The Coca-Cola Company Updates Fourth Quarter Currency Expectations in Advance of the Morgan Stanley Global Consumer & Retail ...
November 17 2015 - 09:15AM
Business Wire
As previously announced, Kathy Waller, Executive Vice President
and Chief Financial Officer, and Sandy Douglas, Executive Vice
President and President Coca-Cola North America, will
present at the Morgan Stanley Global Consumer and Retail Conference
today at approximately 9:20 a.m. EST.
In connection with the presentation, The Coca-Cola Company is
updating its expectations regarding the impact currency will have
on its fourth quarter results. The Company now expects currency to
be a 7 point headwind on net revenues, a 13 point headwind on
operating income and an 11 point headwind on income before taxes in
the fourth quarter. The Company’s previously announced expectations
regarding fourth quarter comparable currency neutral EPS growth
remains unchanged.
The Company invites investors to listen to the live audiocast of
the presentation at its
website, www.coca-colacompany.com/investors. A replay in
downloadable MP3 format will also be available within 24 hours
after the audiocast on the Company’s website.
About The Coca-Cola
Company
The Coca-Cola Company (NYSE: KO) is the world's largest beverage
company, refreshing consumers with more than 500 sparkling and
still brands. Led by Coca-Cola, one of the world's most valuable
and recognizable brands, our Company's portfolio features 20
billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola
Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del
Valle. Globally, we are the No. 1 provider of sparkling beverages,
ready-to-drink coffees, and juices and juice drinks. Through the
world's largest beverage distribution system, consumers in more
than 200 countries enjoy our beverages at a rate of 1.9 billion
servings a day. With an enduring commitment to building sustainable
communities, our Company is focused on initiatives that reduce our
environmental footprint, support active, healthy living, create a
safe, inclusive work environment for our associates, and enhance
the economic development of the communities where we operate.
Together with our bottling partners, we rank among the world's top
10 private employers with more than 700,000 system associates. For
more information, visit Coca-Cola Journey at
www.coca-colacompany.com, follow us on Twitter at
twitter.com/CocaColaCo, visit our blog, Coca-Cola Unbottled, at
www.coca-colablog.com or find us on LinkedIn at
www.linkedin.com/company/the-coca-cola-company.
Forward-Looking
Statements
This press release may contain statements, estimates or
projections that constitute “forward-looking statements” as defined
under U.S. federal securities laws. Generally, the words “believe,”
“expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and
similar expressions identify forward-looking statements, which
generally are not historical in nature. Forward-looking statements
are subject to certain risks and uncertainties that could cause
actual results to differ materially from The Coca Cola Company’s
historical experience and our present expectations or projections.
These risks include, but are not limited to, obesity concerns;
water scarcity and poor quality; evolving consumer preferences;
increased competition and capabilities in the marketplace; product
safety and quality concerns; perceived negative health consequences
of certain ingredients, such as non-nutritive sweeteners and
biotechnology-derived substances, and of other substances present
in our beverage products or packaging materials; increased demand
for food products and decreased agricultural productivity; changes
in the retail landscape or the loss of key retail or foodservice
customers; an inability to expand operations in emerging and
developing markets; fluctuations in foreign currency exchange
rates; interest rate increases; an inability to maintain good
relationships with our bottling partners; a deterioration in our
bottling partners' financial condition; increases in income tax
rates, changes in income tax laws or unfavorable resolution of tax
matters; increased or new indirect taxes in the United States or in
other major markets; increased cost, disruption of supply or
shortage of energy or fuels; increased cost, disruption of supply
or shortage of ingredients, other raw materials or packaging
materials; changes in laws and regulations relating to beverage
containers and packaging; significant additional labeling or
warning requirements or limitations on the availability of our
products; an inability to protect our information systems against
service interruption, misappropriation of data or breaches of
security; unfavorable general economic conditions in the United
States; unfavorable economic and political conditions in
international markets; litigation or legal proceedings; adverse
weather conditions; climate change; damage to our brand image and
corporate reputation from negative publicity, even if unwarranted,
related to product safety or quality, human and workplace rights,
obesity or other issues; changes in, or failure to comply with, the
laws and regulations applicable to our products or our business
operations; changes in accounting standards; an inability to
achieve our overall long-term growth objectives; deterioration of
global credit market conditions; default by or failure of one or
more of our counterparty financial institutions; an inability to
timely implement our previously announced actions to reinvigorate
growth, or to realize the economic benefits we anticipate from
these actions; failure to realize a significant portion of the
anticipated benefits of our strategic relationships with Keurig
Green Mountain, Inc. and Monster Beverage Corporation; an inability
to renew collective bargaining agreements on satisfactory terms, or
we or our bottling partners experience strikes, work stoppages or
labor unrest; future impairment charges; multi-employer plan
withdrawal liabilities in the future; an inability to successfully
integrate and manage our Company-owned or -controlled bottling
operations; an inability to successfully manage the possible
negative consequences of our productivity initiatives; global or
regional catastrophic events; and other risks discussed in our
Company’s filings with the Securities and Exchange Commission
(SEC), including our Annual Report on Form 10-K for the year ended
December 31, 2014 and our subsequently filed Quarterly Reports on
Form 10-Q, which filings are available from the SEC. You should not
place undue reliance on forward-looking statements, which speak
only as of the date they are made. The Coca Cola Company undertakes
no obligation to publicly update or revise any forward-looking
statements.
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version on businesswire.com: http://www.businesswire.com/news/home/20151117006107/en/
The Coca-Cola CompanyInvestorsTim Leveridge,
+01-404-676-7563orMediaPetro Kacur, +01-404-676-2683
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