The Coca-Cola Company said its net revenues declined 8% to $8.9 billion, impacted by a 15% headwind from the refranchising of company-owned bottling operations.
Organic revenues grew 5%, driven by concentrate sales growth of more than 2% and price/mix growth of more than 2%.
The Coca-Cola Company continued to execute on its key strategies in the second quarter of 2018. While reported net revenues for the quarter declined due to refranchising, the company delivered strong organic revenue (non-GAAP) growth through balanced volume and price/mix, while gaining value share globally.
“We’re encouraged with our performance year-to-date as we continue our evolution as a consumer-centric, total beverage company,” said James Quincey, President and CEO of The Coca-Cola Company. “We have the right strategies in place and remain focused on achieving our full year guidance.”
During the quarter, the company continued to accelerate its evolution as a total beverage company, from testing new products locally to lifting and shifting successful brands globally.
The company is also driving an acceleration in the sparkling soft drinks category through investment and innovation, with 5% retail value growth in its sparkling portfolio during the quarter.
These efforts, balanced with disciplined growth, have resulted in transaction growth of 4% year-to-date, outpacing unit case volume growth of 3%.
