Coca-Cola Co. (KO) is still optimistic about the future.
The Atlanta-based company said ahead of its Investor Day on Thursday, Nov. 16, that it has reaffirmed its full-year guidance for the rest of 2017 as well as its previously disclosed full-year 2018 forecast.
Coca-Cola reiterated its long-term targets of mid-single-digit organic revenue growth and high-single-digit comparable currency neutral earnings per share growth. Coke is now looking to tally operating income growth of between 6% and 8% long term.
The world's largest total beverage company announced a new long-term target of 95% to 100% for its adjusted free cash flow conversion ratio. Coca-Cola has also set a target for operating margins of at least 35% by 2020.
In the near term, Coke expects 2018 capital expenditures of $1.9 billion. Looking more long term, Coca-Cola sees capex totaling 4.5% to 5% of net revenue.
Coca-Cola reported third quarter earnings on Oct. 25, when both sales and revenue topped analysts' expectations. The company said at that time it expected earnings per share for the rest of 2017 to remain flat to declining 2% from last year's $1.91 full-year earnings.
Coca-Cola stock finished trading down 1.3% on Wednesday, Nov. 15, to $46.81. Shares have gained about 13% since the start of the year.
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