Coca Cola's third quarter revenue was $11.9 billion, and it reiterated its commitment to continue investing in the Chinese market
六月清晨搅
发表于 2024-10-24 14:28:47
156
0
0
On October 23rd, Coca Cola Company released its financial report for the third quarter of 2024. According to the financial report, the company's third quarter revenue was $11.854 billion, a year-on-year decrease of 1%, but exceeded market expectations of $11.61 billion; Operating profit of 2.51 billion US dollars; Net profit was 2.85 billion US dollars, a year-on-year decrease of 7.8%; Earnings per share were $0.77, an increase of 5%, higher than the market expectation of $0.75. The cumulative revenue for the first three quarters was 35.517 billion US dollars, while the cumulative revenue for the same period last year was 34.905 billion US dollars, a year-on-year increase of 1.75%.
Overall, thanks to factors such as rising product prices and increased sales of carbonated beverages and tea products, Coca Cola delivered a higher than expected performance report in the third quarter and announced an upward adjustment to its 2024 performance guidance. In terms of the Chinese market, the CEO of Coca Cola reiterated his long-term confidence in the market and will continue to invest.
Overall product price increase
Sugar free cola sales continue to lead
From the perspective of price performance, Coca Cola's price combination in the third quarter, which includes a series of products, increased by 10%, but about 4% of the increase came from markets with severe inflation such as Argentina. However, due to weak international market demand, the total unit box sales in the third quarter decreased by 1%. Specifically, Coca Cola's unit box sales in Europe, the Middle East and Africa, and the Asia Pacific region all decreased by 2%; The unit box sales in the North American market remained relatively stable, with sales of water, sports, coffee, and tea products shrinking, but sales of soda water, fruit juice, dairy products, plant-based beverages, and carbonated drinks increasing.
Among them, carbonated beverages and tea products have performed well. Coca Cola pointed out that global sales of carbonated beverages and flagship brand "Coca Cola" remained the same as last year in the third quarter; Global sales of sugar free Coca Cola increased by 11%. In fact, the growth trend of sugar free Coca Cola has been continuing in recent years. As shown in the 2022 financial report, the sales growth rate of sugar free Coca Cola reached 11%; The Q2 2024 report shows that global sales of sugar free Coca Cola increased by 6% in the second quarter.
In addition, global tea beverage sales increased by 7% in the third quarter, mainly driven by growth in the Asia Pacific, Latin America, Europe, Middle East, and Africa markets.
In the financial report, Coca Cola Company updated its 2024 performance guidance, increasing the growth rate of comparable currency neutral earnings per share (non GAAP) to 14% -15%, higher than the previously estimated 13% -15%, demonstrating firm confidence in the company's long-term stable development. Meanwhile, Coca Cola expects an organic revenue growth rate of 10% for the full year of 2024; The growth rate of earnings per share is between 5% and 6%, consistent with the previously released guidelines.
CEO reaffirms long-term confidence in the Chinese market
Since the beginning of this year, domestic production capacity has accelerated its expansion
In terms of the Chinese market, Coca Cola's overall sales have shown a downward trend since the second quarter, but the company still has strong confidence in the future performance of the Chinese market.
During the earnings conference call, James Chan, Chairman and CEO of Coca Cola Company, analyzed the performance of the Chinese market, pointing out that it is not only affected by changes in the external environment, but also closely related to the company's strategic decisions. He mentioned that the company is more focused on core categories in the Chinese market, such as carbonated beverages, and has received positive market feedback.
Zhan Kunjie stated that he will focus on areas that he can control and influence in the Chinese market, including marketing, innovation, and improving execution. He reiterated the company's confidence in the long-term growth of the Chinese market and stated that it will continue to invest to seize future growth opportunities.
Since the beginning of this year, Coca Cola has continued to increase its investment in the Chinese market.
