Coca-Cola Is Well-Positioned For Long-Term, Sustainable Growth, Says Goldman Sachs

On Wednesday, Coca-Cola Company (NYSE:KO) reported a third-quarter 2024 sales decline of 1% year-on-year to $11.9 billion, beating the analyst consensus estimate of $11.59 billion.

Unit case volume declined by 1%. Growth led by Brazil, the Philippines, and Japan was more than offset by declines in China, Mexico, and Turkey.

Goldman Sachs highlighted that despite somewhat tempered investor expectations for the third quarter, partly due to PepsiCo Inc‘s (NYSE:PEP) weaker-than-expected performance—Coca-Cola exceeded expectations again with strong results and an upbeat outlook.

Earlier this month, Pepsi’s reported mixed third-quarter results and lowered its 2024 organic revenue guidance.

The company reported a third-quarter net revenue decline of 0.6% year-over-year to $23.319 billion, ...