According to the Coca-Cola Company, it is off to a solid start to 2019, with continued momentum that includes gaining global value share. Reported net revenues grew five percent in the first quarter, and organic revenues (non-GAAP) grew six percent, with positive performance across all operating groups.
"We're encouraged by our first quarter results as our disciplined growth strategies continue to deliver strong underlying performance," said James Quincey, CEO of The Coca-Cola Company. Additional financial figures that were disclosed included:
- Net revenues grew to $8 billion.
- Operating margin for the quarter, which included items impacting comparability, was 29.1 percent versus 23.7 percent in the prior year.
- Earnings per share grew 24 percent to $0.38.
- The company continued to gain value share in total nonalcoholic ready-to-drink (NARTD) beverages.
- The company, along with its bottling partners, now has 100 percent recycled PET bottles in multiple markets and will have them in more than a dozen markets by the end of 2019.
- In the second quarter, the company will begin to leverage the recently acquired Costa's scalable platform across formats and channels with the introduction of Costa ready-to-drink products.