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The Coca-Cola Company Reports Continued Strong Results in Second Quarter 2018
Net Revenues Declined 8%, Impacted by Bottler Refranchising;
Organic Revenues (Non-GAAP) Grew 5%, Driven by Balanced Volume and Price/Mix

Operating Margin Expanded More Than 950 Basis Points;
Comparable Operating Margin (Non-GAAP) Expanded More Than 300 Basis Points

Earnings Per Share from Continuing Operations Grew 68% to $0.53; Comparable Earnings Per Share from Continuing Operations (Non-GAAP) Grew 3% to $0.61, Impacted by a 2% Currency Headwind

ATLANTA, July 25, 2018 – 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%.
Highlights
Quarterly Performance
Revenues: Net revenues declined 8% to $8.9 billion, impacted by a 15% headwind from the refranchising of company-owned bottling operations. Organic revenues (non-GAAP) grew 5%, driven by concentrate sales growth of more than 2% and price/mix growth of more than 2%.
Volume: Unit case volume grew 2%. Growth was led by Trademark Coca-Cola, including continued double-digit growth for Coca-Cola Zero Sugar, and also reflects the continued strong performance of Fuze Tea.

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The following information was filed by Coca Cola Co (KO) on Wednesday, July 25, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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