The beverage giant reported strong quarterly revenue that beat analysts' expectations, driven by higher drink prices. "As we begin 2023, we continue to invest in capabilities and strengthen alignment with our bottling partners to maintain flexibility. Our growth culture is leading to new approaches, more experimentation, and improved agility to drive growth and value for our stakeholders," said James Quincey, CEO of the Coca-Cola Company.
▶️ For the quarter, net revenues were strong, growing 7% to $10.13 billion vs. $10.02 billion expected. Organic revenues (non-GAAP) grew 15%.
▶️ EPS declined 16% to $0.47, and comparable EPS (non-GAAP) was even at $0.45. EPS performance included the impact of a 12-point currency headwind.
▶️ The company gained value share in total nonalcoholic ready-to-drink beverages, which included share gains in both at-home and away-from-home channels.
▶️ Operating margin, which included items impacting comparability, was 20.5% vs. 17.7% YoY, while comparable operating margin (non-GAAP) was 22.7% vs. 22.1% YoY.
▶️ For 2023, the company estimates comparable revenue growth of 3% to 5% and comparable earnings per share growth of 4% to 5%.
Q: 1) Is now a good time to own Coca-Cola stocks?
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