Coca Cola (KO) Reports In-Line Q4 EPS

Coca Cola (NYSE: KO) reported Q4 EPS of $0.37, in-line with the analyst estimate of $0.37. Revenue for the quarter came in at $9.4 billion versus the consensus estimate of $9.14 billion.

• Net Revenues Declined 6% for the Quarter and 5% for the Full Year, which Included a Combined Unfavorable Impact from Foreign Currency and Structural Changes of 12% and 9%, Respectively
• Organic Revenues (Non-GAAP) Grew 6% for the Quarter and 3% for the Full Year
• Price/Mix Grew 6% for the Quarter and 3% for the Full Year
• Operating Margin Expanded More than 90 Basis Points for the Full Year and Comparable Currency Neutral Operating Margin (Non-GAAP) Expanded Nearly 140 Basis Points
• Fourth Quarter EPS of $0.13 and Comparable EPS (Non-GAAP) of $0.37
• Company Provides 2017 Financial Outlook

Full Year 2017 Underlying Performance:

• Approximately 3% growth in organic revenues (non-GAAP)
• 7% to 8% growth in comparable currency neutral income before taxes (structurally adjusted) (non-GAAP), driven by strong operating performance partially offset by an increasing interest rate environment

Full Year 2017 Currency Impact:

• Net revenues: 1% to 2% headwind based on the current spot rates and including the impact of hedged positions
• Income before taxes: 3% to 4% headwind based on the current spot rates and including the impact of hedged positions

Full Year 2017 Acquisitions, Divestitures, and Structural Items Impact:

• Net revenues: 18% to 19% headwind from acquisitions, divestitures, and structural items
• Income before taxes: 5% to 6% structural headwind

Full Year 2017 Other Items:

• Underlying effective tax rate (non-GAAP): 24%*
• Net share repurchases (non-GAAP): Approximately $2.0 billion
• Net capital expenditures: $2.0 billion to $2.5 billion

Full Year 2017 EPS: Comparable EPS (non-GAAP) 1% to 4% decline versus $1.91 in 2016

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

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