Coca-Cola Consolidated Stock Jumps on Strong Q1 Earnings and $3 Billion Buyback Plan
Friday, 10 May 2024, 14:49
Sparkling News
Coca-Cola Consolidated posted 1% revenue growth for Q1, driven by increasing sales in both sparkling and still drinks. Operating profit margin also rose to 13.5%, indicating improved profitability.
Shareholder Returns
Management's decision to repurchase $3 billion of company stock aims to enhance earnings per share. Although the buyback may impact earnings due to higher interest expenses, it reaffirms the company's shareholder-friendly approach.
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