Coca-Cola falls after reiterated annual forecasts, Q3 results beat
Updates
** Shares of Coca-Cola KO.N fall as much as ~4%to $66.58
** Co reiterates annual forecasts afterposting Q3 adjusted EPS of 77 cents vs estimates of 74 cents - data compiled by LSEG
** Reports Q3 adjusted operating margin of 30.7% vs 29.7% a year ago
** "We think investors would have also liked to have seen better gross margin performance relative to an SG&A driven beat," JP Morgan analyst Andrea Teixeira says
** Brokerage says organic sales growth and profit beat in Q3 was of "lower quality"
** Co expects annual organic sales at high-end of its previous forecast; reiteratesits forecast for annual adjusted profit of 5% to 6% growth despite price hikes
** Sees fiscal 2024 organic sales growth of about10%, compared with prior view of9% to 10%.
** Up to last close, stock up 17.85% YTD
Reporting by Sriparna Roy and Neil J Kanatt in Bengaluru
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