Coca-Cola has reported high earnings in the second quarter, offsetting weaker case volumes that fell one per cent each globally and in North America.
Coke said Tuesday its pricing rose 6 per cent for the April-June period, but the one per cent fall in case volumes globally was because of weaker sales in Latin America.
Coca Cola Zero Sugar, however, saw volumes grow 14 per cent, the company said, as consumer demand for zero-sugar version of the drink continues to grow.
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Last week, US President Donald Trump had said in a social media post that Coca-Cola had agreed to use real cane sugar in its flagship product in the US instead of high-fructose corn syrup. Coke has yet to confirm any such change, but promised new offerings soon.
Global case volumes of juice, dairy and plant-based beverages, meanwhile, fell 4 per cent, Coke said. Sports drink case volumes were down 3 per cent, as higher demand in North America was offset by declines in Latin America.
Revenue for the Atlanta company rose 1 per cent to USD12.5 billion; but when adjusted for one-time items, quarterly revenue was USD 12.6 billion, in line with Wall Street's forecast, according to analysts polled by FactSet.
Net income jumped 58 per cent to USD 3.8 billion. Its adjusted net income was 87 cents, which was higher than the 83 cents Wall Street forecast.
Coke said Tuesday it now expects full-year adjusted earnings to grow 8 per cent. At the start of the year, Coke had expected earnings to grow 8 per cent to 10 per cent, but in April it lowered that range to 7 per cent to 9 per cent. It earned USD 2.88 per share in 2024.
Shares of Coca-Cola Co were down slightly early Tuesday as were all major US markets.
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