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Coca-Cola Profit Soars 64 Percent In Quarter; Plans Tariff-Induced Price Hikes

July 25, 2018: 12:00 AM EST
Coca-Cola reported a second quarter profit of $2.3 billion – a 64 percent increase from a year ago – on an organic revenue increase of five percent (excluding currency swings, acquisitions and divestitures), helped by growth in sales of concentrates and higher prices for products. Overall sales slid eight percent from last year to $8.9 billion, thanks to divestiture of bottling operations. The company said it is raising prices on carbonated drinks in North America in response to rising freight rates and metal prices – “some broad-based push on input costs,” said CEO James Quincey – spurred by tariffs on Chinese imports. Drink volumes rose two percent, driven by double-digit growth in Coca-Cola-branded products. Volumes were up two percent in carbonated soft drinks and four percent for water, enhanced water and sports drinks.
Jennifer Maloney, "Coke Raising U.S. Soda Prices, Citing Tariffs", Wall Street Journal , July 25, 2018, © Dow Jones & Company, Inc
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