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The Coca-Cola Company
KO reported its Q2 2014 conference call Tuesday Morning releasing sales and guidance for the quarter. Before the conference call Coke announced an EPS of $0.64 compared to estimates of $0.63 and revenue of $12.57 billion compared to revenue estimates of $12.82 billion.
Highlights From The Call:- Repurchased $1.3 million of shares year to date.
- Coke announced 3 percent of global growth volume.
- Reinvested capital investments of $2.5 billion in Q2 2014. Reported net revenues declined 1 percent in the quarter, 3 percent year to date.
- Operating income decreased by 2 percent in both the second quarter and year to date, excluding structural changes, comparable currency neutral operating income increased by 5 percent in Q2 and 6 percent year to date.
- Year to date cash from operations was $4.5 billion.
- Brand grew 1 percent in North America with 3 percent price mix.
- Global sparkling brand grew 2 percent in the second quarter.
- Diet Coke and Coke Light declined to mid single digits.
- Tea segment Increase 4 percent, growing 4 percent in North America, 5 percent in Japan.
- Water segment grew by 7 percent in the quarter and 10 percent year-over-year.
- World cup added over 170 markets in the second quarter.
- Invest $2 billion to penetrate further into Mexico's geographic.
- Cokes management places focus on targeting Millennial generation.
- Focus on strengthen the company's core values with leadership focus across the globe.
- Coke mentioned the Woodruff cup named after Coke's former president Robert W. Woodruff, a prestigious operating award, honoring the top-performing business unit in the worldwide Coca-Cola business system.
- South Laten business unit performed well, management was proud to announce that women employees are a majority of the South Laten employees, displaying leadership for women in the workforce.
- Management announced 1 less selling day in the quarter.
- Operating leverage came out even for the quarter.
- Mid to single digit growth in its DME segment.
- Currency headwinds in Venezuela due to operating margins in result from transferring revenues domestically. Costa Rica impacted currency exchange from provisions.
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