Coca-Cola Sales Rise in Third Quarter
October 18 2019 - 8:01AM
Dow Jones News
By Patrick Thomas
Coca-Cola Co. said its sales rose in its latest quarter, helped
by higher demand for its namesake soft drinks.
Organic revenue, which excludes currency swings, acquisitions
and divestitures, increased 5% from the same time a year ago.
Global unit case volume grew 2% in the quarter.
The beverage giant on Friday reported a profit of $2.59 billion,
or 60 cents a share, compared with $1.89 billion, or 44 cents a
share, a year ago. The company posted an adjusted profit, which
excludes one-time costs, of 56 cents a share. Analysts polled by
FactSet were expecting earnings of 56 cents a share.
Net revenue rose about 8% to $9.5 billion from $8.78 billion a
year earlier. Analysts had expected $9.43 billion of revenue in the
quarter.
In North America, unit case volume grew 1%, driven by a 3%
increase in Coca-Cola and double-digit growth in Coke Zero
Sugar.
Sales of water, enhanced water and sports drinks increased 2% in
the quarter. Tea and coffee volume climbed 4%.
Coca-Cola also raised its guidance for operating income on a
currency neutral basis, and now expects it to increase between 12%
and 13%, instead of between 11% and 12%.
Write to Patrick Thomas at Patrick.Thomas@wsj.com
(END) Dow Jones Newswires
October 18, 2019 07:46 ET (11:46 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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