Coca-Cola Expects It Won't Meet Fiscal 2020 Guidance
Coca-Cola's (NYSE: KO) stock wasn't particularly fizzy on Friday on the back of news that the company won't hit its guidance for this fiscal year. The consumer goods giant revealed this in a regulatory filing. Not surprisingly, the culprit is the SARS-CoV-2 coronavirus that causes the potentially fatal COVID-19 disease.
For the entirety of its current fiscal 2020, Coca-Cola had previously expected it see a roughly 5% year-over-year increase in non-GAAP (adjusted) revenue. Adjusted per-share net income was anticipated to rise by 7% to around $2.25. The company had forecast that its free cash flow would come in around $8 billion.
Image source: Coca-Cola.
Source Fool.com
