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Coca-Cola 2013 Q3 Profit Climbs On Improved North American Sales

Posted On: 10/18/2013

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TAGS: vending soda sales, Coca-Cola 2013 third quarter, carbonated soft drink declines, Coke's noncarbonated drink, still-drink sales, bottled water, Honest Tea, Fuze, Muhtar Kent, Coke financials, CSDs

ATLANTA -- Brisker sales for Coca-Cola's still beverages in North America offset declining consumption of carbonated soft drinks in the third quarter.

Coca-Cola Co.'s net income climbed 6% to $2.45 billion, or 54¢ a share, in the third quarter, up from $2.31 billion, or 50¢ a share, in the same period last year. Revenue fell 3% to $12.03 billion from $12.34 billion.

Coke's global beverage sales volume grew 2%. In North America, sales volume climbed 2%, largely attributable to the strong performance of Coke's noncarbonated drinks. Still-drink and bottled water sales rose 5%, and sales of teas, including Honest Tea and Fuze, saw double-digit percentage growth. Carbonated beverage sales in the North America stayed level.

Beverage volume rose 5% in the Asia-Pacific region and 4% in Eurasia and Africa. Volume fell 1% in Europe and held steady in Latin America.

Coca-Cola chief executive Muhtar Kent reported that the Coke brand delivered a record 181 billion beverage servings in the quarter.

The Coca-Cola chief said the beverage giant was on track to achieve its goal of doubling its 2010 "system revenue," which includes its sales and those of its bottlers, by 2020.