Coca-Cola CEO James Quincey Doesn't See Much Impact From Weight-Loss Drugs, Highlights Calorie-Conscious Strategy
Portfolio Pulse from Adam Eckert
Coca-Cola Co (NYSE:KO) reported strong Q3 results, beating analyst estimates, and raised its full-year outlook. CEO James Quincey dismissed concerns about the impact of weight-loss drugs on the company's sales, highlighting its calorie-conscious strategy and the availability of zero-calorie options in its product range. Despite year-to-date shares being down about 12.5%, partially due to concerns about the impacts of weight-loss drugs, the stock was up 2.59% following the announcement.
October 24, 2023 | 5:40 pm
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Coca-Cola's strong Q3 results and raised full-year outlook, along with the CEO's confidence in the company's strategy against the impact of weight-loss drugs, led to a 2.59% increase in the stock price.
Coca-Cola's strong Q3 results and raised full-year outlook indicate a positive financial performance. The CEO's dismissal of concerns about the impact of weight-loss drugs on sales, citing the company's calorie-conscious strategy, provides further confidence in the company's future performance. This led to a positive reaction in the stock market, with the stock price increasing by 2.59%.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100