Coca-Cola Q3 Profit Down; Results Miss Estimates - Quick Facts

(RTTNews) - Coca-Cola Co. (KO) reported that its third-quarter net income attributable to shareowners declined to $1.45 billion or $0.33 per share from $2.11 billion or $0.48 per share in the same quarter last year.

During the three months ended October 2, 2015, the Company recorded charges of $815 million. The Company recorded charges of $270 million during the three ended September 26, 2014, respectively. These charges were primarily due to the derecognition of intangible assets relating to the refranchising of territories in North America to certain of its unconsolidated bottling partners.

Quarterly comparable earnings per share dropped to $0.51 from $0.53 last year. Analysts polled by Thomson Reuters expected the company to report earnings of $0.50 per share for the quarter. Analysts' estimates typically exclude special items.

Net operating revenues dropped to $11.43 billion from $11.98 billion in the prior year. Wall Street expected revenues of $11.54 billion for the quarter.

The company estimates that the net impact of structural items on full-year 2015 results will be a 1 point headwind on both net revenues and income before taxes.

It expects full-year 2015 net share repurchases of $2.0 billion to $2.5 billion.

It expect full-year 2015 comparable currency neutral earnings per share growth of 5%, in line with the range it laid out at the beginning of the year.