The Coca-Cola Company (KO), the world largest soft-drink maker, reported its third quarter (3Q) financial results for fiscal year 2013 (FY13) on October 16. The company’s revenues are typically the highest in the summer months – or the second and third quarters – when warm weather acts as a demand driver for soft drink sales.
Overall Results
In the latest quarter ended September 30, 2013, Coca-Cola reported an EPS of $0.54, an 8% Year-over-Year (YoY) increase from the same quarter last year. The EPS figure was in line with analysts’ estimates, signaling strong fiscal management, despite a YoY decline in overall revenues.
Total net revenues for the quarter came in at $12.03 billion, and missed analyst expectations of $12.05 billion by just 0.19%. Reported revenues declined 3% YoY, mainly due to restructuring charges in its Philippines and Brazil operations. After excluding restructuring costs, and accounting currency fluctuations, global revenues actually increased 4%.
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