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The Coca-Cola Company Reports Second Quarter And Year-to-Date 2013 Results

Stocks in this article: KO

The Coca-Cola Company today reported second quarter and year-to-date 2013 results. Muhtar Kent, Chairman and Chief Executive Officer of The Coca-Cola Company 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. We remain confident in our 2020 Vision and our system's ability to execute with precision around the world. In this context, we remain firmly focused on investing alongside our global bottling partners to strengthen our system for the future, to deliver the brands and beverages that consumers love and to achieve our long-term performance goals.”

PERFORMANCE HIGHLIGHTS

The Coca-Cola Company reported worldwide volume growth of 1% in the second quarter and 3% year to date, and grew global volume and value share in the quarter in total NARTD beverages as well as in both sparkling and still beverages. Volume growth in the quarter was below the Company's expectations due to a confluence of factors that collectively made for a challenging second quarter. 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. Coca-Cola Americas grew volume 1% in the quarter and 2% year to date, with North America volume down 1% and Latin America volume up 2% in the quarter. Coca-Cola International grew volume 2% in the quarter and 4% year to date, with second quarter Eurasia and Africa volume up 9%, Pacific volume up 2% and Europe volume down 4%.

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