The Coca-Cola Co. reported first quarter 2013 results. The company reported 4 percent first quarter global volume growth, 3 percent volume growth for Coca-Cola Americas and 5 percent for Coca-Cola International. Global sparkling beverage volume grew 3 percent, led by brand Coca-Cola and global still beverage volume grew 6 percent in the first quarter.
First quarter reported net revenues declined 1 percent. Excluding the impact of currency and structural changes, net revenues grew 2 percent despite two fewer selling days in the quarter. First quarter reported operating income declined 4 percent and comparable currency neutral operating income grew 5 percent in line with the company’s expectations and reflecting the impact of two fewer selling days in the quarter. First quarter reported earnings per share (EPS) was $0.39, down 13 percent and comparable EPS was $0.46, up 5 percent, including a currency headwind of approximately 4 percent. The company announces implementation of a new partnership model in the U.S.
Muhtar Kent, chairman and hief executive officer of The Coca-Cola Co. said in a prepared statement, “I am pleased with our first quarter performance results, having once again delivered solid growth against the backdrop of a still uncertain global economy. Guided by our 2020 vision, our roadmap for winning together with our global system bottling partners, we enter 2013 and the fourth year of our journey to 2020 focused and on track to reach our goals.
“Together, we are working to unlock value, to execute with excellence and to keep winning volume and value share. We proudly serve more than 500 brands through 23 million retail customer outlets each week, providing consumers a wide array of choices in package sizes, sweeteners and beverages -- including more than 800 low- and no-calorie options. Our focus each and every day is to refresh the world, inspire moments of optimism and happiness, create value and make a meaningful difference. I am proud of all we are achieving alongside our customers, bottlers and other partners. Even so, we remain constructively discontent as we seek to make the most of the vast growth opportunities we continue to see around the world.”