The Coca-Cola Company (NYSE:KO) Q3 2024 Earnings Conference Call October 23, 2024 8:30 AM ET

Company Participants

Robin Halpern - VP, Head of IR
James Quincey - Chairman and CEO
John Murphy - President and CFO

Conference Call Participants

Steve Powers - Deutsche Bank
Dara Mohsenian - Morgan Stanley
Lauren Lieberman - Barclays
Bryan Spillane - Bank of America
Chris Carey - Wells Fargo
Bonnie Herzog - Goldman Sachs
Filippo Falorni - Citi
Andrea Teixeira - JPMorgan
Kaumil Gajrawala - Jefferies
Robert Ottenstein - Evercore
Charlie Higgs - Redburn
Bill Chappell - Truist Securities
Kevin Grundy - BNP Paribas
Robert Moskow - TD Cowen
Carlos Laboy - HSBC

Operator

At this time, I’d like to welcome everyone to The Coca-Cola Company’s Third Quarter 2024 Earnings Results Conference Call. Today’s call is being recorded. [Operator Instructions]

I would like to remind everyone that the purpose of this conference is to talk with investors and, therefore, questions from the media will not be addressed. Media participants should contact Coca-Cola’s Media Relations department if they have any questions.

I would now like to introduce Ms. Robin Halpern, Vice President and Head of Investor Relations. Ms. Halpern, you may now begin.

Robin Halpern

Good morning, and thank you for joining us. I am here with James Quincey, our Chairman and Chief Executive Officer; and John Murphy, our President and Chief Financial Officer.

We’ve posted schedules under Financial Information in the Investors section of our company website. These reconcile certain non-GAAP financial measures that may be referred to this morning to results as reported under generally accepted accounting principles. You can also find schedules in the same section of our website that provide analysis of our growth and operating margins.

This call may contain forward-looking statements, including statements concerning long-term earnings objectives, which should be considered in conjunction with cautionary statements contained in our earnings release and in the company’s periodic SEC reports.

Following prepared remarks, we will take your questions. Please limit yourself to one question. Reenter the queue to ask any follow-ups.

Now, I will turn the call over to James.

James Quincey

Thanks, Robin, and good morning, everyone.

After a good first half of 2024, we navigated through a dynamic external landscape during the third quarter. Our business again proved to be resilient. Volume declined 1% in the quarter driven by a slow start in July. However, our business trends improved each month and, notably, Trademark Coca-Cola volume outperformed during the quarter.