Coca-Cola's Sales Rise in Second Quarter
July 23 2019 - 8:12AM
Dow Jones News
By Charlie McGee and Allison Prang
Coca-Cola Co. said quarterly sales rose, as the beverage giant
rolled out coffee, energy drinks and other products that move
beyond its namesake soft drinks.
Retail sales increased 6% in the second quarter, while the
company's sales volume rose 3%.
Sagging demand for sugary drinks has driven Coke's push to
diversify its offerings in recent years.
The company now expects organic revenue, which excludes currency
swings, acquisitions and divestitures, to increase by 5% in 2019,
instead of by about 4%. Coca-Cola also raised its guidance for
operating income on a currency neutral basis, and now expects it to
increase between 11% and 12%, instead of between 10% and 11%.
Organic revenue in the second quarter increased 6%. Coca-Cola's
$10 billion in sales during the second quarter was slightly higher
than expectations of $9.9 billion from a FactSet analyst
consensus.
Coca-Cola posted per-share earnings of 61 cents, up from 54
cents a year earlier. Adjusted earnings were 63 cents a share. The
FactSet consensus was 61 cents a share.
Coke has expanded into the coffee business, buying a British
coffee-shop chain Costa that operates thousands of cafes and
launching a coffee-infused version of its flagship soda in some
Asian markets.
It has also tried to revive sales in its home market with new
soda flavors, such as Orange Vanilla Coca-Cola.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 23, 2019 07:57 ET (11:57 GMT)
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