Coca-Cola Company - KO STOCK NEWS

The Coca-Cola Company (NYSE: KO) announced the election of three new corporate officers and declared a quarterly dividend of 46 cents per common share, payable on July 3 to shareholders of record as of June 16. The newly elected officers include Ellie May, who will serve as vice president and controller, succeeding retiring Kathy Loveless. May brings over 20 years of experience from Ernst & Young LLP. Mark Harris is appointed general tax counsel, and Robin Halpern will lead investor relations, succeeding Tim Leveridge. Halpern has held significant roles at top financial institutions, enhancing her capability in investor relations. The leadership changes may signify a strategic shift as the company continues to adapt to market dynamics.

The Coca-Cola Company reported strong first quarter 2023 results, showcasing a 5% increase in net revenues to $11 billion, driven by a 12% growth in organic revenues. Global unit case volume rose 3%, with notable growth in away-from-home channels. Operating income declined by 1%, while comparable currency neutral operating income surged by 15%.

Despite challenges, operating margin stood at 30.7%, reflecting a decline from 32.5% in the prior year, mainly due to currency headwinds and marketing expenses. Earnings per share (EPS) grew 12% to $0.72. The company anticipates 7% to 8% organic revenue growth for 2023.

Frutura has entered a licensing agreement with The Coca-Cola Company (KO), marking the first time Coca-Cola has licensed its brands for fresh produce. Frutura will utilize the Minute Maid and Simply brands, specifically through its partner Dayka & Hackett (D&H). The Simply Select brand will be applied to D&H's fresh citrus, while Minute Maid will be used for D&H’s grapes in both the United States and Japan. The partnership aims to enhance D&H's existing product lineup and is expected to launch in the second quarter of 2023. Frutura emphasizes the quality control in the supply chain, aiming to resonate with discerning consumers and increase market penetration with these well-known brands.

On March 30, 2023, Jack Daniel's and Coca-Cola launched their first ready-to-drink (RTD) cocktail, the Jack Daniel's & Coca-Cola, in the U.S. This pre-mixed beverage combines Jack Daniel's Tennessee Whiskey and Coca-Cola, echoing a globally popular cocktail. Initially introduced in Mexico, the U.S. version has a 7% ABV and retails at $12.99 per 4-pack. A Coca-Cola Zero-Sugar variant will be available in May. The collaboration aims to innovate while providing consumers with a convenient format for a classic drink, adhering to responsible marketing practices.

The Coca-Cola Company (NYSE: KO) plans to release its first quarter 2023 financial results on April 24 before the New York Stock Exchange opens. Following the announcement, an investor conference call will be held at 8:30 a.m. ET to discuss the results. Investors are invited to join via a webcast accessible through the company's investor relations page. Coca-Cola operates a diverse portfolio in over 200 countries, featuring iconic brands such as Coca-Cola, Sprite, and Dasani. The company emphasizes sustainability and community impact, aiming to refresh the world and improve lives.

Vitaminwater has introduced two new flavors, ‘with love’ and ‘forever you’, expanding its zero sugar lineup. These new offerings feature a reformulated, sweetener blend of monk fruit and stevia, along with added vitamins and nutrients. ‘With love’ is infused with raspberry and dark chocolate and contains magnesium, while ‘forever you’ offers tropical coconut lime flavors with white curcumin. Both flavors provide essential vitamins like B3, B5, B6, B12, and antioxidants.

Available nationwide, these innovations support the brand’s “Nourish Every You” campaign, building on their partnership with Lil Nas X and engaging consumers through creative marketing.

Bain & Company has formed a global services alliance with OpenAI, making Coca-Cola the first client to engage in this collaboration. The partnership aims to leverage OpenAI's advanced AI technologies to enhance Bain's strategic and digital delivery capabilities. Bain has integrated OpenAI tools into its operations, demonstrating improved efficiency for its team. Specific initiatives include developing next-gen contact centers, personalized marketing strategies, and enhanced productivity tools for financial advisors. Coca-Cola's ambitious plans to adopt these technologies signify a transformative step in leveraging AI for business improvements.

Costa Coffee has appointed Philippe Schaillee as CEO, effective April 10, 2023. Schaillee previously served as executive vice president at Groupe SEB, overseeing Products and Innovation since April 2021. His career includes notable roles at Sara Lee Group and Jacob Douwe Egberts (JDE) Group. He succeeds Jill McDonald and will report to Evguenia Stoichkova, president of Global Ventures for The Coca-Cola Company (KO). Schaillee expressed enthusiasm about joining Costa, noting its rich heritage. The company, founded in 1971, boasts over 2,800 coffee shops in the UK and over 1,100 globally.

The Coca-Cola Company (KO) announced that Amity Millhiser has been nominated for election to its Board of Directors at the Annual Meeting in April. If elected, she will join effective July 1, following her retirement from PwC on June 30. Coca-Cola also declared a 4.6% increase in its quarterly dividend, raising it from 44 cents to 46 cents per share, which will be payable on April 3 to shareholders of record as of March 17. This marks the company's 61st consecutive annual dividend increase, with a total payout of $7.6 billion in dividends to shareholders in 2022 and $76.8 billion since 2010.