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Reporting Strong FY 2019 Revenue Growth, Coke CEO Says “The Right Strategies” Are In Place

January 31, 2020: 12:00 AM EST
Coca-Cola’s organic revenue in fiscal 2019 grew six percent – two points ahead of the initial forecast and at the top end of the company’s long-term growth model. Revenue growth was three percent in North America, 13 percent in Latin America, and five percent in both Europe, Middle East and Africa (EMEA) and Asia. Net income attributable to shareowners of Coca-Cola was $8,920 million, or $2.09 a share, a 39 percent increase from $6,434 million, or $1.51 per share, in the previous year. “We see the right strategies taking hold,” CEO James Quincey said, “supported by the right partners, underpinned by a growing and vibrant industry, but we’re just getting started.” CFO John Murphy said the company expects to achieve results well within its long-term growth targets for revenue, profit, and earnings per share for 2020, despite a projected “mild currency headwind.” Investment bank Morgan Stanley said the company offers a “clearly superior” long-term growth outlook versus its consumer product goods peers. Quincey said it is too early to tell what the long-term impact of the coronavirus will be in China, but Coca-Cola has shut down some offices and factories and is supporting the Chinese government as it deals with the crisis.[Image Credit: © The Coca-Cola Company]
Jeff Gelski, "Coca-Cola’s organic revenue growth exceeds expectations", Food Business News, January 31, 2020, © SOSLAND PUBLISHING COMPANY
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