Coca-Cola reported its financial results for the third quarter of 2024 on October 23, 2024. The company experienced a 1% decline in net revenues to $11.9 billion, while organic revenues (non-GAAP) grew by 9%. Operating income saw a significant decrease of 23%, primarily due to a $919 million charge related to the fairlife acquisition and currency headwinds. Despite these challenges, comparable currency neutral operating income (non-GAAP) increased by 14%. Earnings per share (EPS) dropped by 7% to $0.66, but comparable EPS (non-GAAP) rose by 5% to $0.77. Coca-Cola's global unit case volume declined by 1%, with notable growth in Brazil, the Philippines, and Japan, offset by declines in China, Mexico, and Türkiye. The company gained value share in total nonalcoholic ready-to-drink beverages and continued to...Show More

Coca-Cola reported its financial results for the third quarter of 2024 on October 23, 2024. The company experienced a 1% decline in net revenues to $11.9 billion, while organic revenues (non-GAAP) grew by 9%. Operating income saw a significant decrease of 23%, primarily due to a $919 million charge related to the fairlife acquisition and currency headwinds. Despite these challenges, comparable currency neutral operating income (non-GAAP) increased by 14%. Earnings per share (EPS) dropped by 7% to $0.66, but comparable EPS (non-GAAP) rose by 5% to $0.77. Coca-Cola's global unit case volume declined by 1%, with notable growth in Brazil, the Philippines, and Japan, offset by declines in China, Mexico, and Türkiye. The company gained value share in total nonalcoholic ready-to-drink beverages and continued to innovate across its portfolio. Coca-Cola also highlighted its digital capabilities, leveraging AI and machine learning to enhance marketing and product development. The company provided updated guidance for the full year 2024, expecting organic revenue growth of approximately 10% and comparable EPS growth of 5% to 6%. The report also included detailed financial statements and segment performance.