Coca-Cola to hold first investor day since 2009
Coca-Cola reiterated its guidance on Thursday as it updated long-term goals ahead of its first investor day event in eight years.
Coca-Cola Co.
$58.91
11:09 18/04/24
Dow Jones I.A.
37,775.38
04:30 15/10/20
Coca-Cola said it was targeting comparable currency operating income growth of 6% to 8%, which it hoped to raise to as much as 35% by the year 2020, as well as introducing a long-term free cash flow conversion ratio of 95% to 100%.
In the coming financial year, Coca-Cola expected capital expenditures of $1.9bn throughout 2018, and over the long-term hoped to bring capex spending to somewhere in the vicinity of 4.5% to 5% of revenue.
Earlier in November, Coca-Cola fizzed higher as it reported an "excellent" revenue performance in the third quarter, with foreign exchange-neutral revenue growth of 6.0%.
As of 1620 GMT, shares had grown 0.12% to $46.87 each.