Dow 30 Component, The Coca-Cola Company (KO), is the largest total beverage company in the world. It offers 500 plus brands in over 200 countries and is committed to reducing sugar in its drinks and providing new and diverse drinks to people everywhere.
Coca-Cola released its Q3 revenue report last Friday, exceeding industry expectations. The company reported a revenue of $9.5 billion, an increase of 8% vs. Wall Street estimate of $9.4 billion. However, their EPS of 56 cents that were reported was in line with expectations. Then again the company reported a net income of $2.6B in comparison to $1.8B, or 44 cents per share, a year earlier.
Coca-Cola managed to draw customers by offering healthier options like Zero Sugar soda and smaller size cans amid declining soda consumption in the U.S. Coke Zero Sugar witnessed double-digit volume growth and its 7.5-ounce mini cans of soda grew by 15%.
The soda giant is gearing up with strategies like the introduction of its first energy drink, looking for ways to replace its plastic containers with an environment-friendly substitute, and reviving sales in the U.K market.
CEO James Quincey stated “Our performance gives us confidence that our strategies are taking hold with our consumers, customers, and system,” in a statement.
The company released its partial forecast for fiscal 2020 and reported to announce its full-year outlook in February.