ATLANTA, Dec. 15, 2014 — Ahead of its previously announced modeling conference call today, The
- The Company expects full year comparable currency neutral EPS growth of 4% to 5%, and a currency headwind of 7%.
- The Company expects fourth quarter comparable currency neutral EPS growth to be even to slightly positive. The impact of currency in the fourth quarter is expected to be a 6 to 7 point headwind on operating income and a 9 point headwind on EPS.
- As previously indicated, the Company does not expect comparable currency neutral EPS growth in 2015 to be significantly different from 2014. Longer term, the Company intends to return to delivering against its stated growth targets.
- Based on current spot rates, existing hedge positions, and the cycling of 2014 rates, the Company now expects a 5 to 6 point currency headwind on profit before tax in 2015.
- The underlying effective annual tax rate on operations in 2015 is currently expected to be 22.5%. In 2015, the Company is targeting net share repurchases of $2.0 to $3.0 billion.
The Company is hosting a conference call with investors and analysts to provide additional details pertaining to its 2015 outlook and to address financial and modeling-related questions on Monday, Dec. 15, 2014, at 4:30 p.m. EST. Ms. Waller will host the call.
Investors and analysts are invited to join a live webcast of the conference call from the Company’s website, www.coca-colacompany.com in the “Investors” section. Presentation materials for the conference call will be available for download. A replay in downloadable MP3 format and a transcript of the call will also be available within 24 hours on the Company’s website.
The Coca-Cola Company (NYSE: KO) is the world's largest beverage company, refreshing consumers with more than 500 sparkling and still brands. Led by Coca-Cola, one of the world's most valuable and recognizable brands, our Company's portfolio features 17 billion-dollar brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater, Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are the No. 1 provider of sparkling beverages, ready-to-drink coffees, and juices and juice drinks. Through the world's largest beverage distribution system, consumers in more than 200 countries enjoy our beverages at a rate of 1.9 billion servings a day. With an enduring commitment to building sustainable communities, our Company is focused on initiatives that reduce our environmental footprint, support active, healthy living, create a safe, inclusive work environment for our associates, and enhance the economic development of the communities where we operate. Together with our bottling partners, we rank among the world's top 10 private employers with more than 700,000 system associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com, follow us on Twitter at twitter.com/CocaColaCo, visit our blog, Coca-Cola Unbottled, at www.coca-colablog.com or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company.
This press release may contain statements, estimates or projections that constitute “forward-looking statements” as defined under U.S. federal securities laws. Generally, the words “believe,” “expect,” “intend,” “estimate,” “anticipate,” “project,” “will” and similar expressions identify forward-looking statements, which generally are not historical in nature. Forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from The
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