Today Coca-Cola (NYSE:KO) reported worldwide volume growth of 1% in the second quarter and 3% year to date. The Company also reported growth in global volume and value share in the quarter in total nonalcoholic ready-to-drink (NARTD) beverages as well as in both sparkling and still beverages.
Chairman and CEO Muhtar Kent said, “Our second quarter volume results came in below our expectations reflecting an ongoing challenging global macroeconomic environment and unusually poor weather conditions in the quarter. 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.”
Slow economies in Europe, Asia and Latin America, and historically wet and cold weather conditions across multiple regions impacted consumer spending and, consequently, overall NARTD beverage industry performance.
Worldwide sparkling beverage volume was even in the quarter and up 2% year to date. Worldwide brand Coca-Cola volume grew 1% in the quarter and 2% year to date, with growth in the quarter across diverse markets, including Thailand (+24%), India (+18%), Nigeria (+15%), Russia (+11%), Argentina (+7%) and the Philippines (+7%).
Worldwide still beverage volume grew 6% in both the quarter and year to date.
The full press release, including more facts and figures about our second quarter results, can be found by clicking here.
Check back later today for more updates from our quarterly call with investors. In the meantime, you can listen live beginning at 9:30 a.m. ET here on Coca-Cola Journey.
UPDATED: Watch a video of our Chief Financial Officer, Gary Fayard, on CNBC this morning.
Petro Kacur is Media Relations Director at The