Today, our Company reports continued growth in worldwide unit case volume, which drove gains in global volume and value share, with year-to-date revenue growth in line with our long-term target and profit growth exceeding our long-term target.
- International unit case volume growth of 4 percent in the quarter and year-to-date led to solid worldwide unit case volume growth of 2 percent in the quarter and year-to-date.
- Third quarter reported EPS was $0.81, even with the prior year quarter. Comparable EPS was $0.82, down 1 percent versus the prior year quarter reflecting a negative currency impact.
- Reported operating income decreased 2 percent in the quarter and decreased 4 percent year-to-date. Comparable currency neutral operating income growth of 9 percent in the quarter and year-to-date, exceeding our long-term growth target.
- Strong cash generation, with year-to-date cash from operations of $6.3 billion, an increase of 11 percent versus the prior year period.
- Global volume and value share gains continued for the ninth consecutive quarter.
- Productivity initiatives well on track to achieve $500 million in annualized savings by year-end 2011; with plans to deliver more than half of the savings by year-end 2009.
ATLANTA, October 20, 2009 -- The
Globally, we gained volume and value share in nonalcoholic ready-to-drink beverages for the ninth consecutive quarter. The global "Open Happiness" campaign continued to fuel growth of brand
"I am pleased to report that we have again delivered solid results this quarter," said Muhtar Kent, chairman and chief executive officer, The
"This is a dynamic time in the history and evolution of our Company," said Mr. Kent. "With our 2020 Vision, we have a clear
- Year-to-date reported net revenues decreased 5 percent. After excluding structural items, year-to-date net revenues increased 5 percent on a comparable currency neutral basis, in line with our long-term growth target.
- Year-to-date reported operating income decreased 4 percent. With continued focus on cost management and by leveraging our productivity initiatives, year-to-date operating income increased 9 percent on a comparable currency neutral basis, exceeding our long-term growth target.
- Year-to-date cash from operations increased to $6.3 billion, and we repurchased $241 million of our stock in the third quarter.
- All references to growth rate percentages and share compare the results of the period to those of the prior year comparable period.
- All references to unit case volume percentage changes are computed based on average daily sales for all periods presented.
- 2009 year-to-date results are positively impacted by five additional selling days, which will be offset by six fewer selling days in the fourth quarter.
- Our long-term growth targets as referenced in this release are on a comparable currency neutral basis and exclude structural changes.