Summary by Moomoo AI
Coca-Cola, the global beverage giant, reported a robust financial performance for the year ended December 31, 2023. The company's net operating revenues increased by 6% to $45,754 million, compared to $43,004 million in the previous year. This growth was attributed to a 2% rise in concentrate sales volume and favorable pricing initiatives. Despite the dynamic global market, Coca-Cola's gross profit margin improved to 59.5% from 58.1% in 2022, largely due to favorable pricing and product mix. Operating income also saw an uptick, rising by 4% to $11,311 million, driven by volume growth and strategic pricing, although partially offset by higher commodity costs and increased marketing expenses. The company's effective tax rate was reported at 17.4%, down from 18.1% in the prior year. Coca-Cola's cash flow from...Show More
