The Coca-Cola Co. (NYSE: KO) reported second-quarter 2013 results before markets opened this morning. The soft-drink maker posted diluted earnings per share (EPS) of $0.59 on revenues of $12.75 billion. In the same period a year ago, the company reported EPS of $0.69 on revenues of $13.09 billion. Second-quarter results also compare to the Thomson Reuters consensus estimates for EPS of $0.63 and $12.96 billion in revenues.

Currency exchange rates once again cost the company 2% on comparable net revenues and 4% on operating income for the quarter. On a constant currency basis, second-quarter operating income rose 5%. The currency impact was identical to the company’s reported impacts in the first quarter.

The company did not include guidance in its press release this morning, but the consensus estimates for the third quarter call for EPS of $0.55 on revenues of $12.43 billion. For the full year, EPS is estimated at $2.13 on revenues of $48.17 billion.

The company’s CEO said:

Our second quarter volume results came in below our expectations, reflecting an ongoing challenging global macroeconomic environment and unusually poor weather conditions in the quarter. … Despite the headwinds in the quarter, we are committed to improving upon our results, with current dynamics leading us to believe that our performance will be better in the second half of the year.

Worldwide the company’s volume grew just 1% and is up 3% for the first six months of 2013. As in the first quarter, though, that growth did not translate into profits or revenues, both of which were down.

For the full year, Coca-Cola expects currency translation to have an overall impact of negative 4% on the company’s operating income. That is double the negative impact the company expected at the end of the first quarter.

Coca-Cola’s shares are down about 3.3% in premarket trading at $39.65 in a 52-week range of $35.58 to $43.43. Thomson Reuters had a consensus analyst price target of around $46.20 before today’s report.

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