Given the current worries — inflation, Covid, interest rates, Ukraine, stock volatility — consumers are willing to pay a premium when seeking comfort in the form of sweet treats like Coca-Cola. And investors are seeking a safe haven in the company's stock.
Coca-Cola reported first quarter earnings and sales Monday that easily topped forecasts: Sales surged 16% to $10.5 billion, beating Wall Street's expectations of $9.8 billion. Profits of $2.8 billion, or 64 cents a share, rose 24% from a year ago — surpassing consensus estimates of 58 cents a share. Price hikes were a major driver of the solid numbers. Coca-Cola said its price/mix, a measure of how much it charges customers, was up 7% globally and 11% in North America.
This is how Coca-Cola comes up with new flavors 02:45Pressure on commodity prices and wages will continue, Murphy said. But he added the company has the flexibility to raise prices, especially as it introduces more premium products.Coca-Cola recognizes, though, that some consumers are feeling the pinch from higher prices more than others.
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