For the second quarter, analysts are expecting Coca-Cola (NYSE:KO) to report earnings of 72 cents a share from revenue of $11.7 billion, according to FactSet. That would be a jump from earnings of 70 cents a share and revenue of $11.3 billion in the second quarter of 2022.
“Since KO reported its strong 1Q, we’ve seen several positive read throughs indicating momentum continued into 2Q,” Evercore ISI analyst Robert Ottenstein wrote in a research note last week. “First, PEP delivered a robust 2Q, with pricing-led upside.”
He rates Coca-Cola stock at Outperform with a target of $70 for the price.
Coca-Cola’s average selling prices increased 11% during its first quarter. The question is whether consumers have remained willing and able to pay up for Coke and the other beverages the company sells.