Coca-Cola Reports Strong Results for Fourth Quarter and Full Year 2018

Net Revenues Declined 6% for the Quarter and 10% for the Full Year, Impacted by
Bottler Refranchising and Currency Headwinds

Organic Revenues (Non-GAAP) Grew 5% for the Quarter and Full Year

Operating Income Grew 21% for the Quarter and 14% for the Full Year; Comparable Currency Neutral Operating Income (Adjusted for Structural Items and Accounting Changes) (Non-GAAP)
Grew 8% for the Quarter and 11% for the Full Year

Fourth Quarter and Full Year Operating Margin Expanded 516 and 585 Basis Points, Respectively;
Comparable Operating Margin (Non-GAAP) for the Quarter and Full Year
Expanded 13 and 385 Basis Points, Respectively

Fourth Quarter EPS from Continuing Operations Was $0.18 Versus a Loss Per Share of $0.66
in the Prior Year; Fourth Quarter Comparable EPS from Continuing Operations (Non-GAAP)
Grew 9% to $0.43, Impacted by a 10% Currency Headwind

Full Year EPS from Continuing Operations Grew 474% to $1.57; Full Year Comparable EPS from
Continuing Operations (Non-GAAP) Grew 9% to $2.08, Impacted by a 4% Currency Headwind

Company Provides 2019 Financial Outlook
ATLANTA, Feb. 14, 2019 – The Coca-Cola Company today reported another quarter of solid operating performance, capping off strong financial results for the year. While reported net revenues declined due to refranchising and currency headwinds, the company delivered organic revenue (non-GAAP) growth within its long-term target for the sixth consecutive quarter, while also gaining value share globally.
"I am pleased with our strong organic revenue and earnings growth in 2018. Our results demonstrate progress in our transformation as a consumer-centric, total beverage company and the power of a more strategically aligned system," said James Quincey, CEO of The Coca-Cola Company. "Coca-Cola has established a strong foundation to capitalize on long-term growth opportunities and drive sustained shareowner value."
Quarterly / Full Year Performance
Revenues: Net revenues declined 6% to $7.1 billion for the quarter and declined 10% to $31.9 billion for the year. Fourth quarter and full year results were impacted by headwinds of 13% and 17%, respectively, from the combined impact of currency and the refranchising of company-owned bottling operations. Organic revenues (non-GAAP) grew 5% for the quarter, driven by concentrate sales growth of 1% and price/mix growth of 4%. The quarter included one additional day, which resulted in an approximate 1-point benefit to organic revenue (non-GAAP)


The following information was filed by Coca Cola Co (KO) on Thursday, February 14, 2019 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-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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