Coca-Cola, the global beverage giant, reported a robust financial performance for the year ended December 31, 2023. The company's net operating revenues increased by 6% to $45,754 million, compared to $43,004 million in the previous year. This growth was attributed to a 2% rise in concentrate sales volume and favorable pricing initiatives. Despite the dynamic global market, Coca-Cola's gross profit margin improved to 59.5% from 58.1% in 2022, largely due to favorable pricing and product mix. Operating income also saw an uptick, rising by 4% to $11,311 million, driven by volume growth and strategic pricing, although partially offset by higher commodity costs and increased marketing expenses. The company's effective tax rate was reported at 17.4%, down from 18.1% in the prior year. Coca-Cola's cash flow from...Show More

Coca-Cola, the global beverage giant, reported a robust financial performance for the year ended December 31, 2023. The company's net operating revenues increased by 6% to $45,754 million, compared to $43,004 million in the previous year. This growth was attributed to a 2% rise in concentrate sales volume and favorable pricing initiatives. Despite the dynamic global market, Coca-Cola's gross profit margin improved to 59.5% from 58.1% in 2022, largely due to favorable pricing and product mix. Operating income also saw an uptick, rising by 4% to $11,311 million, driven by volume growth and strategic pricing, although partially offset by higher commodity costs and increased marketing expenses. The company's effective tax rate was reported at 17.4%, down from 18.1% in the prior year. Coca-Cola's cash flow from operating activities strengthened, reaching $11,599 million, a 5% increase from 2022, reflecting strong operational results and efficient capital management. The company's capital expenditures were $1,852 million, with significant investments in property, plant, and equipment to support business operations. Coca-Cola's financing activities included debt issuances and repayments, stock repurchases, and dividend payments, with a net cash outflow of $8,310 million for the year. The company's strategic business development was marked by the refranchising of bottling operations in Vietnam and Cambodia, and the acquisition of brands in Asia Pacific, enhancing its beverage portfolio. Looking ahead, Coca-Cola plans to continue investing in its brands, innovation, and sustainability initiatives, aiming to unlock the potential of its global portfolio and drive consumer-centric growth.