On October 18th, Yunnan Taikoo Coca Cola's new packaging glass bottle production line was officially put into operation. The total investment of the production line is about 17.741 million yuan, and it can produce glass bottles of Coca Cola, Sprite, and Fanta. It is reported that with the launch of the new packaging glass bottle production line, Yunnan Taikoo Coca Cola can supply more than 150 SKUs of products in Yunnan, including soda, juice, tea drinks, coffee, drinking water, etc.
In addition, the Guangdong Taikoo Coca Cola Greater Bay Area Intelligent Green Production Base, which started construction in Guangzhou in May this year, is currently under smooth construction. It is reported that the total investment of the project is 1.25 billion yuan, covering an area of nearly 128000 square meters. It plans to build 11 beverage production lines, a three-dimensional warehouse, and supporting facilities. After completion, it will increase production capacity by about 66% compared to the current level.
At the same time, the relocation project of COFCO Coca Cola Shaanxi Company is steadily progressing. The project is expected to be put into operation in September 2025, covering an area of 170 acres with a factory construction area of approximately 79000 square meters and a total investment of 1 billion yuan. The new factory is planned to have 8 beverage production lines and 1 syrup production line, with a maximum designed production capacity of approximately 1.1 million tons.
CandyLake.com 系信息发布平台,仅提供信息存储空间服务。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
声明:该文观点仅代表作者本人,本文不代表CandyLake.com立场,且不构成建议,请谨慎对待。
猜你喜欢
- Xiaopeng Motors: Total revenue in the third quarter increased by 18.4% year-on-year
- NIO's gross profit margin for the third quarter reached 13.1%, and its free cash flow turned positive
- Nvidia's third quarter revenue reached $35.082 billion
- Top 20 US stock transactions: Tesla rises nearly 4%, news reports say Tesla is preparing for Cybertruck electric pickup to enter the Chinese market
- Intel China Chairman Wang Rui: Accelerating the Development of New Quality Productivity and Deepening the Layout of the Chinese Market
- Third quarter performance meeting: Combining long-term strategy with flexible strategy to see how Huazhu maintains growth resilience
- Dialogue with Global Construction Machinery Giant Caterpillar: Pay Attention to the Upgrade Demand of Equipment Trade in in the Chinese Market
- Vietnamese electric car manufacturer Vinfast sold 21912 vehicles in the third quarter and is still expected to sell 80000 vehicles for the whole year
- Rare Report Responds to Doubts of 'Apple Tax'! Deliberately avoiding differential treatment of the Chinese market? Apple: Should not publicly comment
- Will Nvidia cut off supply to the Chinese market after being investigated for anti-monopoly? Official Refutation: Rumors are not true
-
生成式人工知能(AI)が巻き起こす技術の波の中で、電力会社は意外にも資本市場の寵児になった。 今年のスタンダード500割株の上昇幅ランキングでは、Vistraなどの従来の電力会社が注目を集め、株価が2倍になってリ ...
- xifangczy
- 3 天前
- 支持
- 反对
- 回复
- 收藏
-
隔夜株式市場 世界の主要指数は金曜日に多くが下落し、最新のインフレデータが減速の兆しを示したおかげで、米株3大指数は大幅に回復し、いずれも1%超上昇した。 金曜日に発表されたデータによると、米国の11月のPC ...
- SNT
- 前天 12:48
- 支持
- 反对
- 回复
- 收藏
-
長年にわたって、昔の消金大手の捷信消金の再編がようやく地に着いた。 天津銀行の発表によると、同行は京東傘下の2社、対外貿易信託などと捷信消金再編に参加する。再編が完了すると、京東の持ち株比率は65%に達し ...
- SNT
- 前天 12:09
- 支持
- 反对
- 回复
- 收藏
-
【ビットコインが飛び込む!32万人超の爆倉】データによると、過去24時間で世界には32万7000人以上の爆倉があり、爆倉の総額は10億ドルを超えた。
- 断翅小蝶腥
- 3 天前
- 支持
- 反对
- 回复
- 收藏