The following is a summary of the The Coca-Cola Company (KO) Q1 2024 Earnings Call Transcript:
Financial Performance:
Coca-Cola posted Q1 organic revenue growth of 11% and a unit case growth of 1%.
Pricing actions and inflationary pricing contributed to a 13% price mix growth.
This led to a Q1 comparable EPS of $0.72, showing a 7% YoY increase.
Despite facing 9% currency headwinds, the company delivered a 7% comparable earnings growth.
The free cash flow for Q1 amounted to $160 million.
2024 guidance predicts an organic revenue growth of 8-9% and a comparable EPS growth of 11-13% currency-neutral.
Business Progress:
Coca-Cola reported growth across various regions like China, Japan, South Korea, and the Philippines and expects to see continued strong performance in India.
The Coca-Cola brand had a broad-based success, and they have updated the formulas of their other popular drinks like Fanta and Sprite.
The company is putting emphasis on innovations - both product-based and non-product-based.
There is a systematic focus on market development and ensuring growth in various regions.
Despite facing inflation and irregularities in Q1, the company achieved volume growth, feeding to the 7% EPS.
The company is leveraging B2B digital relationships to support growth and build strong relationships with retailers.
More details: Coca-Cola IR
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