Coca-Cola reported a challenging but resilient third quarter, demonstrating adaptability by leveraging its franchise model and diverse portfolio to navigate a difficult environment and strengthen its market position.
Net revenues grew 5% to $12.5 billion, with organic revenues (non-GAAP) growing 6%, driven by 6% growth in price/mix.
positiveOperating income grew 59% to $3.98 billion, with comparable currency neutral operating income (non-GAAP) growing 15% due to organic revenue growth and cost management.
positiveDiluted EPS grew 30% to $0.86, and comparable EPS (non-GAAP) grew 6% to $0.82.
positiveThe company gained value share in total nonalcoholic ready-to-drink (NARTD) beverages.
positiveConcentrate sales were 1 point behind unit case volume due to timing of shipments, impacting revenue recognition.
attentionComparable operating margin (non-GAAP) expansion was partially offset by an increase in marketing investments and currency headwinds.
attentionComparable EPS (non-GAAP) growth was impacted by a 6-point currency headwind.
negativeUnit case volume was flat in North America and Latin America, indicating a lack of organic volume growth in key markets.
attentionMargin expansion indicates improving profitability and operational efficiency. Measured in basis points (bps): 100 bps = 1.0%.
Forward-looking guidance is subject to change and does not constitute a guarantee. Actual results may differ materially from these estimates.
Special items are non-recurring events that may distort period-over-period comparisons. Analysts typically adjust for these when calculating normalized earnings.
The company is staying flexible and adapting plans to invest for growth in a challenging environment.
Offering choice across the total beverage portfolio and leveraging the franchise model are key to gaining ground and strengthening leadership.
The company is confident in delivering on 2025 guidance and achieving longer-term objectives.
Commentary excerpts from earnings call transcripts provide management's perspective on performance, strategy, and outlook. Always review full transcripts for complete context.
Operational metrics provide insight into business drivers and customer engagement beyond traditional financial measures.