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Coca Cola Q4 Earings Report

Coca-Cola

Coca-Cola Earnings Report

Coca-Cola

 

 

 

 

 

 

 

  • Earnings per share: 45 cents adjusted vs. 45 cents expected.
  • Revenue: $10.13 billion vs. $10.02 billion expected.

Coca-Cola (KO) announced that it had modestly exceeded fourth-quarter sales expectations and predicted solid near-term profits. As consumers continue to accept price increases in the food and drinks sector. The company stated that adjusted non-GAAP earnings for the three months ending in December were 45 cents per share, matching the Street consensus forecast. Largely unchanged from the same period last year.

Coke reported that its quarterly revenue surpassed analysts’ expectations, driven by increased prices on its drinks. However, higher prices have impacted demand for products such as Simply Orange Juice and Fairlife Milk, leading to a 1% decline in unit case volume for Q4.

Coke’s net sales rose 7% to $10.13 billion. 12% growth in pricing and a more expensive mix of drinks sold driving the increase. The company reported Q4 net income of $2.03 billion, or 47 cents per share, down from $2.41 billion, in the previous year. Excluding an impairment charge and other items, Coke earned 45 cents per share.

While the sparkling soft drinks segment and the water, sports, coffee, and tea division reported flat volume, Coke Zero Sugar’s volume increased by 9%, and its coffee business saw volume rise by 11% with the expansion of the Costa brand. However, the juice, value-added dairy, and plant-based beverages segment saw a 7% decline in volume due to the suspension of Coke’s Russian business.

For 2023, Coke projects comparable revenue growth of 3% to 5%. Comparable earnings per share growth of 4% to 5%. Wall Street had anticipated revenue growth of 3.9% and earnings per share growth of 3%. Coke’s stock rose 1% in premarket trading.

 

Look Back to Coca-Cola (KO) Q3 below.

Coca-Cola

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

You can read the Full Earnings Report Below.

2022 Q4 Earnings Release

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