ATLANTA--(BUSINESS WIRE)--The Coca-Cola Company today reported third quarter 2015 operating results.
- Reported net revenue declined 5% and organic revenue grew 3%
- Global price/mix of 3% reflecting positive pricing and packaging initiatives across key markets
- Reported EPS was $0.33 and comparable EPS was $0.51
- Global volume grew 3%
- Year-to-date cash from operations increased 5% to $8.4 billion, despite significant foreign currency headwinds
- Expect full-year comparable currency neutral EPS growth of 5%, in line with the range laid out at the beginning of the year
North America
- Organic revenue growth in the quarter was driven by positive price/mix. Acquisitions and divestitures primarily reflect the unfavorable impact of refranchised territories, partially offset by the benefit of our expanded distribution of Monster beverage products in North America. The expanded distribution contributed 1 point of unit case volume growth in both the quarter and year to date. After adjusting for the additional selling days in the first quarter and the impact of acquired volume, concentrate sales growth and unit case volume growth were in line year to date.
- Comparable currency neutral income before taxes outpaced organic revenue growth in the quarter primarily due to lower input costs and the impact of our ongoing productivity initiatives, partially offset by increased marketing investments and a high single-digit unfavorable impact from structural changes. Structural changes included 5 points related to refranchised territories, as well as a net unfavorable impact from the brand transfer agreement associated with the closing of the transaction with Monster Beverage Corporation and expanded distribution of Monster beverage products.
- We gained value share in total NARTD beverages for the 22nd consecutive quarter driven by an increase in both the quality and quantity of our marketing investments and our continued rational approach to pricing and disciplined price/pack strategies. Full report.
