As previously announced, Kathy Waller, Executive Vice President and
Chief Financial Officer, and Sandy Douglas, Executive Vice President and
President Coca-Cola North America, will present at the Morgan Stanley
Global Consumer and Retail Conference today at approximately 9:20 a.m.
EST.
In connection with the presentation, The Coca-Cola Company is updating
its expectations regarding the impact currency will have on its fourth
quarter results. The Company now expects currency to be a 7 point
headwind on net revenues, a 13 point headwind on operating income and an
11 point headwind on income before taxes in the fourth quarter. The
Company’s previously announced expectations regarding fourth quarter
comparable currency neutral EPS growth remains unchanged.
The Company invites investors to listen to the live audiocast of the
presentation at its website, www.coca-colacompany.com/investors.
A replay in downloadable MP3 format will also be available within 24
hours after the audiocast on the Company’s website.
About The Coca-Cola Company
The Coca-Cola Company (NYSE: KO) is the world's largest beverage
company, refreshing consumers with more than 500 sparkling and still
brands. Led by Coca-Cola, one of the world's most valuable and
recognizable brands, our Company's portfolio features 20 billion-dollar
brands including Diet Coke, Fanta, Sprite, Coca-Cola Zero, vitaminwater,
Powerade, Minute Maid, Simply, Georgia and Del Valle. Globally, we are
the No. 1 provider of sparkling beverages, ready-to-drink coffees, and
juices and juice drinks. Through the world's largest beverage
distribution system, consumers in more than 200 countries enjoy our
beverages at a rate of 1.9 billion servings a day. With an enduring
commitment to building sustainable communities, our Company is focused
on initiatives that reduce our environmental footprint, support active,
healthy living, create a safe, inclusive work environment for our
associates, and enhance the economic development of the communities
where we operate. Together with our bottling partners, we rank among the
world's top 10 private employers with more than 700,000 system
associates. For more information, visit Coca-Cola Journey at www.coca-colacompany.com,
follow us on Twitter at twitter.com/CocaColaCo,
visit our blog, Coca-Cola Unbottled, at www.coca-colablog.com
or find us on LinkedIn at www.linkedin.com/company/the-coca-cola-company.
Forward-Looking Statements
This press release may contain statements, estimates or projections that
constitute “forward-looking statements” as defined under U.S. federal
securities laws. Generally, the words “believe,” “expect,” “intend,”
“estimate,” “anticipate,” “project,” “will” and similar expressions
identify forward-looking statements, which generally are not historical
in nature. Forward-looking statements are subject to certain risks and
uncertainties that could cause actual results to differ materially from
The Coca Cola Company’s historical experience and our present
expectations or projections. These risks include, but are not limited
to, obesity concerns; water scarcity and poor quality; evolving consumer
preferences; increased competition and capabilities in the marketplace;
product safety and quality concerns; perceived negative health
consequences of certain ingredients, such as non-nutritive sweeteners
and biotechnology-derived substances, and of other substances present in
our beverage products or packaging materials; increased demand for food
products and decreased agricultural productivity; changes in the retail
landscape or the loss of key retail or foodservice customers; an
inability to expand operations in emerging and developing markets;
fluctuations in foreign currency exchange rates; interest rate
increases; an inability to maintain good relationships with our bottling
partners; a deterioration in our bottling partners' financial condition;
increases in income tax rates, changes in income tax laws or unfavorable
resolution of tax matters; increased or new indirect taxes in the United
States or in other major markets; increased cost, disruption of supply
or shortage of energy or fuels; increased cost, disruption of supply or
shortage of ingredients, other raw materials or packaging materials;
changes in laws and regulations relating to beverage containers and
packaging; significant additional labeling or warning requirements or
limitations on the availability of our products; an inability to protect
our information systems against service interruption, misappropriation
of data or breaches of security; unfavorable general economic conditions
in the United States; unfavorable economic and political conditions in
international markets; litigation or legal proceedings; adverse weather
conditions; climate change; damage to our brand image and corporate
reputation from negative publicity, even if unwarranted, related to
product safety or quality, human and workplace rights, obesity or other
issues; changes in, or failure to comply with, the laws and regulations
applicable to our products or our business operations; changes in
accounting standards; an inability to achieve our overall long-term
growth objectives; deterioration of global credit market conditions;
default by or failure of one or more of our counterparty financial
institutions; an inability to timely implement our previously announced
actions to reinvigorate growth, or to realize the economic benefits we
anticipate from these actions; failure to realize a significant portion
of the anticipated benefits of our strategic relationships with Keurig
Green Mountain, Inc. and Monster Beverage Corporation; an inability to
renew collective bargaining agreements on satisfactory terms, or we or
our bottling partners experience strikes, work stoppages or labor
unrest; future impairment charges; multi-employer plan withdrawal
liabilities in the future; an inability to successfully integrate and
manage our Company-owned or -controlled bottling operations; an
inability to successfully manage the possible negative consequences of
our productivity initiatives; global or regional catastrophic events;
and other risks discussed in our Company’s filings with the Securities
and Exchange Commission (SEC), including our Annual Report on Form 10-K
for the year ended December 31, 2014 and our subsequently filed
Quarterly Reports on Form 10-Q, which filings are available from the
SEC. You should not place undue reliance on forward-looking statements,
which speak only as of the date they are made. The Coca Cola Company
undertakes no obligation to publicly update or revise any
forward-looking statements.
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