Coca-Cola Co. KO, +0.07% said the coronavirus that broke out in Wuhan, China late last year and has sickened thousands of people has created delays in the production and export of ingredients used in non-nutritive sweeteners. In its 10-K annual report filing with the Securities and Exchange Commission, the drinks giant said it has initiated contingency plans and does not expect a short-term impact from the delays. "However, we may see tighter supplies of some of these ingredients in the longer term should production or export operations in China deteriorate," the company said. It reiterated comments made last week that the virus will negatively impact unit case volume and financial results for the first quarter. "At this time, we do not expect this disruption to have a significant impact on our full year 2020 unit case volume or financial results," said the filing. Coca-Cola shares were flat in early trade, but have gained 30% in the last 12 months, while the Dow Jones Industrial Average DJIA, -1.41%, which counts it as a member, has gained 8% and the S&P 500 SPX, -1.49% has gained 15%.
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February 25, 2020 at 09:33PM
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Coca-Cola says coronavirus has caused delays in export from China of ingredients used in sweeteners - MarketWatch
"ingredients" - Google News
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