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Oct 01, 2021
Coca-Cola Q3 2021 Earnings Report
Reported strong results with increased revenues and EPS, driven by strategic transformation and effective navigation of a dynamic environment.
Key Takeaways
Coca-Cola reported strong Q3 2021 results with net revenues growing 16% to $10.0 billion and organic revenues growing 14%. EPS grew 41% to $0.57, and comparable EPS grew 18% to $0.65. The company is updating its full-year guidance to reflect the momentum in the business.
Net revenues grew 16% to $10.0 billion, with organic revenues (non-GAAP) growing 14%.
Operating income grew 26%, and comparable currency neutral operating income (non-GAAP) grew 11%.
EPS grew 41% to $0.57, and comparable EPS (non-GAAP) grew 18% to $0.65.
The company gained value share in total nonalcoholic ready-to-drink (NARTD) beverages.
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 13% to 14%. The company expects to generate free cash flow (non-GAAP) of approximately $10.5 billion through cash flow from operations of approximately $12.0 billion less capital expenditures of approximately $1.5 billion.
Positive Outlook
- Confident in underlying momentum in the business.
- Supported by transformation work.
- Supported by innovation agenda.
- More efficient and effective approach to marketing.
- Expects to deliver organic revenue (non-GAAP) growth of 13% to 14%.
Challenges Ahead
- The company expects elevated commodity inflation.
- Comparable cost of goods sold (non-GAAP) is expected to include a mid single-digit percentage commodity headwind.
- Comparable net revenues (non-GAAP) are expected to include an approximate 2% to 3% currency headwind.
- Comparable EPS (non-GAAP) is expected to include an approximate 2% to 3% currency headwind.
- Fourth quarter 2021 financial results will be impacted by six fewer days as compared to fourth quarter 2020.
Revenue & Expenses
Visualization of income flow from segment revenue to net income