Investing.com - Coca-Cola (NYSE:KO) shares dipped in premarket trade on Thursday, after the company reported fourth-quarter earnings that were in line with expectations as results were impacted by bottle refranchising and currency headwinds.
The beverage and snack giant reported earnings per share of $0.43, matching estimates.
Revenue totaled $7.1 billion, roughly in line with forecasts of $7.06 billion.
Organic revenue, or sales from its core beverage business, rose 5%, led by volume growth for Diet Coke and Coca-Cola Zero Sugar.
"Our results demonstrate progress in our transformation as a consumer-centric, total beverage company and the power of a more strategically aligned system," said CEO James Quincey."
Coca-Cola's stock fell 1.7% in premarket trade to $48.90.
Coca-Cola follows other major Consumer/Non-Cyclical sector earnings this month
On February 7, Philip Morris reported fourth quarter EPS of $1.25 on revenue of $7.5B, compared to forecasts of EPS of $1.17 on revenue of $7.39B.
Altria earnings matched analyst's expectations on January 31, with fourth quarter EPS of $0.95 on revenue of $4.79B. Investing.com analysts expected EPS of $0.95 on revenue of $4.81B
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