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Mar 29, 2024
Coca-Cola Q1 2024 Earnings Report
Coca-Cola experienced volume, topline, and earnings growth amidst a dynamic environment.
Key Takeaways
Coca-Cola reported a 3% increase in net revenues, reaching $11.3 billion, and an 11% growth in organic revenues. EPS grew by 3% to $0.74, with comparable EPS growing 7% to $0.72. The company gained value share in total nonalcoholic ready-to-drink beverages.
Net revenues grew by 3% to $11.3 billion, while organic revenues grew by 11%.
EPS increased by 3% to $0.74, and comparable EPS grew by 7% to $0.72.
Operating margin was 18.9%, while comparable operating margin was 32.4%.
The company gained value share in the total nonalcoholic ready-to-drink beverages 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.com Forward Guidance
The company expects to deliver organic revenue (non-GAAP) growth of 8% to 9%. Comparable EPS (non-GAAP) growth of 4% to 5%, versus $2.69 in 2023.
Positive Outlook
- The company expects to deliver organic revenue (non-GAAP) growth of 8% to 9%.
- The company expects comparable currency neutral EPS (non-GAAP) growth of 11% to 13%.
- Company expects comparable EPS (non-GAAP) growth of 4% to 5%, versus $2.69 in 2023.
- The company expects to generate free cash flow (non-GAAP) of approximately $9.2 billion through cash flow from operations of approximately $11.4 billion, less capital expenditures of approximately $2.2 billion.
- The company's underlying effective tax rate (non-GAAP) is estimated to be 19.0%.
Challenges Ahead
- For comparable net revenues (non-GAAP), the company expects a 4% to 5% currency headwind based on the current rates and including the impact of hedged positions.
- Comparable EPS (non-GAAP) percentage growth is expected to include a 7% to 8% currency headwind based on the current rates and including the impact of hedged positions.
- For comparable net revenues (non-GAAP), the company expects a 4% to 5% headwind from acquisitions, divestitures and structural changes.
- Comparable EPS (non-GAAP) is expected to include an approximate 2% headwind from acquisitions, divestitures and structural changes.
- Second Quarter 2024 Considerations: Comparable net revenues (non-GAAP) are expected to include an approximate 6% currency headwind based on the current rates and including the impact of hedged positions, in addition to an approximate 5% to 6% headwind from acquisitions, divestitures and structural changes.
Revenue & Expenses
Visualization of income flow from segment revenue to net income