at elena.vardon@wsj.com \n\n\n \n\n\n  (END) Dow Jones Newswires\n\n\n  November 05, 2024 03:33 ET (08:33 GMT)\n\n\n  Copyright (c) 2024 Dow Jones & Company, Inc.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":true,"code":"91000000","status":"200"}}}