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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.
Revenue by Geographic Location
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.
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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