The Coca-Cola Company Updates Currency Outlook, Reaffirms Guidance, Including EPS Growth Target

ATLANTA--In connection with a presentation at the Deutsche Bank Global Consumer Conference, The Coca-Cola Company updated its currency outlook, while also reaffirming other previously announced guidance for 2018. 

The company updated second quarter and full year 2018 expectations for currency based on current rates and including the impact of hedged positions. The company now expects the currency headwind to second quarter comparable net revenues (non-GAAP) to be in the range of 0% to 1% and expects the full year 2018 currency headwind to comparable net revenues (non-GAAP) to be in the range of 0% to 1%. 

Additionally, the company now expects the currency headwind on second quarter comparable operating income (non-GAAP) to be approximately 2% and expects the full year 2018 currency headwind on comparable operating income (non-GAAP) to be in the range of 2% to 3%. 

The company reaffirmed its remaining, previously announced full year 2018 expectations, including organic revenue (non-GAAP) growth of 4% and, despite increasing headwinds from currencies, comparable EPS from continuing operations (non-GAAP) growth of 8% to 10%. 

As previously announced, Chief Financial Officer Kathy Waller and Chief Growth Officer Francisco Crespo will present at the Deutsche Bank Global Consumer Conference in Paris today at approximately 10:30 a.m. CET (4:30 a.m. ET). The company invites investors to listen to the live audio cast of the presentation at www.coca-colacompany.com/investors. A replay in downloadable MP3 format will be available within 24 hours after the event on the company’s website. 

2018 Outlook 

The 2018 outlook information provided above includes forward-looking non-GAAP financial measures, which management uses in measuring performance. The company is not able to reconcile full year 2018 projected organic revenues (non-GAAP) to full year 2018 projected reported net revenues, full year 2018 projected comparable currency neutral operating income (adjusted for structural items and accounting changes) (non-GAAP) to full year 2018 projected reported operating income, or full year 2018 projected comparable EPS from continuing operations (non-GAAP) to full year 2018 projected reported EPS from continuing operations without unreasonable efforts because it is not possible to predict with a reasonable degree of certainty the actual impact of changes in foreign currency exchange rates; the exact timing and amount of acquisitions, divestitures and/or structural changes; the exact timing and amount of comparability items throughout 2018; and the actual impact of accounting changes. The unavailable information could have a significant impact on full year 2018 GAAP financial results. 

About The Coca-Cola Company 

The Coca-Cola Company (NYSE: KO) is a total beverage company, offering over 500 brands in more than 200 countries. In addition to the company’s Coca-Cola brands, our portfolio includes some of the world’s most valuable beverage brands, such as AdeS soy-based beverages, Ayataka green tea, Dasani waters, Del Valle juices and nectars, Fanta, Georgia coffee, Gold Peak teas and coffees, Honest Tea, innocent smoothies and juices, Minute Maid juices, Powerade sports drinks, Simply juices, smartwater, Sprite, vitaminwater and ZICO coconut water. We’re constantly transforming our portfolio, from reducing sugar in our drinks to bringing innovative new products to market. We’re also working to reduce our environmental impact by replenishing water and promoting recycling. With our bottling partners, we employ more than 700,000 people, bringing economic opportunity to local communities worldwide. Learn more at Coca-Cola Journey at www.coca-colacompany.com and follow us on Twitter, Instagram, Facebook and LinkedIn.