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Coca-Cola Company Q3 net revenues down 7 percent

Staff Writer | October 26, 2016
The Coca-Cola Company reported third quarter 2016 operating results. Net revenues were $10.6 billion, a 7% decline from prior year.
Coca-Cola Company
Coca-Cola Company   Operating margin expanded more than 50 basis points
Net revenues were impacted by a foreign currency exchange headwind of 2% and a headwind from acquisitions, divestitures and structural items of 8%. Organic revenues (non-GAAP) grew 3%, evenly split between volume and price/mix growth.

We gained global volume and value share in total nonalcoholic ready-to-drink (NARTD) beverages. Value share grew ahead of volume share, as a result of our focus on accelerating our revenue growth management strategies, including segmented market roles.

Sparkling beverage unit case volume was even as growth in three of the four geographic operating segments was offset by a 2% decline in Latin America.

Still beverage unit case volume grew 3%, primarily driven by water and sports drinks.

Operating margin expanded more than 50 basis points, which included items impacting comparability, the impact of changes in foreign currency exchange rates and structural impacts.

POST forecast: EPS $0.48 and revenue $10.3 billion.

Comparable currency neutral operating margin (non-GAAP) also expanded more than 50 basis points, driven by solid pricing initiatives, a slightly favorable cost environment, continued productivity and segment mix.