Coca-Cola raises outlook amid revenue growth
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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.Which regions experienced a decline in revenue for Coca-Cola this quarter?
Which regions experienced a decline in revenue for Coca-Cola this quarter?
Revenues in the Asia Pacific region saw a decline of 2 percent during this period. All other major markets mentioned, including Europe, Latin America, and North America, reported an increase in net revenues.
Q.What is Coca-Cola's forecast for organic revenue growth for the full year?
What is Coca-Cola's forecast for organic revenue growth for the full year?
The company anticipates achieving organic revenue growth of between 10 and 11 percent for the full year. This revised outlook follows a solid quarter of performance across most of its markets.
Q.How did Coca-Cola's global unit case volume perform, and what was the impact on operating income?
How did Coca-Cola's global unit case volume perform, and what was the impact on operating income?
Global unit case volume increased by 2 percent during the quarter. This growth contributed to a 6 percent rise in operating income, alongside an increase in earnings per share.
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