Coca-Cola has reported a mixed financial performance for the quarter ended September 27, 2024. The company's net operating revenues saw a slight decrease of 1% to $11,854 million compared to $11,953 million in the same period last year. Operating income also declined by 23% to $2,510 million from $3,270 million, primarily due to refranchising activities in Asia and higher commodity costs, despite an increase in concentrate sales volume and favorable pricing initiatives. Equity income saw a modest increase of 5% to $541 million. The company's effective tax rate was 15.7%, with income taxes amounting to $530 million. Coca-Cola's strategic business developments included the refranchising of bottling operations in the Philippines, Bangladesh, and India, and the sale of a portion of its interest in Coke Consolidated. Looking ahead...Show More

Coca-Cola has reported a mixed financial performance for the quarter ended September 27, 2024. The company's net operating revenues saw a slight decrease of 1% to $11,854 million compared to $11,953 million in the same period last year. Operating income also declined by 23% to $2,510 million from $3,270 million, primarily due to refranchising activities in Asia and higher commodity costs, despite an increase in concentrate sales volume and favorable pricing initiatives. Equity income saw a modest increase of 5% to $541 million. The company's effective tax rate was 15.7%, with income taxes amounting to $530 million. Coca-Cola's strategic business developments included the refranchising of bottling operations in the Philippines, Bangladesh, and India, and the sale of a portion of its interest in Coke Consolidated. Looking ahead, Coca-Cola plans to continue investing in its business operations, grow dividend payments, enhance its beverage portfolio through acquisitions, and repurchase shares to offset dilution from employee stock compensation. The company expects capital expenditures of approximately $2.2 billion for 2024 and is prepared to manage potential outcomes from ongoing tax litigation with the IRS.