Third quarter earnings flat for Coca-Cola
October 20, 2009
by Jeff Gelski
ATLANTA – The Coca-Cola Co., reported net income of $1,920 million, or 81c per share, for the third quarter ended Oct. 2, which was comparable to net income of $1,915 million, and also 81c per share, in the previous year’s third quarter. Third-quarter sales fell 4% to $8,044 million from $8,393 million in the previous year’s third quarter.
The company shares on the New York Stock Exchange were trading at $53.52 early on Tuesday morning after closing at $54.79 on Monday.
The Atlanta-based company was able to report a unit case volume third-quarter increase of 2%. Total still beverage unit case volume increased 7%. Third-quarter unit case volume increased 37% in India, 15% in China and 3% in Brazil.
"We continue to grow our currency neutral revenues, gain global non-alcoholic ready-to-drink volume and value share, expand our margins and invest in our business, all while generating tremendous cash flow," said Muhtar Kent, chairman and chief executive officer.
Revenues for the nine months ended Oct. 2 were $23,480 million, down 5% from $24,818 million in the previous year’s same time period. Net income for the nine months was $5,281 million, or $2.27 per share, up 10% from $4,812 million, or $2.06 per share.