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Coca-Cola's Q4 Sales Pop as Higher Prices Offset Lower Volume in North America

Roberto Goizueta, one of the greatest CEOs of Coca-Cola, grew the value of soft drink company's common shares by more than 3,500%.

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Key Takeaways

  • Coca-Cola reported better-than-expected sales in Q4 2023.
  • Sales grew 7% from a year ago to $10.85 billion, driven by higher prices.
  • Adjusted earnings per share of 49 cents met analyst expectations.
  • The company expects to grow its organic revenue by 6%-7% and adjusted EPS by 4%-5% in 2024.

The Coca-Cola Company (KO) handil🦩y beat analyst estimates for sales in the fourth quarter. The company's shares rꦰose roughly 1% in pre-market trading Tuesday.

澳洲幸运5官方开奖结果体彩网:Net income for the quarter fell about 3% from a year ago to $1.977 billion or 46 cents per diluted share. Excluding certain items and currency impact, adjusted earnings per share came in at 49 cents per diluted share, in line with 澳洲幸运5官方开奖结果体彩网:analyst estimates compiled by Visible Alpha.

Sales revenue rose🐼 about 7% to $10.85 billion, driven by higher prices. Net of currency impact, organic revenues grew 12% on the back of 25% growth in Europe, Middle East, & Africa; 23% in Latin America; and 13% in Asia Pacific.

Unit case volume, a measure of the volume of beverages sold by C🅺oca-Cola, increased the most in the Latin America market. In North America, higher prices helped offset the impact of lower sales volume.

The company expects to grow its organic revenue by 6%-7% and adjusted EPS by 4%-5% in 2024, but said it faces a 4% cu𝕴rrency headwind in the first quarter of the year.

Q4 2023 Analyst Estimates for Q4 2023 Q4 2022
Revenue $10.85 billion $10.76 billion $10.12 billion
Adjusted Earnings Per Share 49 cents 49 cents 45 cents
Net Income $1.97 billion $2.15 billion $1.94 billion
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