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Coca-Cola | 8-K: Coca-Cola Reports Fourth Quarter and Full-Year 2023 Results

SEC announcement ·  Feb 13 19:59
Summary by Futu AI
Coca-Cola reported its financial results for the fourth quarter and full year of 2023 on February 13, 2024. The company saw a 2% growth in global unit case volume for both the quarter and the full year. Net revenues increased by 7% for the quarter to $10.8 billion and by 6% for the full year to $45.8 billion. Organic revenues grew by 12% for both the quarter and the full year. Operating income rose by 10% for the quarter and 4% for the full year, with currency neutral operating income growing by 20% for the quarter and 16% for the full year. EPS declined by 2% to $0.46 for the quarter, while comparable EPS grew by 10% to $0.49. Full-year EPS increased by 13% to $2.47, with comparable EPS growing by 8% to $2.69. Cash flow from operations was...Show More
Coca-Cola reported its financial results for the fourth quarter and full year of 2023 on February 13, 2024. The company saw a 2% growth in global unit case volume for both the quarter and the full year. Net revenues increased by 7% for the quarter to $10.8 billion and by 6% for the full year to $45.8 billion. Organic revenues grew by 12% for both the quarter and the full year. Operating income rose by 10% for the quarter and 4% for the full year, with currency neutral operating income growing by 20% for the quarter and 16% for the full year. EPS declined by 2% to $0.46 for the quarter, while comparable EPS grew by 10% to $0.49. Full-year EPS increased by 13% to $2.47, with comparable EPS growing by 8% to $2.69. Cash flow from operations was $11.6 billion for the full year, up by 5%, and free cash flow was $9.7 billion, up by 2%. Coca-Cola also provided its financial outlook for 2024, expecting organic revenue growth of 6% to 7% and comparable currency neutral EPS growth of 8% to 10%. The company completed several strategic actions, including the refranchising of bottling operations in Vietnam, Pakistan, and Indonesia, and the sale of its stake in the bottler in Thailand. Coca-Cola's CEO, James Quincey, expressed confidence in the company's strategy and portfolio for continued value creation.

This announcement is a separate document:

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