CLAIM #35542 · The Coca-Cola Company (KO) · 2024Q2 earnings call · Jul 23, 2024 · due Dec 31, 2024
“we are confident we will deliver on our updated 2024 guidance and longer-term commitments.”
James Quincey · CEO
In context
“l pilots indicate that retailers who receive the messages, are over 30% more likely to purchase recommended SKUs, which results in incremental sales for our retailers and the system. We're just scratching the surface of what's possible, and we're taking steps to seize opportunities down the road. To sum it all, while we recognize there's still much work to be done, to capture the vast opportunities available; we're encouraged by our year-to-date results and efforts to improve, every aspect of how we do business. As we look forward to the second half of the year, the external backdrop remains uncertain, including some signs of pressure in various consumer segments across developed markets. However, thanks to the power of our portfolio, and the unwavering dedication of our system employees, we are confident we will deliver on our updated 2024 guidance and longer-term commitments. With that, I'll turn the call over to John. John Murphy: Thank you, James, and good morning, everyone. In the second quarter, we delivered strong results. We grew organic revenues 15%. This consisted of 2% unit case growth. Concentrate sales were ahead of volume by four points, driven primarily by timing of concentrate shipments, and some disruptions in the global supply chain that we partly expect, to reverse next quarter. Our price/mix growth of 9% in the quarter was primarily driven by two items: one, approximately five points of intense inflationary pricing, across a handful of markets to offset significant currency devaluation. And two, an array of pricing and mix actions across our markets. Excluding the impacts from concentrate shipment timing and pricing from markets with intense”
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SEC filings for KO ↗ · Claim quote is verbatim from the 2024Q2 earnings call.