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Coca Cola (KO) Tops Q4 EPS by 5c, Revs Fall 5%

February 10, 2021 6:58 AM EST

Coca Cola (NYSE: KO) reported Q4 EPS of $0.47, $0.05 better than the analyst estimate of $0.42. Revenue for the quarter fell 5% to $8.6 billion versus the consensus estimate of $8.63 billion.

"In 2020, employees from across The Coca-Cola Company and its bottling system worked tirelessly to learn and adapt amidst a global crisis," said James Quincey, chairman and CEO of The Coca-Cola Company. "The progress we made in 2020, including the actions taken to accelerate the transformation of our company, gives us confidence in returning to growth in the year ahead. While near-term uncertainty remains, we are well-positioned to emerge stronger from the crisis, driven by our purpose and our beverages for life ambition."

GUIDANCE:

Full Year 2021

The company expects to deliver organic revenue (non-GAAP) percentage growth of high single digits.

For comparable net revenues (non-GAAP), the company expects a 2% to 3% currency tailwind based on the current rates and including the impact of hedged positions.

The company\'s underlying effective tax rate (non-GAAP) is estimated to be 19.5%.

Given the above considerations, the company expects to deliver comparable EPS (non-GAAP) percentage growth of high single digits to low double digits versus $1.95 in 2020. This includes a 3% to 4% currency tailwind based on the current rates and including the impact of hedged positions.

The company expects to deliver free cash flow (non-GAAP) of at least $8.5 billion through cash flow from operations of at least $10.0 billion and capital expenditures of approximately $1.5 billion. This does not include any potential payments related to the ongoing tax litigation with the IRS.

First Quarter 2021 Considerations

Comparable net revenues (non-GAAP) are expected to include a minimal currency impact based on the current rates and including the impact of hedged positions.

Comparable EPS (non-GAAP) is expected to include an approximate 2% currency headwind based on the current rates and including the impact of hedged positions.

For earnings history and earnings-related data on Coca Cola (KO) click here.



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