The Coca-Cola Co. posted growth amid market challenges and structural costs in the third quarter.
For the three months ended Sept. 27, net income attributable to shareowners increased 6% to $2,447,000,000, equal to 54c per share, from $2,311,000,000, or 50c, during the prior-year period.
But net revenues dropped 3% to $12,030,000,000 during the quarter from $12,340,000,000 a year ago. Still, the company achieved 2% global volume growth and worldwide value share gains in total nonalcoholic ready-to-drink beverages.
“We delivered sound third quarter results in the confines of an ongoing challenged macroeconomic environment driven by increasing volatility across emerging markets,” said Muhtar Kent, chairman and chief executive officer. “While we saw sequential improvement in the business compared to the second quarter, together with our global bottling partners, we remain constructively discontent and resolutely focused on further advancing our growth trajectory.
“While we are certainly not immune to the impact of global macroeconomic events, our 2020 Vision and long-term strategies remain firmly intact. Together with our global bottling partners, we are investing in our brands and our capabilities to further strengthen our system and to drive sustainable growth and value. Importantly, the company remains committed to its long-term performance goals and to delivering shareowner returns by always providing our consumers with the brands and beverages they love.”
