Summary
The Coca-Cola Company reported its third-quarter and year-to-date results for the period ending September 27, 2013. For the three months, net operating revenues saw a decrease of 3% to $12.03 billion compared to the prior year, while consolidated net income attributable to shareowners rose slightly to $2.447 billion, leading to a diluted EPS of $0.54. For the nine months, net operating revenues decreased by 2% to $35.81 billion, and net income attributable to shareowners was $6.874 billion, with diluted EPS of $1.52. The company experienced a notable increase in cash and cash equivalents, up 32% to $11.118 billion, indicating strong operational cash flow generation. This period saw significant strategic movements, including the deconsolidation of Brazilian bottling operations and divestitures in the Philippines, which, while impacting revenue, were part of a broader strategy to optimize the company's structure. Significant charges related to the impairment of intangible assets and restructuring initiatives were noted. Overall, the report reflects a company navigating a complex global economic environment, with strategic portfolio adjustments and disciplined cost management. Despite revenue pressures, the company maintained profitability and a strong liquidity position.
Financial Highlights
55 data points| Revenue | $12.03B |
| Cost of Revenue | $4.79B |
| Gross Profit | $7.24B |
| SG&A Expenses | $4.42B |
| Operating Income | $2.47B |
| Interest Expense | $90.00M |
| Net Income | $2.45B |
| EPS (Basic) | $0.55 |
| EPS (Diluted) | $0.54 |
| Shares Outstanding (Basic) | 4.43B |
| Shares Outstanding (Diluted) | 4.50B |
Key Highlights
- 1Net operating revenues for the three months ended September 27, 2013, decreased by 3% to $12.03 billion compared to the prior year.
- 2Consolidated net income attributable to shareowners for the three months increased to $2.447 billion, resulting in diluted EPS of $0.54.
- 3For the nine months ended September 27, 2013, net operating revenues decreased by 2% to $35.81 billion, while net income attributable to shareowners was $6.874 billion, with diluted EPS of $1.52.
- 4Cash and cash equivalents significantly increased by 32% to $11.118 billion, indicating strong cash generation and liquidity.
- 5The company recognized $190 million in impairment charges related to intangible assets and significant charges for productivity, reinvestment, and restructuring initiatives.
- 6Strategic divestitures and deconsolidations of bottling operations in Brazil and the Philippines occurred, impacting reported revenues but part of ongoing structural optimization.
- 7The company continues to actively manage its debt, with issuances and payments of both short-term and long-term debt throughout the period.