• Username (E-mail)
  • Password
Dow 20,822 0.1%  EStoxx50 3,304 -0.9%  Nikkei 19,284 -0.5%  EUR 1.0566 0.0% 
Nasdaq 5,845 0.2%  FTSE100 7,244 -0.4%  Yen 112.1450 0.0%  Oil 56.0 -0.8% 
S&P500 2,367 0.2%  DAX 11,804 -1.2%  GBP 1.2480 0.2%  Gold 1,257 0.0% 

Coca-Cola share [Symbol: KO / ISIN: US1912161007]

07/16/2013 07:46:23 AM
07/16/2013 07:46:23 AM UTC-0400

Coca-Cola Co. Q2 Profit Matches View - Quick Facts


(RTTNews) - Coca-Cola Co. (KO) reported that its second-quarter net income attributable to shareowners decreased to $2.68 billion or $0.59 per share, from $2.79 billion or $0.61 per share in the same quarter last year.

Items impacting comparability reduced second quarter 2013 reported earnings per share by a net $0.04 and had no net impact on second quarter 2012 reported earnings per share. In both periods, these items included restructuring charges, costs related to global productivity initiatives, transaction gains/losses, net gains/losses related to our economic hedges, primarily commodities, and certain tax matters. Items impacting comparability in second quarter 2012 also included charges related to changes in the structure of Beverage Partners Worldwide (BPW) and charges related to the supply of Brazilian orange juice.

Non-GAAP net income attributable to shareowners for the latest-quarter was $2.87 billion or $0.63 per share. Analysts polled by Thomson Reuters expected the company to report earnings of $0.63 per share for the quarter. Analysts' estimates typically exclude special items.

Net Operating Revenues for the quarter declined to $12.75 billion from $13.08 billion in the prior year quarter. Twelve analysts had consensus revenue estimate of $12.96 billion for the quarter.

Second quarter reported net revenues declined 3%, with comparable net revenues also down 3%. This reflected a 1% increase in concentrate sales, offset by a 2% impact from structural changes and a 2% currency headwind. The structural changes in the quarter primarily reflect the deconsolidation of the Philippine bottling operations in 2013.

Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company said, "While we are not happy with our performance, we did gain global volume and value share in total nonalcoholic ready-to-drink beverages as well as in sparkling and still beverages in the quarter. Despite the headwinds in the quarter, we are committed to improving upon our results, with current dynamics leading us to believe that our performance will be better in the second half of the year. We remain confident in our 2020 Vision and our system's ability to execute with precision around the world. In this context, we remain firmly focused on investing alongside our global bottling partners to strengthen our system for the future, to deliver the brands and beverages that consumers love and to achieve our long-term performance goals."

Analyst Opinions for Coca-Cola Co.

More Analyst Opinions
  • All
  • Buy
  • Hold
  • Sell
02/14/17
Coca-Cola Société Générale Group S.A. (SG)
02/10/17
Coca-Cola Barclays Capital
02/10/17
Coca-Cola Bernstein Research
02/10/17
Coca-Cola UBS AG
02/10/17
Coca-Cola Morgan Stanley

Add or Edit Instrument

Related Stocks

Coca-Cola Co. 41.78 0.29% Coca-Cola Co.

Stock Market

News Ticker

News

  • News on Stocks
  • All News
pagehit