COCA COLA Co.

Beverages - Non-Alcoholic • Consumer Defensive • Atlanta, GA, United States • KO (NYQ)

404 676 2121 One Coca-Cola Plaza, Atlanta, GA 30313, United States

Quarter: Q1 2025 Reported: March 27, 2025 Sentiment: Neutral

The Coca-Cola Company, a beverage company, manufactures and sells various nonalcoholic beverages in the United States and internationally. The company provides sparkling soft drinks and flavors; water, sports, coffee, and tea; juice, value-added dairy, and plant-based beverages; and other beverages. It also offers beverage concentrates and syrups, as well as fountain syrups to fountain retailers comprising restaurants and convenience stores. The company sells its products under the Coca-Cola, Diet Coke/Coca-Cola Light, Coca-Cola Zero Sugar, caffeine free Diet Coke, Cherry Coke, Fanta Orange, Fanta Zero Orange, Fanta Zero Sugar, Fanta Apple, Sprite, Sprite Zero Sugar, Simply Orange, Simply Apple, Simply Grapefruit, Fresca, Schweppes, Thums Up, Aquarius, Ayataka, BODYARMOR, Ciel, Costa, Crystal, Dasani, dogadan, Fuze Tea, Georgia, glacéau smartwater, glacéau vitaminwater, Gold Peak, I LOHAS, Powerade, Topo Chico, Core Power, Del Valle, fairlife, innocent, Maaza, Minute Maid, Minute Maid Pulpy, and Simply brands. It operates through a network of independent bottling partners, distributors, wholesalers, and retailers, as well as through bottling and distribution operators. The company was founded in 1886 and is headquartered in Atlanta, Georgia.

Analysis Summary

The Coca-Cola Company has implemented a strategic reclassification of its operating segments, effective January 1, 2025, by sunsetting the Global Ventures segment. This initiative is designed to streamline the company's operational structure and simplify financial reporting. The Global Ventures segment previously oversaw key assets such as Costa Limited (coffee), innocent (juices and smoothies), and doğadan (herbal teas), in addition to managing fees from distribution coordination agreements with Monster Beverage Corporation. Under the new structure, the results of Costa (excluding its ready-to-drink component), innocent, and doğadan businesses are now reported within the Europe, Middle East and Africa operating segment. Costa's ready-to-drink business and the Monster-related fees have been reallocated to their respective applicable geographic operating segments. Management's commentary, implicitly through this filing, indicates a focus on clarity and efficiency in its global operations. The company explicitly stated that these changes are structural for reporting and do not reclassify or restate any previously reported consolidated financial results. This suggests a neutral impact on historical financial performance perception, while aiming for improved future transparency and operational alignment. No specific financial performance metrics for Q1 2025, forward guidance, competitive positioning analysis, or analyst Q&A highlights were provided in this regulatory filing, as it pertains solely to an organizational reporting change.

Key Highlights

• Global Ventures operating segment sunset effective January 1, 2025.
• Purpose is to streamline and simplify the company's operating structure.
• Costa (excluding ready-to-drink), innocent, and doğadan businesses now report under Europe, Middle East and Africa segment.
• Costa's ready-to-drink business and Monster Beverage Corporation fees now report within applicable geographic segments.
• Changes do not reclassify or restate previously reported consolidated financial results.
• This filing is a regulatory disclosure (Form 8-K) regarding a structural change, not an earnings report.

Financial Metrics

eps

Not provided in this filing

YoY: N/A

revenue

Not provided in this filing N/A

YoY: N/A

guidance

net income

Not provided in this filing N/A

YoY: N/A

Stock Performance (90 Days)

Data through Dec 30, 2025

Positive Signals

• Streamlined operating structure for improved efficiency.
• Simplified financial reporting for better clarity.
• Clear communication of structural changes through regulatory filing.
• No restatement of prior consolidated financial results, ensuring historical data integrity.

Risks & Concerns

— No specific risk factors related to financial performance, market conditions, or operational challenges were disclosed in this regulatory filing, which focuses solely on an organizational reporting change.