The Coca-Cola Company KO has a formidable portfolio of globally recognized brands, both carbonated like Coke and Fanta as well as non-carbonated like Minute Maid and Powerade.

Coca-Cola commands a strong market position due to its global reach, strong brand power, expanding international presence, a solid global bottling network and an impressive cash position. 2015 was a “transition year” for Coca-Cola when it has implemented changes to create a new operating model. It undertook aggressive cost-cutting and several initiatives to drive faster growth in 2015.The company is also re-franchising the majority of its company-owned North American bottling territories to create a more efficient system.

Investors should note the recent earnings estimate revisions for KO have been mostly downwards. However, KO does have a superb history in earnings season. KO has delivered positive earnings surprise for four straight, making for an average positive earnings surprise of 5.85%.

Currently, KO has a Zacks Rank #3 (Hold), but that could definitely change following Coca-Cola’s earnings report which was just released. We have highlighted some of the key stats from this just-revealed announcement below:

Earnings: KO beat on earnings. Our consensus earnings estimate called for EPS of 37 cents/share, and the company reported EPS of 38 cents instead. Investors should note that these figures take out stock option expenses.

Revenues: KO reported revenues of $10 billion. This beat our consensus estimate of $9.86 billion.

Key Stats to Note: The cola giant witnessed 3% volume growth, same as the previous quarter. Coca-Cola said it will complete all remaining re-franchising of North American bottling operations by the end of 2017, much earlier than 2020 as previously expected. The company also said it has signed non-binding letter of intent to refranchise company-owned bottling operations in China to its existing partners.

Stock Price: Shares declined in pre-market trading.

Check back later for our full write up on this KO earnings report later!

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