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Apr 02, 2021
Coca-Cola Q1 2021 Earnings Report
Coca-Cola's Q1 2021 performance was marked by a 5% increase in net revenues, with organic revenues growing by 6%. Operating income rose by 14%, and comparable EPS saw an 8% increase.
Key Takeaways
Coca-Cola reported a 5% increase in net revenues to $9.0 billion and a 6% increase in organic revenues. EPS declined by 19% to $0.52, while comparable EPS grew by 8% to $0.55. The company's global unit case volume remained even, with growth in developing markets offsetting pressure in developed markets.
Net revenues increased by 5%, and organic revenues grew by 6%.
Operating income increased by 14%, with comparable currency neutral operating income up by 7%.
EPS decreased by 19% to $0.52, while comparable EPS increased by 8% to $0.55.
Global unit case volume was even, with strong growth in developing markets offset by pressure in developed markets.
Revenue by Geographic Location
Forward Guidance
The company expects to deliver organic revenue percentage growth of high single digits. For comparable net revenues, the company expects a 1% to 2% currency tailwind . The company expects to deliver comparable EPS percentage growth of high single digits to low double digits versus $1.95 in 2020. The company expects to generate free cash flow of at least $8.5 billion.
Positive Outlook
- Expects to deliver organic revenue (non-GAAP) percentage growth of high single digits.
- Comparable net revenues (non-GAAP) are expected to include an approximate 3% to 4% currency tailwind.
- Comparable EPS (non-GAAP) is expected to include an approximate 5% to 6% currency tailwind.
- Expects to deliver comparable EPS (non-GAAP) percentage growth of high single digits to low double digits versus $1.95 in 2020.
- Expects to generate free cash flow (non-GAAP) of at least $8.5 billion.
Challenges Ahead
- The company is not able to reconcile full year 2021 projected organic revenues (non-GAAP) to full year 2021 projected reported net revenues.
- The company is not able to reconcile full year 2021 projected comparable net revenues (non-GAAP) to full year 2021 projected reported net revenues.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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