Coca-Cola raises annual sales forecast on global demand, higher prices

Coca-Cola has increased its annual organic sales forecast following strong first-quarter results, driven by robust demand in both U.S. and international markets for its premium beverages. The company's growth is particularly noticeable in the away-from-home sector in the U.S., and through product relaunches and reforms in regions like Europe and Latin America.

Despite a modest 1% rise in unit case volumes, the average selling price surged by 13%, contributing to a 2.5% increase in first-quarter net revenue to $11.23 billion, surpassing expectations. Coca-Cola now anticipates an 8% to 9% growth in organic sales for fiscal 2024, maintaining its earnings per share growth forecast at 4% to 5%.