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.
➡️ 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.
“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.
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