The Coca-Cola Company (KO) reported third quarter earnings per share of $0.71, an increase of 15 percent versus the prior year quarter. Earnings per share for the quarter included a $0.03 per share charge primarily related to restructuring.
For the period, revenue rose 19% to $7.7 billion. Operating income was up 10% to $1.83 billion. Net income rose 13% to $1.65 billion.
The company’s CEO commented "Once again, this strong performance was led by our international business. Emerging market growth, combined with sequential improvement in North America, resulted in our third consecutive quarter of 6 percent unit case volume growth."
The stock trades at almost $58, near its 52-week high, and, based on these results, deserves to stay there.
Douglas A. McIntyre