A recovery in demand for diet cola lifted
Core soda business in the last quarter when consumers returned to low-calorie drinks that once despised them.
The company's global soda volume grew 2% year-over-year, led by rising demand for "Diet Coke" and "Coke Zero Sugar," a new formulation of Coke Zero that looks more like original Coca-Cola and a red Circle looks like the cans.
"Coke Zero Sugar is on the rise," with global sales growth in the upper teens percent range, Chief Executive James Quincey said in an interview on Tuesday.
Diet Coke even made gains in the US, where sales volumes have been declining for more than a decade as consumers focused on bottle-bottled and flavor-based selters. Low-calorie and low-calorie Sprite and Fanta also helped boost sales, except in some Central American countries, where the company changed prescriptions too sharply and consumers were unhappy, Mr. Quincey said.
"We have of course corrected" In these markets, "he said." Where we have gradually gone down in sugar reduction, we have seen good consumer acceptance. "
The soda giant brought four new flavors of Diet Coke in January slender doses to the market, including ginger-lime and Zesty blood orange.
The low single-digit percentages for cola products in North America, which were introduced after the US imposed tariffs on Chinese imports, did not appear to be in demand organic sales, which excludes currency movements, acquisitions and divestitures, increased 6% year-on-year, increasing 2% year-over-year.
Coca-Cola replaced Coke Zero in the US last year with Coke Zero The company has set itself the goal of cutting sugar from its products and diversifying beyond sodas as more countries tax Introduce high-calorie drinks to combat rising rates of obesity and diabetes, and when consumers switch to healthier drinks.
Overall, the beverage company's net sales decreased 9% to $ 8.25 billion, reflecting the realignment of the company's bottling operations. Refinitiv analysts had expected sales of $ 8.1
The Atlanta-based company posted earnings of $ 1.88 billion, or 44 cents a share, in the third quarter, compared to $ 1.45 billion or 33 cents per share a year ago. On an adjusted basis, the company achieved 58 cents a share, outperforming analysts' expected 55 cents. For the year 2018, the company continued its guidance of at least 4% organic sales growth and comparable adjusted earnings from continuing operations, growing from 8% to 10% compared to $ 1.91 in 2017.
The stock rose 0.6% on Tuesday morning. Shares have risen 1.9% in the last 12 months
Write to Jennifer Maloney at firstname.lastname@example.org and Aisha Al-Muslim at email@example.com