Q2 2024 Coca-Cola Co Earnings Call Transcript
Key Points
- Coca-Cola Co (KO) raised both top line and bottom line guidance for 2024.
- The company achieved 7% comparable earnings per share growth despite 10% currency headwinds.
- Strong performance in Asia Pacific, particularly in India and the Philippines, with double-digit volume growth.
- Successful marketing and innovation initiatives, including the relaunch of Ayataka tea in Japan and the partnership with Marvel.
- Robust performance in Latin America, driven by strength in Mexico and Brazil, with Coca-Cola Zero Sugar achieving over 20% volume growth.
- Currency headwinds and bottler re-franchising negatively impacted earnings.
- Consumer confidence remains subdued in China, affecting overall performance.
- Pressure in the away-from-home business in Europe due to reduced foot traffic and adverse weather.
- Geopolitical tensions and economic uncertainty in Eurasia and the Middle East continue to impact business.
- Volume decline in North America driven by softness in away-from-home channels.
As time, I'd like to welcome everyone to the Coca-Cola company's second quarter 2024 earnings results conference call. Today's call is being recorded. (Operator Instructions) I would now like to introduce Ms. Robyn Halpern, Vice President and Head of Investor Relations. Miss 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 Dan Murphy, our President and Chief Financial Officer. We've posted schedules under financial information in the Investors section of our company website reconcile certain non-GAAP financial measures that may be referred to this morning to results.
As reported under generally accepted accounting principles. You can also find schedules in the same section of our website that provide an analysis of our gross and operating margins. This call may contain forward-looking statements, including statements concerning long-term earnings objectives, which should be considered in conjunction with
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