By Paulo Trevisani
Coca-Cola Co. said Wednesday it expects a currency tailwind to help increase 2021 earnings, after favorable foreign exchange rates boosted second-quarter results.
Currency rates were responsible for five points of the second quarter’s 61% growth in adjusted earnings per share, the Atlanta-based beverage company said.
Over the second quarter, WSJ Dollar Index declined 0.7%.
Coca-Cola expects adjusted earnings growth of 13% to 15% this year, from $1.95 a share in 2020, including “a 2% to 3% currency tailwind based on the current rates and including the impact of hedged positions.”
Coca-Cola expects organic revenue growth of 12% to 14%, with a 1% to 2% boost from forex rates.
In the third quarter, the company expects adjusted earnings per share to include a 3% to 4% currency tailwind.
Write to Paulo Trevisani at [email protected]
(END) Dow Jones Newswires
07-21-21 0945ET
Read More: Coca-Cola Expects FX Tailwind to Boost Full-Year Earnings — Currency