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.