Coca-Cola Company Q3 Profit Matches Estimates - Quick Facts

(RTTNews) - The Coca-Cola Company (KO) reported that its third-quarter net income attributable to shareowners rose to $2.45 billion or $0.54 per share, from $2.31 billion or $0.50 per share, prior year. Third-quarter comparable earnings per share was $0.53.

On average, 16 analysts polled by Thomson Reuters expected the company to report profit per share of $0.53 for the quarter. Analysts' estimates typically exclude special items.

Net operating revenues decreased to $12.03 billion, from $12.34 billion, prior year. Analysts expected revenue of $12.05 billion for the quarter.

Third-quarter reported net revenues declined 3%, with comparable net revenues down 2%. The comapny said the 3% decline reflects a 1% increase in concentrate sales and 2% price/mix, offset by a 4% impact from structural changes, principally the deconsolidation of bottling operations in the Philippines and Brazil, and a 2% currency headwind. Excluding the impact of structural changes, comparable currency neutral net revenues grew 4% in the quarter.

The Coca-Cola Company reported worldwide volume growth of 2% in the third quarter, bringing year-to-date worldwide volume growth to 2%. Coca-Cola Americas grew volume 1% in both the quarter and year to date. Coca-Cola International grew volume 3% in both the quarter and year.

Third-quarter reported operating income decreased 12%. Excluding the impact of structural changes, primarily the deconsolidation of the Philippine and Brazilian bottling operations in 2013, comparable currency neutral operating income grew 8% in the quarter.

The company expects the Philippine bottling transaction, together with the bottling transaction in Brazil, will reduce full-year 2013 reported net revenues by 3%.