Summary by Moomoo AI
Coca-Cola reported solid Q2 2024 results with net revenues growing 3% to $12.4 billion and organic revenues up 15%. Unit case volume increased 2%, driven by growth in developing and emerging markets. Operating income rose 10% to $2.6 billion, with operating margin expanding to 21.3% from 20.1% last year.The company demonstrated strong pricing power with 9% growth in price/mix, while concentrate sales were 4 points ahead of unit case volume. By segment, Latin America led growth with 20% higher revenues, followed by North America at 10%. Global unit case volume growth was led by sparkling soft drinks up 3% and Coca-Cola Zero Sugar rising 6%.Based on strong first-half performance, Coca-Cola raised its full-year 2024 guidance, now expecting organic revenue growth of 9-10% and comparable EPS growth of 5-6%. The company continues to execute its "all-weather strategy" while navigating currency headwinds and increasing marketing investments to drive sustainable growth.
Comment(0)
Reason For Report