The Coca-Cola Company (NYSE:KO) shares traded modestly lower as currency headwinds and refranchising of its bottling operations saw its first quarter revenues fall year-over-year.
Revenue was down 2% from the year-ago quarter at $11.1 billion, just below Wall Street estimates of $11.4 billion.
Earnings per share of $0.73 beat estimates of $0.72.
Organic sales growth was 6% year-over-year, above the expected 4.7%.
“Our performance this quarter once again demonstrates the effectiveness of our all-weather strategy,” Coca-Cola Company CEO James Quincey said in a statement.
“Despite some pressure in key developed markets, the power of our global footprint allowed us to successfully navigate a complex external environment.”
Coca-Cola continues to expect to deliver organic revenue growth of 5% to 6% and comparable EPS growth of 2% to 3% versus $2.88 last year for 2025.
'Solid start' - Jefferies
Analysts at Jefferies, who have a ‘Buy’ rating on Coca-Cola noted the report as a “solid start to the year” with organic sales growth and EPS both topping expectations.
They noted that the company reiterating its 2025 guidance at the high end is “also a win.”
“The majority of others are revising lower. Coke should increasingly stand out versus peers,” they wrote.
Coca-Cola shares traded down 0.3% at $71.58 shortly after US markets opened on Tuesday.