Earnings per share: 56 cents, adjusted, vs. 56 cents expected
Revenue: $9.5 billion vs. $9.4 billion expected
Coke reported fiscal third-quarter net income of $2.6 billion, or 60 cents per share, up from $1.8 billion, or 44 cents per share, a year earlier.
Excluding impairment charges, gains from the sale of a New York building, and other items, the beverage giant earned 56 cents per share, in line with the 56 cents per share expected by analysts surveyed by Refinitiv.
Net sales rose 8% to $9.5 billion, topping expectations of $9.4 billion. Organic revenue grew by 5%, helped by higher prices and customers buying more expensive drinks.
As soda consumption declines in the U.S., Coke has been driving sales by focusing on drinks with less sugar and smaller packaging. Coke Zero Sugar once again saw double-digit volume growth. Its 7.5-ounce mini cans of soda grew by 15%, Quincey told analysts on the conference call. Minute Maid and juice brand Simply also saw strong performance in the company’s home market. North American organic revenue grew by 3% during the quarter.
https://www.cnbc.com/2019/10/18/coca...s-q3-2019.html
Great to see a homegrown company find ways to reinvent itself and have an amazing quarter.