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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.
Revenue by Geographic Location
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.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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