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Jun 28, 2024
Coca-Cola Q2 2024 Earnings Report
Coca-Cola experienced solid topline and operating income growth amidst an evolving landscape.
Key Takeaways
Coca-Cola reported a 3% increase in net revenues to $12.4 billion and a 15% increase in organic revenues (non-GAAP). EPS decreased by 5% to $0.56, while comparable EPS (non-GAAP) grew by 7% to $0.84. The company raised its full-year guidance, reflecting confidence in its all-weather strategy.
Net revenues grew by 3%, reaching $12.4 billion, while organic revenues (non-GAAP) increased by 15%.
Operating income grew by 10%, and comparable currency neutral operating income (non-GAAP) increased by 18%.
EPS declined by 5% to $0.56, but comparable EPS (non-GAAP) grew by 7% to $0.84.
The company gained value share in total nonalcoholic ready-to-drink (NARTD) beverages.
Revenue by Geographic Location
Forward Guidance
The company expects to deliver organic revenue (non-GAAP) growth of 9% to 10%. Comparable EPS (non-GAAP) growth of 5% to 6%, versus $2.69 in 2023. The company expects to generate free cash flow (non-GAAP) of approximately $9.2 billion.
Positive Outlook
- Organic revenue (non-GAAP) growth of 9% to 10%
- Comparable net revenues (non-GAAP) currency headwind of 5% to 6%
- Comparable EPS (non-GAAP) currency headwind of 8% to 9%
- Comparable net revenues (non-GAAP) headwind from acquisitions, divestitures and structural changes of 4% to 5%
- Comparable EPS (non-GAAP) headwind from acquisitions, divestitures and structural changes of 1% to 2%
Challenges Ahead
- Comparable net revenues (non-GAAP) are expected to include an approximate 4% currency headwind
- Comparable net revenues (non-GAAP) are expected to include a 4% to 5% headwind from acquisitions, divestitures and structural changes.
- Comparable EPS (non-GAAP) percentage growth is expected to include an approximate 8% currency headwind
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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