Coca-Cola increased third-quarter revenue by 7 per cent to 13.4 billion dollars, with global unit case volume up 5 per cent. The company lifted its annual comparable earnings-per-share growth outlook to at least 11 per cent and its free-cash-flow target to at least 13 billion dollars. Those annual figures remain management expectations.
Coca-Cola reported a 7 per cent increase in third-quarter revenue to 13.4 billion dollars. Zacks Equity Research also reported volume growth and the raised annual outlook. Global unit case volume increased 5 per cent. Organic revenue, which adjusts for currency and acquisition effects, grew 7 per cent, while price and mix rose 1 per cent. These measures track different components of sales performance.[1], [2]
India, China, Mexico and Brazil led volume growth, while North American volume was broadly unchanged. Concentrate sales grew two points faster than unit case volume with shipment timing differing between the measures. Sales to bottling partners and finished-beverage volumes therefore increased at different rates. Coca-Cola Zero Sugar volume rose 16 per cent, water grew 8 per cent and total sparkling soft drinks volume increased 5 per cent.[1]
Comparable earnings per share reached 0.91 dollars. Coca-Cola raised its annual growth outlook for that measure from 9–10 per cent to at least 11 per cent. Expected free cash flow increased from approximately 12.4 billion dollars to at least 13 billion dollars, assuming operating cash flow of at least 15.2 billion dollars and capital expenditure of about 2.2 billion dollars. These remain forecasts rather than completed annual results.[1]
