Coca-Cola's quarterly report highlights increase in concentrate sales
Company highlights 2021 releases: smartwater+, Coca-Cola with Coffee, Topo Chico Hard Seltzer
Atlanta-based The Coca-Cola Co. reported first quarter 2021 results and provided an update on progress against its strategic initiatives. “We remain focused on emerging stronger and executing against our growth accelerators during the recovery phase. We are pleased with the progress we are making,” said James Quincey, chairman and CEO of The Coca-Cola Co., in a statement. “We are encouraged by improvements in our business, especially in markets where vaccine availability is increasing and economies are opening up, and we remain confident in our full year guidance.”
For the quarter, net revenues grew 5 percent to $9 billion, and organic revenues (non-GAAP) grew 6 percent. This was driven by 5 percent growth in concentrate sales, while price/mix grew 1 percent. The quarter included five additional days, which resulted in an approximate six-point benefit to revenue growth.