Q3 2024 Coca-Cola Co Earnings Call Transcript
Key Points
- Coca-Cola Co (KO) achieved robust organic revenue growth with value share gains in both at-home and away-from-home channels.
- Trademark Coca-Cola volume outperformed during the quarter, contributing to positive business trends.
- The company expanded comparable margins, leading to a 5% growth in comparable earnings per share despite currency headwinds.
- Coca-Cola Co (KO) demonstrated strong performance in North America, with robust top-line growth and value share gains.
- The company successfully integrated marketing activations, such as Rock in Rio in Brazil, which significantly boosted brand engagement.
- Coca-Cola Co (KO) experienced a 1% decline in volume during the third quarter, driven by a slow start in July.
- The company faced nearly double-digit currency headwinds, impacting financial performance.
- Volume in Latin America was flat, and there were declines in some North African markets.
- The Eurasia and Middle East regions experienced a decline in volume due to a confluence of headwinds.
- In China, a challenging operating environment and strategic reprioritization led to a decline in volume.
At this time, I'd like to welcome everyone to The Coca-Cola Company's third quarter 2024 earnings results conference call. Today's call is being recorded. If you have any objections, please disconnect at this time. (Operator Instructions)
I would like to remind everyone that the purpose of this conference is to talk with investors, and therefore, questions from the media will not be addressed. Media participants should contact Coca-Cola's Media Relations department if they have any questions. I would now like to introduce Ms. Robin Halpern, Vice President and Head of Investor Relations. Ms. Halpern, you may now begin.
Good morning, and thank you for joining us. I'm here with James Quincey, our Chairman and Chief Executive Officer; and John Murphy, our President and Chief Financial Officer. We've posted schedules under financial information in the Investors section of our company website. These reconcile certain non-GAAP financial measures that may be referred to this morning to results as reported under
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