NEW YORK: The Coca-Cola Company on Tuesday reported a five per cent year-over-year increase in third-quarter net revenue to US$12.5 billion, supported by moderate growth in global demand, reported Xinhua.
The company reported a six per cent increase in price and mix, while concentrate sales remained unchanged.
Global unit case volume increased one per cent, compared to a 0.75 per cent forecast, marking a rebound from the previous quarter’s one per cent decline.
However, sales in North America and Latin America remained flat.
Company executives have acknowledged that low-income consumers in the United States (US) are cutting back on purchases, prompting Coca-Cola to introduce more affordable offerings to maintain brand reach.
“While the overall environment has continued to be challenging, we’ve stayed flexible – adapting plans where needed and investing for growth,” said James Quincey, chairman and CEO of The Coca-Cola Company.
Year-to-date cash flow from operations reached US$3.7 billion, while free cash flow totalled US$2.4 billion.
Coca-Cola reaffirmed its full-year forecast, expecting comparable earnings per share to rise three per cent and organic revenues to grow between five per cent and six per cent. – BERNAMA-XINHUA
