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Mar 31, 2023
Coca-Cola Q1 2023 Earnings Report
Coca-Cola's Q1 2023 results demonstrated resilience with volume and revenue growth, despite a dynamic operating environment.
Key Takeaways
Coca-Cola reported a 5% increase in net revenues to $11.0 billion and a 12% growth in organic revenues. EPS grew by 12% to $0.72, while comparable EPS grew by 5% to $0.68. The company gained value share in total nonalcoholic ready-to-drink beverages.
Net revenues increased by 5% to $11.0 billion, with organic revenues growing by 12%.
EPS grew by 12% to $0.72, and comparable EPS increased by 5% to $0.68.
Operating margin was 30.7%, while comparable operating margin was 31.8%.
The company gained value share in the total nonalcoholic ready-to-drink beverage market.
Coca-Cola
Coca-Cola
Coca-Cola Revenue by Geographic Location
Revenue by Geographic Location
EMEA Revenue
CapyFin.comLatin America Revenue
CapyFin.comNorth America Revenue
CapyFin.comAsia Pacific Revenue
CapyFin.comBottling Revenue
CapyFin.com Forward Guidance
The company expects to deliver organic revenue (non-GAAP) growth of 7% to 8%.
Positive Outlook
- The company expects to deliver organic revenue (non-GAAP) growth of 7% to 8%.
- Underlying effective tax rate (non-GAAP) is estimated to be 19.5%.
- The company expects to generate free cash flow (non-GAAP) of approximately $9.5 billion.
- Comparable net revenues (non-GAAP) are expected to include a 3% to 4% currency headwind.
- Comparable EPS (non-GAAP) percentage growth is expected to include a 2% to 3% currency headwind.
Challenges Ahead
- Comparable net revenues (non-GAAP) are expected to include a 3% to 4% currency headwind.
- Comparable net revenues (non-GAAP) are expected to include an approximate 1% headwind from acquisitions, divestitures and structural changes.
- Commodity price inflation is expected to be a mid single-digit percentage headwind on comparable cost of goods sold (non-GAAP).
- Comparable EPS (non-GAAP) percentage growth is expected to include a 2% to 3% currency headwind.
- Comparable EPS (non-GAAP) percentage growth is expected to include a slight headwind from acquisitions, divestitures and structural changes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income