Coca-Cola released third quarter results for 2013 and reported that net revenues declined 3 percent in the third quarter and 2 percent year to date. Excluding the impact of structural changes, comparable currency neutral net revenues grew 4 percent in the quarter and 3 percent year to date.
Third quarter volume grew 2 percent and year-to-date volume grew 2 percent. Coca-Cola Americas grew 1 percent in both the quarter and year to date and Coca-Cola International grew 3 percent in both the quarter and year to date. Global value share gains achieved in the quarter in total nonalcoholic ready-to-drink (NARTD) beverages and in core sparkling and still beverages.
Reported operating income declined 12 percent in the third quarter and 6 percent year to date. Excluding the impact of structural changes, comparable currency neutral operating income grew 8 percent in the quarter and 6 percent year to date. Currency was a 2 percent headwind on comparable net revenues and a 5 percent headwind on comparable operating income in the quarter.
Third quarter reported EPS (earnings per share)was $0.54, up 8 percent, and comparable EPS was $0.53, up 4 percent, despite an approximate 5 percent currency headwind. Year-to-date reported EPS was $1.52, down 2 percent, and comparable EPS was $1.62, up 4 percent, despite two fewer selling days in the first nine months of 2013 and an approximate 4 percent currency headwind. Full report.
