Coca-Cola (NYSE: KO) reported Q2 EPS of $0.78, $0.06 better than the analyst estimate of $0.72. Revenue for the quarter came in at $12 billion versus the consensus estimate of $11.73 billion.

Full Year 2023

The company expects to deliver organic revenue (non-GAAP) growth of 8% to 9%. – Updated

For comparable net revenues (non-GAAP), the company expects a 3% to 4% currency headwind based on the current rates and including the impact of hedged positions, in addition to an approximate 1% headwind from acquisitions, divestitures and structural changes. – Updated

The company expects commodity price inflation to be a mid single-digit percentage headwind on comparable cost of goods sold (non-GAAP) based on the current rates and including the impact of hedged positions. – No Change

The company’s underlying effective tax rate (non-GAAP) is estimated to be 19.3%. This does not include the impact of ongoing tax litigation with the IRS, if the company were not to prevail. – Updated

Given the above considerations, the company expects to deliver comparable currency neutral EPS (non-GAAP) growth of 9% to 11% and comparable EPS (non-GAAP) growth of 5% to 6%, versus $2.48 in 2022. – Updated

Comparable EPS (non-GAAP) percentage growth is expected to include a 4% to 5% currency headwind base

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