{"id":28624,"date":"2016-02-10T11:41:59","date_gmt":"2016-02-10T17:41:59","guid":{"rendered":"http:\/\/news.medill.northwestern.edu\/chicago\/?p=28624"},"modified":"2016-02-10T11:41:59","modified_gmt":"2016-02-10T17:41:59","slug":"coca-cola-produces-good-numbers-minus-the-fizz","status":"publish","type":"post","link":"https:\/\/news.medill.northwestern.edu\/chicago\/coca-cola-produces-good-numbers-minus-the-fizz\/","title":{"rendered":"Coca-Cola produces good numbers minus the fizz"},"content":{"rendered":"

By Poroma Pant <\/strong><\/p>\n

Coca-Cola Co. credited cost-cutting for a fourth quarter profit that beat analysts\u2019 expectations. <\/p>\n

Net income jumped 61 percent to $1.24 billion or 28 cents per share from $770 million or 17 cents per share in the prior-year period. Excluding one-time items, Coca-Cola\u2019s earnings were 38 cents a share, a penny more than Wall Street’s estimate.<\/p>\n

Total revenue weighed in at $10.0 billion, beating Wall Street’s forecast of $9.86 billion.<\/p>\n

<\/p>\n

Coca-Cola Stock Price <\/h2>\n

[field name=”chart”]<\/p>\n

Coca-Cola stock prices increase following the release of its Q4 earnings. (Poroma Pant\/MEDILL)<\/div>\n

Coco-Cola reported global volume increases in several of its brands including a 1 percent growth in Coke, 3 percent in Sprite and 7 percent for Coke Zero.<\/p>\n

\u201cOur fourth-quarter performance was a testament to the action we took as the company continued to deliver solid pricing and unit case volume growth,\u201d Muhtar Kent,
\nchief executive of Coca-Cola, said in a press release.<\/p>\n

“Importantly, this top-line growth was led by our flagship market of North America, which delivered its strongest annual performance in three years,” he added.<\/p>\n

According to Nielsen, industry volumes for regular soft drinks in the U.S. for the 52 weeks ended Dec. 26 fell 0.9 percent.<\/p>\n

Coca-Cola’s pricing increased by 1 percent in the quarter and 3 percent in 2015, finding success with smaller can sizes. \u201cOur strategic focus on driving consumption in smaller package sizes is continuing to pay off,\u201d said Chief Financial Officer Kathy Waller on the company website.<\/p>\n

The company is expanding the smaller-package strategy globally, Chief Operating Officer James Quincey said on a conference call.
\nThe company reported slowing growth in China, with a Coke unit growth\u00a0of 1 percent\u00a0compared with a\u00a05 percent increase in the\u00a0third quarter.<\/p>\n

The company announced last week that it would accelerate its plan to shift all North American bottling plants from company-owned\u00a0to franchised operations. The company said Tuesday\u00a0it now plans to\u00a0 accomplish that by 2017.<\/p>\n

This “re-franchising,” which creates a\u00a0drag on company earnings, marks a step change in the company\u2019s efforts to refocus on its core business of building strong, valuable brands and leading a\u00a0system of strong bottling partners, Kent said in a statement.<\/p>\n

“The Coca-Cola Company will return to its focus as a higher margin, higher return and\u00a0less capital intensive operation,\u201d he added.<\/p>\n

The company said a 5 percent decline in sales of Diet Coke confirms\u00a0a sales\u00a0shift toward in its non-carbonated beverages,\u00a0including increases of\u00a08 percent in packaged water, 6 percent in ready-to-drink tea, 5 percent in juices and 2 percent in sports drinks.<\/p>\n

Adam Fleck, an analyst\u00a0at Morningstar,\u00a0wrote, \u201cVolume from these products has climbed to about 26 percent of the company\u2019s total from 20 percent in 2007, and we expect continued positive gains as consumers shift their preference toward juice and other still beverages.\u201d<\/p>\n

Analysts at Cowen & Co., who\u00a0rate\u00a0the stock market perform, stated, \u201cWith volume challenges persisting, and our expectation that a global industry volume recovery could take time to materialize, we do not believe that warrants a significant price target increase.\u201d Cowen & Co. has a target of $42.<\/p>\n

The company gave 2016 earnings guidance of $1.90 to $1.94\u00a0per share,\u00a0versus an analysts’\u00a0estimate of $2.05. Analysts at UBS AG, continuing their buy rating,\u00a0stated, \u201cWe expect generally positive reaction to Q4 results and refranchising plans; offset by disappointment with EPS guidance below $1.95.\u201d<\/p>\n

Coca Cola reported a net income of $7.35 billion or $1.67 per share\u00a0for all of 2015,\u00a0a 3.6 percent increase from $7.09 billion or $1.60 per share the previous year.<\/p>\n

Coca-Cola Co. shares\u00a0rose 1.52 percent\u00a0to $43.30.<\/p>\n

Photo at top: Coca-Cola reported an\u00a0increase in its Coke beverage sales. (Poroma Pant\/MEDILL)<\/div>\n","protected":false},"excerpt":{"rendered":"

By Poroma Pant Coca-Cola Co. credited cost-cutting for a fourth quarter profit that beat analysts\u2019 expectations. Net income jumped 61 percent to $1.24 billion or 28 cents per share from $770 million or 17 cents per share in the prior-year period. Excluding one-time items, Coca-Cola\u2019s earnings were 38 cents a share, a penny more than […]<\/p>\n","protected":false},"author":268,"featured_media":28662,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[27,28,585],"tags":[1222],"class_list":["post-28624","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-general-interest","category-winter-2016","tag-cocacola-drinks-soda-business-medillreports-food"],"yoast_head":"\nCoca-Cola produces good numbers minus the fizz - Medill Reports Chicago<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/news.medill.northwestern.edu\/chicago\/coca-cola-produces-good-numbers-minus-the-fizz\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Coca-Cola produces good numbers minus the fizz - Medill Reports Chicago\" \/>\n<meta property=\"og:description\" content=\"By Poroma Pant Coca-Cola Co. credited cost-cutting for a fourth quarter profit that beat analysts\u2019 expectations. Net income jumped 61 percent to $1.24 billion or 28 cents per share from $770 million or 17 cents per share in the prior-year period. 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