Coca-Cola profit climbs on volume growth

by Staff
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ATLANTA — Global volume growth contributed to a 4% increase in income at The Coca-Cola Co. during the third quarter. The company said it expanded in emerging markets and focused more on sports beverages and teas for growth in the U.S. Volume was up 2% in developed markets and 7% in emerging markets.

For the quarter ended Sept. 28, the company had income of $2,311 million, equal to 51c per share on the common stock, which compared with income of $2,224 million, or 49c per share, during the same quarter of the previous year. Net operating revenue for the quarter was $12,340 million, up 1% from $12,248 million during the same quarter of the previous year.

“We are pleased with our third-quarter and year-to-date results,” said Muhtar Kent, chairman and chief executive officer. “We continue to deliver consistent and solid performance with our business growing worldwide volume by 4% in the quarter and 5% year-to-date. Importantly, we realized growth in the quarter across all five of our global geographic operating groups, despite continued volatility in the worldwide economy. We have been able to crack the calculus for growth in this environment. We have done this by consistently investing in our system and our brands to ensure our global portfolio is more relevant and healthier today than it has ever been. We remain resolutely focused on ensuring we leverage our wonderful heritage and fuse it with what is expected by our consumers today in order to earn and sustain our place in their daily lives tomorrow.”

For the nine months ended Sept. 28, income rose 3% to $7,153 million, or $1.58 per share, which compared with income of $6,927 million, or $1.51 per share, during the same period of the previous year. Net operating revenue for the period was $36,562 million, up 3% from $35,502 million.

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