Coca-Cola earnings tops estimates, CFO talks pricing, the consumer, and global demand

Financial Performance - Coca-Cola reported better-than-expected earnings on both the top and bottom line [1] - Adjusted earnings came in better than expected, driving positive stock movement [2] - The company reiterated guidance, expecting organic revenue growth and adjusted earnings growth for the year [4] Volume and Pricing - Global unit volume grew about 1% in the third quarter, less than the 4% growth in Q3 2022 [6] - Sales increase was largely driven by price increases, in line with inflation [8] - Developing markets faced headwinds in Latin America and parts of Asia, dampening volume demand [10] Consumer Trends and Preferences - Growth observed in Coca-Cola Zero Sugar as consumers seek alternate options, with 14% growth this past quarter [4][7] - Water and sports drinks stood out in North America and other regions [4] - Higher-income consumers are more resilient and inelastic, seeking new brand and beverage choices [12] - The company is focused on meeting the needs of lower-income consumers through revenue growth management strategies, including different pack options and price points [13][14] Strategic Initiatives - Reintroducing real cane sugar in select US markets [17] - Investing in value-added dairy, including building a facility to meet demand, especially in 2026 [23][24] - Offering a range of options to consumers to manage their sugar intake [21]