Coca-Cola (KO) Q2 2023 earnings

Coca-Cola (KO) Q2 2023 earnings

Bottles of Coca Cola displayed at a grocery store on April 24, 2023 in San Rafael, California.

Justin Sullivan | Getty Images

Coca-Cola is expected to report its second-quarter earnings before the bell Wednesday.

Here’s what Wall Street analysts surveyed by Refinitiv are expecting the company to report:

  • Earnings per share: 72 cents
  • Revenue: $11.75 billion

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Like many other food and beverage companies, Coke has been raising prices on products from its namesake soda to Powerade. So far, consumers have been willing to pay more for their favorite drinks, but investors will be watching whether another round of price hikes in the first quarter hurt demand.

After Coke’s rival PepsiCo raised its full-year outlook earlier this month for the second consecutive quarter, investors now expect the Atlanta-based beverage giant to follow suit. Coke is projecting organic revenue growth of 7% to 8% and comparable earnings per share growth of 4% to 5% for 2023.

Coke’s stock has fallen 2% this year, trailing Pepsi shares’ 6% growth in the same period. But Coke’s $270 billion market value still narrowly leads Pepsi’s $263 billion market cap.

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