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Home / Business / One of Coca-Cola's top execs just called the US dollar

One of Coca-Cola's top execs just called the US dollar



<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Coca-Cola's new finance manager & nbsp; John Murphy & nbsp; has just channeled his inner currency deal for a somewhat contraindic call to the US dollar. "Data-reactid =" 15 "> Coca-Cola's new finance manager John Murphy has just channeled his internal currency deal for a some counter-call to the US dollar.

"We believe that the dollar is heading towards the end of a strong cycle, and therefore we believe we are in a benign environment over the next year, 1.5 years," Murphy told Wall Street analysts at Coca-Cola's second-quarter revenue on Tuesday

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = "Coca-Cola's ( KO ) investors are hoping that Murphy has this conversation nailed. "data-reactid =" 17 "> Coca-Cola & # 39; s (KO) investors hope Murphy has this conversation nailed.

<p class =" canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8 em) – sm "type =" text "content =" The drinking giant – which is exposed to around 70 global currencies – so earnings per share in the second quarter hit by 9% due to headwinds in currency . These headwinds are primarily the result of the ongoing strength of the US dollar, which has pulled up President Donald Trump's run in recent months. The US dollar has been on a march higher for the better part of the past year and damaged the top and bottom lines of multinational corporations such as Coca-Cola, Caterpillar ( CAT ) and Kimberly-Clark (). KMB ). "data-reactid =" 18 "> Drinking giant – which is exposed to around 70 global currencies – so earnings per share in the second quarter hit by 9% due to headwinds. These headwinds are primarily the result of the ongoing strength of the US The dollar, which has pulled up President Donald Trump's earmark in recent months, has been on a march higher for the better part of the past year and has damaged the top and bottom lines of multinational companies such as Coca-Cola, Caterpillar (CAT) and Kimberly-Clark (KMB).

A strong US dollar tends to reduce the value of foreign sales and profits for multinational corporations, with US dollars increasing by about 3.2% alone over the past year.

Currencies In emerging markets such as Brazil and India, too, has been particularly unstable.

Election headwind

Coke expects the US dollar's strength to hurt third quarter revenue by about 6%. y then sees the impact slow down in the fourth quarter and into 2020, allowing investors to hope the company's sales and profits will get a nice boost.

Despite headwinds in the global currency, Coca-Cola Wall Street blew away with second quarter results. The company continues to control costs, increase prices and release new products. And it turned out in the quarter.

Coca-Cola's adjusted earnings per share came to 63 cents, higher than analysts' forecasts for 61 cents per share. Total revenue rose 6% to $ 10 billion, in line with forecasts.

Organic revenue growth, a key measure for Coke closely monitoring Wall Street, rose 6%. Analysts had expected growth of 4%.

<p class = "canvas-atom canvas-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Brian Sozzi is editor of and co-host for The First Trade by Yahoo Finance Follow him on Twitter [19659010] @BrianSozzi "data-reactid =" 26 "> Brian Sozzi is the editor for large and well-known in The First Trade on Yahoo Finance. Follow him on Twitter @BrianSozzi

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<p class = "teacher-atom teacher-text Mb (1.0em) Mb (0) – sm Mt (0.8em) – sm" type = "text" content = " Read the latest financial and business news from Yahoo Finance "data-reactid =" 40 "> Read the latest economic and business news from Yahoo Finance

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