Q1 Print And Executive Commentary
Coca-Cola said it earned $0.43 per share in the quarter on revenue of $9.12 billion. Wall Street analysts were expecting the company to earn $0.44 per share on revenue of $8.89 billion. Muhtar Kent, chairman and CEO of Coca-Cola, said: Related Links: 15 Stocks To Watch For April 25, 2017 Earnings Scheduled For April 25, 2017
Revenue fell 11 percent from the same quarter a year ago, 10 percent of which was attributed to impacts from structural changes and 1 percent due to foreign currency. However, organic revenue was flat year-over-year as a 3 percent improvement in price/mix was also met with a 3 percent decline in concentrate sales.
Net income fell from $1.483 billion to $1.182 billion.
Highlights And Guidance
Here are some more highlights from the quarter:
- Coca-Cola's value share growth outpaced its volume share in the total nonalcoholic ready-to-drink category.
- Coca-Cola gained value share in sparkling soft drinks and juice, and plant-based beverage categories.
- Total unit case volume was even.
- Growth in developed markets outperformed other markets.
- Operating margins expanded by more than 90 basis points.
- Cash from operations rose 30 percent from a year ago to $788 million.
Coca-Cola also issued guidance as follows:
- Coca-Cola reaffirmed a 3 percent growth in organic revenue throughout 2017.
- Coca-Cola reaffirmed a 7 to 8 percent growth in comparable currency neutral income before taxes throughout 2017.
- Full-year earnings per share is expected to fall 1 to 3 percent from 2016's $1.91.
- A 17 to 18 percent headwind from acquisitions, divestitures, and structural items in the second quarter.
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