Financial Data and Key Metrics Changes - The company achieved organic revenue growth of 6% and unit case growth of 2%, aligning with long-term growth expectations [26][27] - Comparable gross margin increased by approximately 30 basis points, while comparable operating margin rose by approximately 130 basis points [27] - Comparable EPS for the first quarter was $0.73, reflecting a 1% year-over-year increase despite a 5% currency headwind [27][28] Business Line Data and Key Metrics Changes - Volume growth was observed across all global beverage categories, with notable performance from Coca Cola Zero Sugar and Fairlife [8][10] - In North America, revenue and profit grew, but volume performance was unsatisfactory due to severe weather and weakening consumer sentiment [9][10] - Latin America saw flat volume but growth in organic revenue and comparable currency neutral operating income, with Brazil and Argentina performing well [10][11] Market Data and Key Metrics Changes - EMEA region experienced volume growth, organic revenue growth, and comparable currency neutral operating income growth, although Western Europe showed mixed performance [11][85] - Asia Pacific delivered volume growth, with strong performance in China and India, while ASEAN and South Pacific faced volume declines [13][15] - The away-from-home channel grew globally, with strong activations in Asia Pacific, while developed markets like the U.S. and Europe saw more challenges [92] Company Strategy and Development Direction - The company is focused on consumer and customer centricity, leveraging local expertise to tailor execution in key geographies [7][16] - The strategy emphasizes affordability and local relevance, particularly in response to geopolitical tensions and consumer sentiment shifts [60][64] - The company aims to optimize its ecosystem, contributing to local economies and maintaining a strong balance sheet to support growth initiatives [21][22][29] Management's Comments on Operating Environment and Future Outlook - Management acknowledged macroeconomic uncertainties and geopolitical tensions impacting consumer confidence and consumption behaviors [7][23] - The company remains confident in achieving its 2025 guidance, expecting organic revenue growth of 5% to 6% and comparable currency neutral EPS growth of 7% to 9% [31][32] - Management highlighted the importance of agility and responsiveness to changing consumer dynamics as a key to navigating the current environment [16][33] Other Important Information - The company made its final $6.2 billion payment related to the acquisition of Fairlife, which continues to perform strongly [28] - The company is investing in multiyear innovations and prioritizing fewer but bolder product launches to drive impact [19][20] Q&A Session Summary Question: Insights on maintaining earnings guidance despite strong Q1 results - Management indicated that currency guidance is based on current rates and hedging positions, emphasizing prudence in light of volatility [35][39] Question: Current conditions in Mexico and plans for volume growth - Management noted softness in Mexico due to cycling strong prior year performance and geopolitical tensions, but expressed confidence in recovery through affordability initiatives [43][48] Question: Actions to address anti-Coke sentiment in the U.S. - Management highlighted agility and reprioritization in strategy, focusing on winning back Hispanic consumers and reinforcing affordability options [51][55] Question: Sustainability of strong operating margins - Management expressed confidence in sustaining margins through cost management and strategic investments, while adapting to market conditions [70][72] Question: Future of Fairlife brand and capacity expansion - Management clarified that while growth rates may moderate, the brand remains strong, with significant capacity expansion expected by year-end [76][78] Question: Performance in Europe, Middle East, and Africa - Management reported mixed performance in Europe, with strong growth in Eurasia markets, and emphasized the importance of affordability and marketing for the upcoming summer season [85][87]