Coca Cola (KO) Tops Q1 EPS by 5c

April 19, 2021 6:56 AM EDT

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Coca Cola (NYSE: KO) reported Q1 EPS of $0.55, $0.05 better than the analyst estimate of $0.50. Revenue for the quarter came in at $9 billion versus the consensus estimate of $8.61 billion.

Full Year 2021 Outlook

The company expects to deliver organic revenue (non-GAAP) percentage growth of high single digits. – No Change

For comparable net revenues (non-GAAP), the company expects a 1% to 2% currency tailwind based on the current rates and including the impact of hedged positions. – Updated

The company’s underlying effective tax rate (non-GAAP) is estimated to be 19.1%. This does not include the impact, if the company were not to prevail, of the ongoing tax litigation with the U.S. Internal Revenue Service. – Updated

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. – No Change

Comparable EPS (non-GAAP) percentage growth includes a 2% to 3% currency tailwind based on the current rates and including the impact of hedged positions. – Updated

The company expects to generate 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 U.S. Internal Revenue Service. – No Change

Second Quarter 2021 Considerations – New

Comparable net revenues (non-GAAP) are expected to include an approximate 3% to 4% currency tailwind based on the current rates and including the impact of hedged positions.

Comparable EPS (non-GAAP) is expected to include an approximate 5% to 6% currency tailwind 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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