Net Revenues Grew 6%; Organic Revenues (Non-GAAP) Grew 6%
Operating Income Grew 8%; Comparable Currency Neutral Operating Income (Non-GAAP) Grew 14%
Operating Margin Was 29.9%; Comparable Operating Margin (Non-GAAP) Was 30.3%, Including the Impact from
Currency Headwinds and Acquisitions
EPS Grew 12% to $0.61; Comparable EPS (Non-GAAP) Grew 4% to $0.63, Despite a 9% Currency Headwind
ATLANTA, July 23, 2019 – The Coca‑Cola Company today reported strong operating results in the second quarter of 2019, driven by consumer-centric innovation, solid core brand performance and improved execution in the marketplace. Reported net revenues and organic revenues (non-GAAP) both grew 6% through balanced volume and price/mix, with all operating segments contributing to organic revenue (non-GAAP) growth. The company continued to gain global value share. The company’s performance year-to-date led to an update in full year guidance.
"Our strategy to transform as a total beverage company has allowed us to continue to win in a growing and vibrant industry," said James Quincey, chairman and CEO of The Coca‑Cola Company. "Our progress is positioning the company to create more value for all of our stakeholders, including our shareowners."
- Bottlers worldwide continue to introduce more brands in 100% recycled PET (rPET) packaging. Recent launches include the green tea brand Hajime Ichinichi Ippon in Japan; the Romerquelle and Valser water brands in Austria and Switzerland, respectively; Viva water in the Philippines; and San Luis water in Peru. In Western Europe, 100% rPET bottles will be launched for smartwater, Chaudfontaine and Honest by the end of 2019.
- Coca‑Cola Amatil and Coca‑Cola Australia announced that 70% of all PET bottles in the market will be made from 100% rPET by the end of 2019.
- Coca‑Cola European Partners and Coca‑Cola Great Britain announced a switch from green to clear bottles for Sprite in their markets as a way to improve recycling. Other markets are making this change as well.
- Coca‑Cola Beverages Philippines, the bottling arm of Coca‑Cola in the Philippines, announced that it will lead the investment in a $19 million state-of-the-art, food-grade recycling facility that will collect, sort, clean and wash post-consumer recyclable plastic bottles and turn them into new bottles using advanced technology. It is Coca‑Cola’s first major investment in a recycling facility in Southeast Asia.
- Coca‑Cola Vietnam led the launch of an industry-backed packaging recovery organization alongside other companies. The organization will initially focus on increasing recovery and recycling rates for three materials: PET, aluminum and Tetra Pak®.
Tetra Pak® is a U.S. registered trademark of Tetra Laval Holdings & Finance S.A.