Coca-Cola Q3 2024 Earnings Report

Net Revenues: $11.9B (-1%), Organic Revenue: +9%, EPS: $0.66 (-7%), Non-GAAP EPS: $0.77 (+5%)

👉 Business Highlights:
➡️ Net revenues declined 1% to $11.9B, impacted by currency headwinds and lower concentrate sales.

➡️ Organic revenues (non-GAAP) increased 9%, driven by a 10% rise in price/mix.

➡️ Operating margin fell to 21.2%, impacted by $919M fairlife liability charge and currency headwinds.

➡️ Comparable operating margin (non-GAAP) improved to 30.7%, supported by strong organic revenue growth.

➡️ EPS declined 7% to $0.66, while non-GAAP EPS increased 5% to $0.77.

➡️ Free cash flow was $1.6B, significantly impacted by a $6B IRS tax litigation deposit.

➡️ Company gained market share in nonalcoholic ready-to-drink beverages globally.

➡️ Cola-Cola Zero Sugar grew 11% globally, with strong performance across all regions.

➡️ Topo Chico achieved over 20% household penetration increase in North America.

👉 CEO Statement:
“Our business continues to demonstrate resilience in the face of a dynamic external environment,” said James Quincey, Chairman and CEO of The Coca-Cola Company.