The Coca-Cola Company (NYSE:KO) Q4 2016 Earnings Conference Call - Final Transcript

Feb 09, 2017 • 09:00 am ET


The Coca-Cola Company (NYSE:KO) Q4 2016 Earnings Conference Call - Final Transcript


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At this time, I would like to welcome everyone to The Coca-Cola Company Fourth Quarter 2016 Earnings Results Conference Call. Today's call is being recorded. If you have any objections, please disconnect at this time. All participants will be on a listen-mode until the formal question-and-answer. (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 questions.

I would now like to introduce Mr. Tim Leveridge, Vice President and Investor Relations Officer. Mr. Leveridge, you may begin.

Tim Leveridge

Good morning and thank you for being with us today. I'm joined by Muhtar Kent, our Chairman and Chief Executive Officer; James Quincey, our President and Chief Operating Officer; and Kathy Waller, our Chief Financial Officer. Before we begin, I would like to inform you that you can find webcast materials in the Investors section of our Company website at that support the prepared remarks by Muhtar, James and Kathy this morning.

As a reminder, we will be hosting a separate modeling call at 11:30 AM this morning to review our 2017 outlook in greater detail and allow sufficient time for questions pertaining to guidance.

I would also like to note that we have posted schedules under the financial reports and information tab in the Investor section of our Company website. These schedules reconcile certain non-GAAP financial measures, which may be referred to by our senior executives during this morning's discussion to our results as reported under Generally Accepted Accounting Principles. Please look on our website for this information.

(Forward-Looking Cautionary Statements) Following prepared remarks this morning, we will turn the call over for your questions. In order to allow as many people to ask questions as possible, we ask that you limit yourself to one question. If you have multiple questions, please ask your most pressing question first and then reenter the queue in order to ask any additional questions. Now, I'd like to turn the call over to Muhtar.

Muhtar Kent

Thank you, Tim, and good morning everyone. Today, I'll cover a few key highlights before handing off to James to provide a more detailed operational review of our performance. We are committed to transform our Company to a brand-centric organization leading a great franchise system.

This journey began back in late 2014 when we got behind a set of strategic actions designed to invigorate growth and increase profitability. Since then, we've been advancing on a path to deliver greater long-term sustainable value to our shareowners, associates, partners and stakeholders.

We've simplified our organizational structure for speed and flexibility. We're driving aggressive productivity. We are redeploying more and better marketing. We are driving revenues through segmented growth strategies and embarking also on the biggest refranchising and bottler restructuring in our history.

2016 was a critical year as we continued to make strong progress in transforming our Company while keeping focused on our consumers.