Coca-Cola raises outlook amid revenue growth
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The Coca-Cola Company has raised its full-year guidance after its net revenue expanded 8 percent to US$12 billion for the third quarter.
The US-headquartered company saw net revenues increase in most of its markets, including Europe, Middle East & Africa (10 percent), Latin America (24 percent), and North America (6 percent). Meanwhile, revenues in Asia Pacific declined 2 percent.
Revenues of global ventures and bottling investments were up 15 percent and 4 percent, respectively.
Global unit case rose 2 percent and operating income grew 6 percent, with earnings per share up 9 percent to $0.71.
“We delivered an overall solid quarter and are raising our full-year topline and bottom-line guidance in light of our year-to-date performance,” said James Quincey, chairman and CEO of The Coca-Cola Company.
“Our leading portfolio of brands, coupled with an aligned and motivated system, positions us to win in the marketplace today while also laying the groundwork for the long term.”
The company expects to deliver organic revenue growth of 10-11 percent. For comparable net revenues, it anticipates a 4 percent currency headwind based on the current rates and including the impact of hedged positions.
Questions & Answers
Q.What were the key financial results for Coca-Cola in the third quarter?
What were the key financial results for Coca-Cola in the third quarter?
Net revenue expanded 8 percent to US$12 billion, with operating income up 6 percent. Earnings per share increased by 9 percent to $0.71, contributing to an overall solid quarter.
Q.Which regions saw revenue increases and which saw a decline?
Which regions saw revenue increases and which saw a decline?
Revenues increased in Europe, Middle East & Africa (10 percent), Latin America (24 percent), and North America (6 percent). However, revenues in the Asia Pacific region declined by 2 percent.
Q.What is Coca-Cola's updated full-year expectation for organic revenue growth?
What is Coca-Cola's updated full-year expectation for organic revenue growth?
The company expects to deliver organic revenue growth of 10-11 percent for the full year. This revised outlook follows their strong performance year-to-date.
Q.How did global ventures and bottling investments perform in the third quarter?
How did global ventures and bottling investments perform in the third quarter?
Revenues from global ventures were up 15 percent, while bottling investments saw a 4 percent increase. This contributed to the overall positive financial results for the quarter.