The Coca-Cola Company Updates Second Quarter Expected Net Impact of Acquisitions, Divestitures & Other Structural Items Ahead...
June 16 2016 - 6:00AM
Business Wire
As previously announced, James Quincey, President and Chief
Operating Officer of The Coca-Cola Company, will present at the
Deutsche Bank Global Consumer Conference today at approximately 2
p.m. CET (8 a.m. EDT).
In connection with the presentation, the Company is updating its
expectations regarding the net impact of acquisitions, divestitures
and other structural items on its second quarter results. These
changes are driven by the completion of the Coca-Cola European
Partners plc combination on May 28, 2016, approximately one month
prior to previous expectations. The Company now expects these items
to be a 5 to 6 point headwind on net revenues and a 4 to 5 point
headwind on income before taxes in the second quarter.
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 and more than 3,800 beverage choices. Led by
Coca-Cola, one of the world's most valuable and recognizable
brands, our company’s portfolio features 20 billion-dollar brands,
18 of which are available in reduced-, low- or no-calorie options.
Our billion-dollar brands include Diet Coke, Coca-Cola Zero, Fanta,
Sprite, Dasani, vitaminwater, Powerade, Minute Maid, Simply, Del
Valle, Georgia and Gold Peak. Through the world's largest beverage
distribution system, we are the No. 1 provider of both sparkling
and still beverages. More than 1.9 billion servings of our
beverages are enjoyed by consumers in more than 200 countries each
day. With an enduring commitment to building sustainable
communities, our company is focused on initiatives that reduce our
environmental footprint, 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.cocacolablog.com or find us on LinkedIn at
www.linkedin.com/company/the-coca-colacompany.
Forward-Looking
Statements
This presentation 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; an inability to be
successful in our innovation activities; 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
one or more 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 marketing or sale 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; failure to
adequately protect, or disputes relating to, trademarks, formulae
and other intellectual property rights; 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 relationship with 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; an inability to attract or retain a
highly skilled workforce; 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, 2015, and our
subsequently filed Quarterly Report 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/20160616005219/en/
The Coca-Cola CompanyInvestorsTim Leveridge,
+01-404-676-7563orMediaKent Landers, +01-404-676-2683
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