Coca-Cola’s 1st Quarter Revenues Flat Year-Over-Year

Coca-Cola European Partners (CCEP) posted a first-quarter profit of $1.8 billion on revenue of $2.9 billion, flat versus the prior year’s first quarter, or up one percent on a comparable and currency-neutral basis. earnings per share were $0.30 on a reported basis, or $0.40 on a comparable basis. Volume was down 2.5 percent on a comparable basis. The cost of sales rose $1.8 billion and operating profit decreased 12.5 percent to $224 million. Volumes for sparkling brands decreased one percent, Coca-Cola trademark brands decreased two percent, but Coca-Cola Zero Sugar reported a growth of 8.5 percent. Sparkling flavors and energy brands increased by one percent. CEO Damian Gammell said the results reflected a “continued focus on improving our in-market execution” but were adversely affected by “unfavorable weather, customer challenges, and the effect of some of our brand realignment decisions.”