While the Coca-Cola Co. is protected against rising commodity costs for now, it could raise prices next year or late this year as part of a multi-prong approach to manage inflation of key ingredients and packaging materials, according to executives.
Chief Financial Officer John Murphy affirmed during the company’s first quarter earnings report April 19 that it expects a
“relatively benign impact in 2021” from rising commodity costs due to its hedged positions, but he warned inflation will be more of a headwind in late fiscal 2021, early 2022.
He explained that Coca-Cola Co. is
“closely monitoring upward pressure in some inputs such as high-fructose corn syrup, PET, metals and other packaging materials as they impact us, as well as our bottling partners.”
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Cokeâs organic revenue, which excludes the impact of currency or acquisitions, climbed 6% in the quarter ended April 2, according to a statement Monday. That topped the estimated 0.5% growth analysts had been expecting, according to forecasts compiled by Bloomberg.
The results hint at a potential rebound as consumers worldwide emerge from more than a year of isolation, a process that is happening at different rates in different countries. The company is âencouraged by improvements in our business, especially in markets where vaccine availability is increasing and economies are opening up,â Chief Executive Officer James Quincey said in the statement.
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