The Coca-Cola Company (NYSE:KO) Morgan Stanley Global Consumer & Retail Conference December 3, 2024 11:00 AM ET
Company Participants
James Quincey – Chairman & CEO
Conference Call Participants
Dara Mohsenian – Morgan Stanley
Dara Mohsenian
Good morning, everyone. I’m Dara Mohsenian, Morgan Stanley’s Beverage and Household Products Analyst. I’m very pleased to welcome Coca-Cola to our conference. Just before we get started, I do have to note some important disclosures. Please see the Morgan Stanley Research Disclosures website at www.morganstanley.com/researchdisclosures. If you have any questions, you can reach out to your Morgan Stanley representative.
With that, joining us today from Coca-Cola, we have Chairman and CEO, James Quincey. James, it’s great to have you here today. Thank you so much for joining us.
James Quincey
You’re welcome.
Question-and-Answer Session
Q – Dara Mohsenian
So previously you’ve discussed your all-weather strategy that served you well for the volatility of the last few years. You’ve talked about performing at the high-end of the long-term top-line algorithm of 4% to 6% organic sales growth. Given we’re sort of moving to a more normalized level of category growth across CPG, as pricing has decelerated, just level set us for what we should expect going forward. Is the high-end still in sight, as you look out over the next couple of years in this environment, particularly if we’re in a period of lower pricing in CPG in general?
James Quincey
Yes. Look, I still feel very good about being at the top end of the 4% to 6% i.e. in the 5% to 6% range. I think yes, it’s true that pricing or consumer inflation in general and pricing is going to moderate, but it’s going to moderate back down to the sort of levels it was at before. And so, let’s remember that, pre this whole 5-year journey on COVID and the waxing and waning of the
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