Coca-Cola CEO on Q1 earnings: ‘aggregate demand is there’

Coca-Cola Co (NYSE: KO) is trading slightly up this morning after the beverage giant reported market-beating results for its fiscal first quarter.

Coca-Cola stock up on future guidance

Shares are in the green also because the company reiterated its outlook.

Coca-Cola continues to see up to an 8.0% growth in its organic revenue this year on a 4.0% to 5.0% increase in adjusted per-share earnings. On CNBC’s “Squawk on the Street”, CEO James Quincey said:

For the year, Coca-Cola stock is up less than 3.0% only.

Coca-Cola Q1 earnings snapshot

• Earned $3.11 billion versus the year-ago $2.78 billion
• Per-share earnings also climbed from 64 cents to 72 cents
• Adjusted EPS printed at 68 cents as per the press release
• Revenue increased 5.0% year-on-year to $11 billion
• Consensus was 65 cents a share on $10.80 billion revenue

What else was noteworthy?

Coca-Cola attributed the growth in revenue partially to an 11% increase in price and mix. Unit case volume in its recent quarter was up 3.0%. CEO Quincey added:

Wall Street currently has a consensus “overweight” rating on Coca-Cola stock.