Coca-Cola (KO) reports third-quarter earnings on Oct. 27, and its stock is up about 33% so far this year after it raised full-year guidance in July. In the second quarter, revenue rose 7% to $13.4 billion, global unit case volume grew 5%, and adjusted EPS reached $0.97, up 11%. The company used the FIFA World Cup to promote its brands in more than 180 markets, contributing to 5% volume growth for its flagship brand and 8% for Powerade. Its updated outlook calls for 5% organic revenue growth, 9% to 10% adjusted EPS growth (up from 8% to 9%), and $12.4 billion in projected free cash flow. The author argues that its global distribution network and brand portfolio could support further growth.
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