The post Coca-Cola Benefits From Price Hikes, Reports Strong Earnings in Q1 appeared first on theprimarymarket.com.
]]>Coca-Cola has increased its prices by 11% on average in early 2023 in an attempt to offset the surging costs of production and shipping. However, the company continued to perform well, with net sales increasing by 5% while organic revenues (non-GAAP) jumped by 12%. It reported $10.96 billion in revenue compared to the $10.8 billion expected, while adjusted earnings per share came at $0.68 cents versus $0.64 cents expected by the analysts polled by Refinitiv.
The company also said that its operating margin declined from 32.5% in the prior year to 30.7%, while comparable operating margin (non-GAAP) came at 31.8% versus 31.4% in 2022. The cash flow from operations declined from $460 million to $160 million in the same period.
For 2023, Coca-Cola expects to deliver organic revenue growth of 7% to 8% and comparable EPS growth of 4% to 5% compared to $2.48 in 2022.
After unveiling its Q1 earnings, Coca-Cola’s shares have jumped by more than 1% in premarket trading and opened at $64.84 on Monday morning. The company’s stock slipped later in the day to a price of $63.86.
The post Coca-Cola Benefits From Price Hikes, Reports Strong Earnings in Q1 appeared first on theprimarymarket.com.
]]>The post Coca-Cola Benefits From Price Hikes, Reports Strong Earnings in Q1 appeared first on theprimarymarket.com.
]]>Coca-Cola has increased its prices by 11% on average in early 2023 in an attempt to offset the surging costs of production and shipping. However, the company continued to perform well, with net sales increasing by 5% while organic revenues (non-GAAP) jumped by 12%. It reported $10.96 billion in revenue compared to the $10.8 billion expected, while adjusted earnings per share came at $0.68 cents versus $0.64 cents expected by the analysts polled by Refinitiv.
The company also said that its operating margin declined from 32.5% in the prior year to 30.7%, while comparable operating margin (non-GAAP) came at 31.8% versus 31.4% in 2022. The cash flow from operations declined from $460 million to $160 million in the same period.
For 2023, Coca-Cola expects to deliver organic revenue growth of 7% to 8% and comparable EPS growth of 4% to 5% compared to $2.48 in 2022.
After unveiling its Q1 earnings, Coca-Cola’s shares have jumped by more than 1% in premarket trading and opened at $64.84 on Monday morning. The company’s stock slipped later in the day to a price of $63.86.
The post Coca-Cola Benefits From Price Hikes, Reports Strong Earnings in Q1 appeared first on theprimarymarket.com.
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