Coca-Cola Clocks 7% Revenue Growth In Q4; Bottom-Line Matches Street View

  • Coca-Cola Co KO reported fourth-quarter FY22 sales growth of 7% year-on-year to $10.125 billion, beating the consensus of $10.02 billion.
  • Revenue performance included a 2% growth in concentrate sales and a 12% growth in price/mix.
  • Unit case volume declined 1% for the quarter.
  • Gross profit rose 4% to $5.6 billion with a profit margin of 55.4%.
  • The operating margin expanded 280 basis points to 20.5%, while the comparable operating margin gained 60 basis points to 22.7%. 
  • Operating income for the quarter increased 24% to $2.1 billion.
  • Adjusted EPS of $0.45 was in-line with the analyst consensus.
  • Cash flow generated from operating activities for the year was $11 billion, a 13% decline Y/Y.
  • It held $9.5 billion in cash and equivalents as of Dec. 31, 2022.
  • Outlook: Coca-Cola sees FY23 organic revenue growth of 7%-8%, comparable currency neutral EPS growth of 7%-9% and comparable EPS growth of 4%-5% versus $2.48 in 2022.
  • Coca-Cola expects FY23 free cash flow of about $9.5 billion and $11.4 billion in cash flow from operations.
  • Price Action: KO shares are trading higher by 0.08% at $60.65 on the last check Tuesday.
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Posted In: EarningsNewsGuidanceGeneralBriefs
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