Coca Cola (KO) Tops Q1 EPS by 1c, Revenues Beat
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Price: $61.74 +0.31%
Revenue Growth %: +0.2%
Financial Fact:
CONSOLIDATED NET INCOME: 1.05B
Today's EPS Names:
FRSB, DGICA, UXIN, More
Revenue Growth %: +0.2%
Financial Fact:
CONSOLIDATED NET INCOME: 1.05B
Today's EPS Names:
FRSB, DGICA, UXIN, More
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Coca Cola (NYSE: KO) reported Q1 EPS of $0.47, $0.01 better than the analyst estimate of $0.46. Revenue for the quarter came in at $7.6 billion versus the consensus estimate of $7.31 billion.
"We’re encouraged with our first quarter performance as we continue our evolution as a consumer-centric, total beverage company," said James Quincey, President and CEO of The Coca-Cola Company. "We have the right strategies in place and remain confident in our ability to achieve our full year guidance."
- Revenues: Net revenues declined 16% to $7.6 billion for the quarter, impacted by a 26% headwind from refranchising of bottling territories. Organic revenues (non-GAAP) grew 5% for the quarter, driven by concentrate sales growth of 4% and price/mix growth of 1%.
- Volume: Total unit case volume grew 3%, with growth across all category clusters and geographic operating groups. Trademark Coca-Cola was the largest contributor, with a clear acceleration in all brands under the trademark.
- Margin: Operating margin, which included items impacting comparability, grew over 220 basis points. Comparable operating margin (non-GAAP) expanded 600 basis points, driven by divestitures of lower-margin bottling businesses and the company’s ongoing productivity efforts, partially offset by the adoption of the new revenue recognition accounting standard.
- Market Share: The company continued to gain value share in total nonalcoholic ready-to-drink (\"NARTD\") beverages.
- Cash Flow: Cash from operations for the quarter was $613 million, down 20% primarily due to the refranchising of North American bottling territories and the impact of one less day in the quarter. Free cash flow (non-GAAP) was $339 million, up 5% driven by reduced capital investment needs.
- Share Repurchases: Purchases of stock for treasury for the quarter were $927 million. Net share repurchases (non-GAAP) totaled $471 million.
For earnings history and earnings-related data on Coca Cola (KO) click here.
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