The Coca-Cola Company (NYSE:KO) Q2 2023 Earnings Call Transcript

And then the channel mix question, do we think we’ll see in developing markets — I think the principal feature is a renormalization post-COVID. I don’t think it’s kind of recessionary or inflationary or that. I think it’s just been — we’ve kind of seen a renormalization of the channel mix. We had talked over prior years about how big an impact on price mix and margin structure, the shift in channels were with what seems ages ago, the lockdowns. That has now largely played out, which is another way of saying, we don’t expect channel mix to be a major feature of the discussion in quarters and years to come.

Operator: Ladies and gentlemen, this concludes our question-and-answer session. I would now like to turn the call back over to James Quincey for any closing remarks.

James Quincey: Yes. Thank you, operator. So just to quickly summarize. Second quarter results, I think, demonstrate the momentum we have in the marketplace. We are navigating a broad set of dynamics in the local markets while driving scale and maintaining flexibility at a global level. We’re confident in our ability to deliver on our ’23 guidance and our longer-term objectives. Thanks for your interest, your investment in our company and for joining us this morning.

Operator: Ladies and gentlemen, this concludes today’s conference call. Thank you for participating. You may now disconnect.