“During the World Cup, we had a great opportunity to showcase our brands. Our Powerade was right there with the players during hydration breaks,” said Coca-Cola CEO Enrique Brown in an interview with CNBC.
According to the company, Coca-Cola’s sales volume grew by 5%. This is the brand’s best quarterly performance in 17 years, excluding the pandemic period. Powerade sales increased by 8%, Diet Coke by 7%, and Coca-Cola Zero Sugar by 16%. The water, sports drinks, coffee, and tea segment posted the best results, with sales up 6%. Growth was observed in all categories except coffee.
These strong results allowed Coca-Cola to exceed analysts’ expectations. In the second quarter, the company’s revenue rose 7% to $13.38 billion, compared with a forecast of $13.16 billion. Adjusted earnings per share were $0.97, while the market had expected $0.93.
Coca-Cola’s net income increased to $4.43 billion from $3.81 billion a year earlier. Organic revenue, which reflects growth excluding currency fluctuations, acquisitions, and asset sales, rose by 6%.
Following the release of the report, the company raised its full-year forecast. Coca-Cola now expects comparable earnings per share to grow by 9–10%, up from the previously forecast 8–9%.
At the same time, the company notes that consumers continue to face inflation and economic uncertainty, but this has not yet led to a noticeable decline in demand for its products. Coca-Cola’s sales in North America rose by 3%, while global sales increased by 5%.
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