Coca-Cola: does not expect to achieve full-year guidance
(CercleFinance.com) - As COVID-19 continues to spread and hit markets, Coca-Cola does not expect to achieve its full-year guidance, as previously provided, the US soft drinks giant said on Friday.
In a statement, the company said initiatives such as orders or recommendations not to eat at restaurants, the cancellation of major sporting and entertainment events, and a major reduction in travel will have a negative impact on its full-year results.
Due to the speed with which the COVID-19 situation is developing, the negative impact on its financial and operating performance could even be "material," it added.
At this stage, Coca-Cola said it does not foresee any near-term disruptions in production.
The Coca-Cola share is currently down 1% on the New York Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.
In a statement, the company said initiatives such as orders or recommendations not to eat at restaurants, the cancellation of major sporting and entertainment events, and a major reduction in travel will have a negative impact on its full-year results.
Due to the speed with which the COVID-19 situation is developing, the negative impact on its financial and operating performance could even be "material," it added.
At this stage, Coca-Cola said it does not foresee any near-term disruptions in production.
The Coca-Cola share is currently down 1% on the New York Stock Exchange.
Copyright (c) 2020 CercleFinance.com. All rights reserved.