Coca-Cola shares gain on strong Q2 earnings, raised FY21 outlook
Coca-Cola shares gain on strong Q2 earnings, raised FY21 outlook
$Coca-Cola Company(KO.US)$ reported second-quarter FY21 net revenue growth of 41.3% year-on-year to $10.1 billion, beating the analyst consensus of $9.25 billion. Unit case volume grew 18% in the quarter.
Revenue growth was driven by the ongoing recovery in markets as the public health crisis-related uncertainty is starting to decrease.
Revenue performance included 26% growth in concentrate sales and 11% growth in price/mix.
The operating margin was 29.8%, while the comparable operating margin improved to 31.7%. Operating income for the quarter rose 52% to $3.02 billion.
Cash flow generated from operating activities was $5.5 billion.
Comparable EPS of $0.68 beat the analyst consensus of $0.55.
"Our results in the second quarter show how our business is rebounding faster than the overall economic recovery, led by our accelerated transformation," said CEO James Quincey.
Outlook: Coca-Cola sees FY21 organic revenue growth of 12% - 14%, versus prior outlook for of high single digits growth.
It expects FY21 comparable EPS growth of 13% - 15%, versus previous guidance for percentage growth of high single digits to low double digits versus $1.95 in 2020. The growth expectations exceed analyst FY21 EPS consensus of $2.18.
Price action: KO shares are trading higher by 1.79% at $56.83 in premarket on the last check Wednesday.
$可口可樂公司(KO.US)$ 報告稱，21財年第二季度淨收入同比增長41.3%，至101億美元，超出分析師一致預期的92.5億美元。該季度單箱數量增長了18%。
收入增長是由市場的持續復甦推動的，因為與公共衞生危機相關的不確定性開始減少。
收入表現包括精礦銷售額增長26%，價格/組合增長11%。
營業利潤率為29.8%，而可比營業利潤率提高到31.7%。當季營業收入增長52%，至30.2億美元。
經營活動產生的現金流為55億美元。
可比每股收益為0.68美元，超過了分析師普遍預期的0.55美元。
首席執行官詹姆斯·昆西(James Quincey)表示：“我們第二季度的業績顯示，在我們加速轉型的帶動下，我們的業務反彈速度快於整體經濟復甦。”
展望：可口可樂預計21財年有機收入將增長12%-14%，而之前的預期為較高的個位數增長。
該公司預計，21財年可比每股收益將增長13%-15%，而此前的指引是將較高的個位數百分比增長至較低的兩位數，而2020年為1.95美元。這一增長預期超過了分析師一致認為的21財年每股收益2.18美元。
價格行動：在週三的最後一次檢查中，KO股價在盤前上漲1.79%，至56.83美元。