Coca-Cola Company - KO STOCK NEWS

The Coca-Cola Company announced the retirement of director Helene Gayle, who served on the board since 2013. During her 11-year tenure, Gayle was a member and former chair of the talent and compensation committee, and served on the corporate governance and sustainability committee. Chairman and CEO James Quincey acknowledged her service and leadership contributions to the company.

The Coca-Cola Company (NYSE: KO) has announced the appointment of Henrique Braun as Executive Vice President and Chief Operating Officer, effective January 1, 2025. In this expanded role, Braun will oversee all of the company's operating units worldwide, reporting directly to Chairman and CEO James Quincey.

Braun, 56, currently serves as EVP and President of International Development, managing operations across Latin America, Asia Pacific, Africa, and other regions. His promotion will add oversight of North America and Europe operating units to his responsibilities. Since joining Coca-Cola in 1996, Braun has held various leadership positions across multiple regions and functions, including supply chain, marketing, and bottling operations.

The Coca-Cola Company (NYSE: KO) has announced updated voluntary environmental goals, replacing previous targets related to water, packaging, climate, and agriculture. The new objectives focus on improving water security in high-risk locations, reducing packaging waste, and decreasing emissions. These goals were developed based on decades of sustainability experience and progress assessment. Implementation will require investments in innovation, infrastructure solutions, enabling legislation, and collaboration with bottling partners, industry peers, local governments, and civil society.

The Coca-Cola Company (NYSE: KO) announced that Chairman and CEO James Quincey will present at the Morgan Stanley Global Consumer & Retail Conference in New York on Dec. 3 at 11 a.m. ET. Investors can access the webcast at coca-colacompany.com/investors, with downloadable files and transcript available within 24 hours after the event. The company operates in over 200 countries, managing multiple billion-dollar beverage brands including Coca-Cola, Sprite, Fanta, Dasani, BODYARMOR, Costa, and Minute Maid. Together with bottling partners, they employ more than 700,000 people globally.

The Coca-Cola Company has announced organizational changes effective Jan. 1, 2025, where Costa Coffee and innocent Drinks will report to the company's Europe operating unit. Costa will remain a stand-alone business, while its ready-to-drink operations outside Europe will report through local operating units. Dogadan, a Turkish tea business, will report to Costa's retail business in Europe. The company's investment in Monster Beverage Corp oversight will move to President and CFO John Murphy. The Global Ventures group, established in 2019, will be sunset as part of this reorganization, with financial data for 2022-2024 being recast and made available in early 2025.

The Coca-Cola Company (NYSE: KO) announces the regional relaunch of Barrilitos, a Mexican soft drink brand from 1938, in California and Texas. The beverage, produced and imported from Mexico, features four flavors: Mandarina, Manzana, Piña, and Ponche de Frutas, available in 12oz glass bottles and 1.5L PET bottles. Made with fruit flavors and cane sugar, Barrilitos targets multicultural Gen Z, Millennials, and families. Distribution will be managed by Reyes Coca-Cola Bottling in California and Southern Nevada, and Coca-Cola Southwest Beverages in Texas and Oklahoma.

Coca-Cola (KO) reported mixed Q3 2024 results with a 1% decline in net revenues to $11.9 billion, while organic revenues grew 9%. Global unit case volume declined 1%, with EPS falling 7% to $0.66. The company's operating margin decreased to 21.2% from 27.4% year-over-year, primarily due to a $919 million charge related to the fairlife acquisition. Despite challenges, comparable EPS grew 5% to $0.77.

The company gained value share in total nonalcoholic ready-to-drink beverages, with Coca-Cola Zero Sugar growing 11%. Cash flow from operations was $2.9 billion, impacted by a $6.0 billion IRS tax litigation deposit.

The Coca-Cola Company (NYSE: KO) has announced the election of Bela Bajaria, Chief Content Officer for Netflix Inc., to its Board of Directors. This brings the board to 12 members. Bajaria, who oversees all television and film content for Netflix globally with a budget of about $17 billion annually, is expected to provide valuable perspective on global business and marketing strategies.

In addition, Coca-Cola has declared a regular quarterly dividend of 48.5 cents per common share, payable on Dec. 16 to shareowners of record as of Nov. 29. The company reaffirmed its commitment to refreshing the world and making a difference through its diverse portfolio of beverage brands and sustainable practices.

The Coca-Cola Company (NYSE: KO) has announced the timing for its third quarter 2024 financial results release. The company will disclose the results on October 23, 2024, before the New York Stock Exchange opens. This will be followed by an investor conference call at 8:30 a.m. ET to discuss the outcomes.

Investors are invited to join a webcast of the call at www.cocacolacompany.com/investors. Downloadable files and a transcript will be available within 24 hours after the call on the company's website. The Coca-Cola Company is a global beverage giant with products sold in over 200 countries, offering a diverse portfolio of brands across various categories including sparkling soft drinks, water, sports drinks, coffee, tea, juice, and plant-based beverages.