The Coca-Cola Company has reported mixed results for the third quarter, which management said reflected steady growth amid challenging economic conditions.
“Our business continues to demonstrate resilience in the face of a dynamic external environment,” said chairman and CEO James Quincey. “We are encouraged by our year-to-date performance while remaining focused on long-term growth opportunities.”
The company’s revenues totalled US$11.9 billion, a slight 1 per cent decline compared to the year prior. However, organic revenue, which excludes certain one-time items, grew by 9 per cent, driven by a 10 per cent increase in price and mix adjustments.
By region, both revenues and concentrate sales increased in the Americas but fell in Asia Pacific, Europe, the Middle East and Africa.
Unit case volume declined 1 per cent, with strong growth in Brazil, the Philippines, and Japan offset by declines in China, Mexico, and Turkey.
Operating margins were lower than last year, decreasing to 21.2 per cent from 27.4 per cent due to costs related to previous acquisitions and currency fluctuations.
Coca-Cola reported gains in market share within the non-alcoholic beverage segment, driven by products like Fuze Tea and Topo Chico, leading to a 20 per cent increase in household penetration. Its Coca-Cola Zero Sugar line saw robust 11 per cent growth globally, while new offerings in sparkling water helped drive sales in North America.
The company expects to close the year with at least 10 per cent organic revenue growth, focusing on strategic pricing and investments to manage inflation.
Damian Gammell, CEO of Coca-Cola Europacific Partners, expressed confidence in the company’s growth trajectory, citing strong marketing efforts, such as activations around sports events like the UEFA Euros and the Olympics.
“We are well placed for 2025 and beyond,” said Gammel. “We continue to invest for the long-term and are confident that we have the right strategy, done sustainably, to deliver on our midterm growth objectives.”
