The benefits of coke regain their health in the third quarter

Coca-Cola Co's Quarterly Revenues and Profits Exceeded Wall Street Expectations, Investments to Meet Changing Consumer Likes, Sales of Sugar Free Soft Drinks and Vitamin-Rich Waters Increased .

The world's largest beverage maker, like its rival PepsiCo Inc., has built a portfolio of non-carbonated beverages and has doubled its investments in improved waters such as electrolyte-filled smartwaters.

Coca-Cola also disbursed $ 5.1 billion for the world's second largest coffee chain, Costa, and took a stake in BodyArmor, a sports drink sponsored by Kobe Bryant, to court a younger population that prefers Sip a latte rather than drinking large soft drinks.

President and CEO James Quincey downplayed media reports that the company was planning to consume cannabis-infused beverages in North America as a wave of legalization spread across Canada and some US states.

"We have no plans at this stage to enter this space," he told an interview with badysts, adding that the pace of acquisitions this quarter should not be interpreted as a sign of the how the company would proceed. right here.

"Of course, mergers and acquisitions are not a strategy in themselves, but a catalyst for our strategy."

The organic business, or sales of its core beverage business, grew 6% in the third quarter, thanks to double-digit growth in Diet Coke and Coca-Cola Zero Sugar volumes.

Volumes, a key indicator of demand, increased by 2% in the quarter, which is about the same as the previous year. Soft drinks increased 2% in the quarter, while sports drinks and sports drinks, up just 1% in the previous quarter, increased 5%.

"[We are] we started to see growth back in the water after we shifted priorities a little bit and turned more to premium and innovation, "Quincey said.

Ginger lime

Earlier this year, the company launched new cans of diet coke slimming coke as well as flavors such as ginger, lime and feisty cherry. He had promised earlier this month to introduce two new variants of his smartwater brand on the US West Coast.

The strategy, which follows Quincey's appointment last year, was supported by Wall Street badysts and investors.

Net income attributable to shareholders of the Company increased by 30% compared to the third quarter ended September 28.

Excluding non-recurring items, Coca-Cola said it was earning 58 cents a share, 3 cents lower than the average estimate by badysts, according to Refinitiv data.

Revenues fell 9% to $ 8.25 billion, as a result of the sale of its low-margin bottling operations, but exceeded expectations.

"We are impressed by Coca-Cola's ability to provide a strong and balanced business figure, which suggests that its restructuring and portfolio transformation is paying off," said Bonnie Herzog, an badyst at Wells Fargo.

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