Coca-Cola’s net revenues for the third-quarter 2016 declined 7%, impacted by foreign currency and structural changes, the beverage giant has reported.
Meanwhile, organic revenues (Non-GAAP) grew 3% while operating margin expanded more than 50 basis points.
The company recorded EPS of $0.24 and Comparable EPS (Non-GAAP) of $0.49.
“I am pleased to report that we delivered results in line with our expectations,” said Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company. “We continued to see solid revenue results in our developed markets with 2% unit case volume growth and a continued focus on price realisation. The United States, Japan and Western Europe delivered standout performance underpinned by innovation and world-class marketing. Globally, we gained nonalcoholic ready-to-drink value share for the 37th consecutive quarter and are on track to deliver our financial commitments for the full year.”
“While our year-to-date reported net revenues declined 5%, our core business organic revenues have grown 4% despite continued global economic and political volatility. We believe this core business reflects the ultimate destination of our transformed company – an enterprise positioned to capture sustainable growth through a laser focus on innovating across our portfolio, building strong brands, and leveraging unparalleled customer service through aligned bottlers. As we continue on our path to transform the global system, we remain committed to our strategic actions for growth that will create long-term shareowner and stakeholder value,” Muhtar Kent said.
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