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Dec 31, 2021
Coca-Cola Q4 2021 Earnings Report
Coca-Cola demonstrated resilience and flexibility, navigating through uncertainty and focusing on key strategies.
Key Takeaways
Coca-Cola reported a strong Q4 2021, with net revenues growing by 10% to $9.5 billion and organic revenues (non-GAAP) increasing by 9%. EPS grew 65% to $0.56, while comparable EPS (non-GAAP) declined 5% to $0.45. The company's global unit case volume grew by 9%, driven by investments in the marketplace and ongoing recovery in various markets.
Net revenues grew 10% for the quarter, reaching $9.5 billion.
Organic revenues (non-GAAP) grew 9% for the quarter.
EPS grew 65% to $0.56, and comparable EPS (non-GAAP) declined 5% to $0.45.
Global unit case volume grew 9% for the quarter.
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 7% to 8% and comparable currency neutral EPS (non-GAAP) growth of 8% to 10% in 2022.
Positive Outlook
- The company expects to deliver organic revenue (non-GAAP) growth of 7% to 8%.
- For comparable net revenues (non-GAAP), the company expects a 3% tailwind from acquisitions.
- The company’s underlying effective tax rate (non-GAAP) is estimated to be 20%.
- The company expects to deliver comparable currency neutral EPS (non-GAAP) growth of 8% to 10%.
- The company expects to generate free cash flow (non-GAAP) of approximately $10.5 billion.
Challenges Ahead
- For comparable net revenues (non-GAAP), the company expects a 2% to 3% currency headwind.
- The company expects commodity price inflation to be a mid single-digit percentage headwind on comparable cost of goods sold (non-GAAP).
- Comparable EPS (non-GAAP) percentage growth is expected to include a 3% to 4% currency headwind.
- First quarter 2022 Considerations Comparable net revenues (non-GAAP) are expected to include an approximate 3% currency headwind.
- The first quarter has one less day compared to first quarter 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income