7/25/2018, 12:57 PM (Source: TeleTrader)
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Coca-Cola reports EPS of $0.61, up 3% annually

The Coca-Cola Company reported on Wednesday that its adjusted earnings per share (EPS) in the second quarter of 2018 amounted to $0.61, slightly more than expected and 3% more than a year ago. The beverage producer said that its revenue in the last reported quarter amounted to $8.90 billion, down 8% on an annual basis, but still beating expectations. Organic revenues (non-GAAP) marked a growth of 5%, mostly due to concentrate sales growth of more than 2%, the company said.

The volume of units was up 2%, offset by Coca-Cola, Coca-Cola Zero Sugar, as well as Fuze Tea. the company said.

Net income in the second quarter stood at $2.32 billion, or $0.54 per share, jumping annually from last year's respective figures of $1.37 billion and $0.32 per share. Continuing operations earnings were $0.53 a share, up 68% year over year. Operating margin advanced 950 basis points, while non-GAAP operating margin increased by 300 basis points, attributed to divestitures of lower-margin bottling operations and the company's ongoing productivity efforts, the release noted.

The company's free cash flow (non-GAAP) tumbled 20% from the beginning of 2018, at $2.0 billion.

James Quincey, President and CEO of Coca-Cola, said: "We're encouraged with our performance year-to-date as we continue our evolution as a consumer-centric, total beverage company...We have the right strategies in place and remain focused on achieving our full year guidance."

Breaking the News / NI