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Water And RTD Tea And Coffee Offset Flat Soda Sales In Cokes Q4

ATLANTA -- Coca-Cola Co. reported a net loss of $2.75 billion, or 65¢ per share, in the 2017 fourth quarter ended Dec. 31 following a year of restructuring and beverage portfolio expansion. The loss is mainly due to a $3.6 billion one-time charge related to the new tax law and compares with a profit of $550 million, or 13¢ a share a year, earlier. Net operating revenue fell 20% to $7.51 billion from $9.41 billion in the 2017 fourth quarter due to the company's efforts to refranchise its bottling operatio...

February 21, 2018

ATLANTA -- Coca-Cola Co. reported a net loss of $2.75 billion, or 65¢ per share, in the 2017 fourth quarter ended Dec. 31 following a year of restructuring and beverage portfolio expansion. The loss is mainly due to a $3.6 billion one-time charge related to the new tax law and compares with a profit of $550 million, or 13¢ a share a year, earlier.

Net operating revenue fell 20% to $7.51 billion from $9.41 billion in the 2017 fourth quarter due to the company's efforts to refranchise its bottling operations.

Global volume growth was flat, while North America volumes edged up 1%. Coca-Cola's water and non-soda sales climbed, with Dasani and ready-to-drink coffee and tea drinks growing 2% for the quarter, offsetting flat carbonated soft drink volume.

The beverage giant's restructuring during 2017 included the appointment of Coca-Cola Co. president and chief executive James Quincey in May. Coca-Cola had also announced 1,200 layoffs last year which began in the second half of 2017.

For 2018, Coca-Cola said it expects revenue to grow 4%.