=Coca-Cola (KO) reported earnings on Tue 21 July 20 (b/o)

Coca-Cola beats by $0.01, reports revs in-line; not providing FY20 guidance

Reports Q2 (Jun) earnings of $0.42 per share, $0.01 better than the S&P Capital IQ Consensus of $0.41; revenues fell 28.0% year/year to $7.2 bln vs the $7.26 bln S&P Capital IQ Consensus.

Global Unit Case Volume Declined 16%.

As the coronavirus pandemic continues to evolve, there is uncertainty around its ultimate impact; therefore, the company's full year financial and operating results cannot be reasonably estimated at this time. For comparable net revenues (non-GAAP), the company expects a 3% to 4% currency headwind based on the current rates and including the impact of hedged positions. Q3 Comparable net revenues (non-GAAP) are expected to include a 3% to 4% currency headwind based on the current rates and including the impact of hedged positions.

Market share: The company lost value share in total nonalcoholic ready-to-drink (NARTD) beverages as an underlying share gain was more than offset by negative channel mix due to pressure in away-from-home channels, where the company has a strong share position.